Cumulative app revenue to hit $30 billion by the end of 2012

According to the bean counters at ABI Research, once the ball drops in Times Square signifying the end of 2012, the cumulative amount of money spent on apps will have reached $30 billion. That figure includes money spent on premium apps, in-app purchases, subscriptions and in-app ads. The $30 billion is double the amount  reached cumulatively by the end of 2011, meaning that $15 billionwas spent on apps during 2012.

In-app purchases are part of the $30 billion spent on apps

ABI Research gives the credit for developing the app ecosystem to Apple. The Cupertino based firm made advances in distribution and billing of apps with the Apple App Store. ABI says that the original Android Market has matured into the Google Play Store, which has a 33% market share of money spent on apps, estimates the researcher, but still trails the App Store. The key battle for third is between Microsoft and RIM says ABI. Both have made it easy for developers to turn their ideas into apps and from apps into money. Should Windows Phone 8 and/or BlackBerry 10 hit it big, it won't be too hard for developer's to share in the success of either platform with the Windows Phone Marketplace and BlackBerry App World.

source: ABIResearch