App economy

What is app economy?
App economy refers to the range of economic activities related to mobile applications. Mobile apps created new business opportunities for entrepreneurs and changed the way business is done. The app economy includes the sale of apps, advertising revenue or public relations generated by free apps, and the hardware devices on which apps are to run.

Apps have helped shape the market leaders in mobile technology. Apple Inc., which went out of the running for the first time with the promotion of its app store in 2008, gained a large market share with its iPhone. Apps were part of the first iPhone draw. Android has gained ground with its Android Market, which offers apps for Android-based phones.

Apps are also causing a shift for online businesses, often accessed through an app on a mobile device rather than the internet. As a result, websites that generate most of their revenue from online ads have had to consider which apps are relevant to their business model.