Mobile app revenue in the five largest markets in Europe will reach EUR1.68 billion this year, according to analyst group research2guidance.
The revenue has been generated from paid app downloads, in-app purchasing and in-app advertising.
The European app market makes up around 20 percent of the global market, with the five largest countries representing 15 percent. The UK is the largest market for apps in the region, followed by Germany, Italy, Spain and France.
research2guidance noted that there are differences in the size and structure of the five largest EU markets which impact the platform and business model decisions app publishers must make.
Since 2008 – the first full year in which apps became a recognised sector – the average growth in revenue generated by apps has been above 140 percent, according to research2guidance.
During the same period, apps have changed from being a niche gaming and entertainment channel to a market in which more than 2 million apps have now been published.