Smart mobile device adoption has exploded this year and, along with it, mobile apps.
But most people didn't know it was this big: a whopping 50,000-plus employees driving a staggering $775 million in revenues. That's according to the Information and Communications Technology Council, an Ottawa-based tech organization who has provided some of the first stats related to this emerging industry.
The ICTC believes that these revenues will skyrocket to more than $2 billion by 2016. Currently, nearly half (47%) of all jobs in the mobile app industry are located in Ontario. Technical employees—which make up about half of the industry's workforce—such as coders, earn an average salary of $68,000.
“This really feels like the golden age of innovation and technology and it’s no stretch at all to attribute that to mobile,” Kerry Morrison, CEO of Toronto-based Endloop Mobile told the Globe and Mail. “Now, Toronto is the epicentre of tech, innovation and technological growth in this country, so I’m not certain this demand would be all across the country, but certainly in Toronto, Montreal and Calgary—mobile is booming.”
Global research firm Strategy Analytics this week published a research report suggesting the number of smartphones worldwide has surpassed the one billion mark. It took 16 years to reach that billion. Strategy says it will take just three years to reach the next billion.
The ICTC says it only takes about $20,000 to build a relatively simple app, but some can cost up to $250,000.