Report pegs mobile software market at nearly $80B by 2017

Mobile apps are growing at a feverish pace and should drive up to $79.7 billion in revenue by 2017, according to a new report from Global Industry Analysts Inc. A few years ago a projection like this would have likely been met with laughs, but there’s no doubt the mobile app space is in full swing today.
“Growing use of smartphones especially opens up the channel for development of innovative software and consumer applications, driving demand for next-generation mobile software,” the report’s authors wrote. “Top consumer mobile applications for upcoming years, including location-based services, money transfer, mobile browsing, mobile health monitoring, mobile search, near field communication services, mobile payment, mobile instant messaging, mobile advertising and mobile music are all expected to drive present substantial market opportunities for mobile software market in the years to come.”
The research group pegged Asia-Pacific, particularly China and India, as the most prominent region for mobile software growth in the years to come. The largest product segment is projected to be user interface and applications. Meanwhile, the mobile device management market represents the fastest growing product segment, at a compound annual growth rate of 23%.