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EU app economy grows at a 12% annual rate

A report from Vision Mobile says the EU accounted for only 19% of the app economy in 2014 but is still growing at 12% annual growth rate and on course to contribute $16.5b to EU GDP this year.

EU countries accounted for 25 percent of the global ‘app economy’ in 2012 but that number has dropped to 19 percent in 2014, a Vision Mobile report claims. And it’s not that mobile apps aren’t driving economic growth across Europe, because they clearly are – it’s just that Asian countries are fast outpacing the EU in terms of growth in smartphone usage and app downloads.

Basing findings on its Developer Economics survey series, which Vision Mobile says reaches 10,000 app developers, the report claims app development is contributing $16.5 billion to the EU GDP in 2014.

That’s in line with the $17 billion in (direct) EU app economy revenues for this year, as recently estimated by NUI Galway and GigaOm Research in European Commission-sponsored research.

The app economy is growing at an annual rate of 27% globally, according to VisionMobile’s App Economy Forecasts 2013 – 2016 report, with global revenues from apps and related products and services forecast at $86 billion for 2014.

Including indirect jobs, Vision Mobile reckons the app economy employs ‘at least’ 1 million people in the European Union.

Follow this link to the full article on Tech.EU