Russian Mobile App Market to Reach $1.6 Billion by 2016

Russian Mobile App Market to Reach $1.6 Billion by 2016

The volume of the Russian market in mobile applications in 2013 will amount to about $246 million and is due to reach $1.6 billion by 2016, according to a recent report by J’son & Partners Consulting, reports.

The market in mobile applications — software designed specifically for smartphones, tablet computers and other mobile devices — is led by Apple’s AppStore, Google Play and the Windows Phone Store.

According to analysts at J’son & Partners, the Russian mobile applications market is expected to grow more slowly than the Western market over the coming year, while between 2014 and 2016 the growth rate of the Russian market is expected to be higher than the rest of the world. As a comparison, the worldwide market for mobile at the end of 2013 will amount to $16.3 billion dollars, while it is thought that in 2016 this figure will reach a value of $65.8 billion.

Analysts believe, however, that the steady growth rate of the Russian market in mobile applications will continue through 2016. They attribute this to increasing popularity, marketing by application stores and mobile operators, and the development of new segments. J’son & Partners predicts that the average annual growth rate for mobile applications on the Russian market for the period from 2013-2016 will total 171 percent.

Among the key drivers of this growth, J’son & Partners cite increased communication through mobile devices, the penetration of tablet PCs, the growing influence of mobile social networks, e-commerce development and the construction of fourth-generation networks (LTE). Despite demand and the expected increase in volume, the complexity of mobile application payment systems for users in emerging markets, as well as lower awareness about the uses of mobile applications will keep development of the market in Russia from reaching its full potential, analysts say.

CATEGORY: Outsourcing News

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