The EU app economy predicted to make €14.9 billion in 2016.
In contradiction to what we wrote yesterday on the European mobile market falling behind the rest of the world, it has been revealed that Europe plays a significant role in the app industry, reports VisionMobile.
22 per cent of all apps developed worldwide are actually made in the EU28. In total the European App sector accounts for 529,000 or the 794,000 jobs across the whole economy.
Apps in the 28 EU countries generated €10.2 billion last year - a figure that is expected to increase to a whopping €14.9 billion in 2016.
Neelie Kroes, European commissioner, who said the report is a ‘wake up call,’ said: “For me, the app economy is a great example of what happens if you create the right environment; give people the framework to create.
“Borderless, open, and as innovative as your imagination. Now we need to bring that philosophy to other levels of the digital ecosystem. To support the app economy to the full.”
North America produces 42 per cent of apps, followed by Europe’s 22 per cent and then Asia Pacific who role out 18 per cent of global applications.
Revenue generated by app-related products as a whole is projected to hit €51 billion this year, with app stores making €9.1 billion.
Kroes did however indicate that the EU is in need of faster networks such as 4G and LTE, of which Europe has been a bit slow on the uptake of.
Check out VisionMobile's global app economy chart below.