The app industry in the UK will exceed £4 billion in revenue in 2014, and will see a compound annual growth rate (CAGR) of 38 per cent between 2013 and 2015, according to research by VisionMobile.
A survey of 300 developers across the UK found that the CAGR in UK-based app revenue will be 22 per cent over the longer timeframe of 2013 to 2025.
The UK is a major contributor to the European app market, accounting for more than a third of total revenue generated in the EU28 countries, and just under a fifth of all developers in the region.
There are around 8,000 businesses directly involved with the development of mobile apps in the UK, with 380,000 connected to the app economy. VisionMobile expects that around 30,000 new jobs will be created in the sector over the next 12 months.
In terms of geography, 31 per cent of app companies in the UK are based in Greater London, with another 24 per cent based in the Southeast. However, there are start-up hubs located across the country in Birmingham, Brighton, Bristol, Cambridge and Edinburgh.
The average salary for developers and designers gaining income from apps is a healthy £47,000. Around 44 per cent of developers generate most of their income from their software, while 22 per cent don’t have any income from their products, most likely to be hobbyists or early-stage start-ups.
There remains a low proportion of women involved in the UK app industry, with just 8 per cent of developers and designers being female.
Although there has been government support for start-ups, respondents said more work could be done to sustain momentum, such as continuing tax incentives, affordable training and reducing red tape.