New Report Published on the State of the App Economy
How powerful is the app economy in the U.S.? According to a new report, powerful enough where it has become a major driver in jobs and economic growth.
The App Association released its fifth edition “State of the App Economy” report, “which provides a snapshot of the trends driving and defining the dynamic app ecosystem. Mobile apps are a component of nearly every enterprise and consumer-facing industry and have impacted every sector of the American economy.”
Said App Association President Morgan Reed: “The app economy is part of a $143 billion ecosystem that has fundamentally changed the way we live and work. Coupled with the remarkable connectivity of consumers around the globe, apps are driving innovations in all industries and supporting economic and job growth across the United States.”
Among the highlights:
- The app ecosystem is worth more than $143 billion.
- 83 percent of successful app companies are located outside of Silicon Valley.
- Recently, the app economy added 110,000 software application developer jobs to the American workforce.
- 500,000 computing jobs remain unfilled, leaving huge job opportunities across the country.
A prime focus of the report: The growth and importance of big data: “The power behind the applications has moved almost entirely to the cloud – and the large data stores that reside there.”
The three biggest trends identified:
- “Apps Driven by Big Data Will Lead the Way – Sure, games will continue to exist, but the way we engage in enterprise, shopping, health, dating, business, manufacturing, and finance activities will not just be built around machine learning, but the apps you use to interface with the cloud will be sending back key data in real-time. Mobile apps will be more than just the portal to your data, they will be a key instrument in utilizing it.”
- “Everything is a Sensor – Sensors of every imaginable type are becoming more affordable and accessible. Look for developers to improve software and use the sensors on your phone and wearables in new ways (you think your camera can only take photos? Think again!). All of the data will flow back to the cloud to power AI.”
- “Cybersecurity Enters the Consumer Worldview – Those of us in tech have been talking about cybersecurity, cross-border data flows, encryption, and one-way hash for decades. But it’s still on the periphery of consumer consciousness. Mobile apps are now powering AI, accessing your money and medical records, while sensors gather information in real time. Your life is in your apps. The ability to see data, and impact your monetary or physical health, makes the security of your apps paramount.”