The App Store is hugely popular, but according to one report, Apple is going to have a banner year in 2011.
[ad#Google Adsense 300x250 in story]Citibank’s US Internet Stock 2011 Playbook predicts Apple will generate $2 billion in revenue selling apps this year. TechCrunch gives some perspective on that number saying that it’s about the same size as Citibank’s estimate for the entire online video advertising market.
The Citibank report also points to Gartner’s estimates that the app market was worth $4 billion in 2010. That number is expected to grow to $27 billion by 2013, just two short years from now.
Apple continues to sell more iPads and iPhones each quarter, so it’s reasonable to assume that the company will take a big piece of the growing revenue from selling apps.
Several companies like RIM and Google have followed Apple’s lead in developing an App Store for their mobile operating systems too.