Google Inc (GOOG) Android Mobile App Revenue Climbing Fast
Being a major player in the mobile app market is not good enough for any company, especially Google Inc (NASDAQ:GOOG). Those that are making waves in this space need more than users and downloads. They also need revenue. Fortunately for the search engine company, this doesn’t appear to be a problem right now.
According to a recent report by ABI Research, “Android’s smartphone mobile app revenues are projected to reach almost $6.8 billion by the end of 2013.”
That is a huge number, and one that you should take a second look at for another reason: is just about double from the previous year.
So not only is Android raking in billions in revenue, but it is growing at a fast pace.
Is Google Inc (NASDAQ:GOOG) Closing in on the Top?
It goes without saying that Android would love to catch iOS in terms of smartphone revenue. While the company has a way to go before that happens, there is no denying that it is moving in the right direction.
New data from ABI shows that smartphone app revenue for Android is set to increase from 59.1% to 65.9% when compared to iOS over the next 12 months.
Josh Flood, senior analyst for ABI, noted that iOS is well out in front of the rest of the competition but that a growing number of Android smartphones is allowing it to bite into Cupertino’s lead.
He also added that Android smartphones are expected to “ship by a factor of more than three-to-one to iPhones” this year.
Google Inc (NASDAQ:GOOG) appears to be doing whatever it takes to push its mobile app revenue to new heights, including the use of app advertising, a space in which the company is very comfortable.
The report notes that Android’s incorporation of carrier billing for app purchases is also a benefit when compared against in-house payments used by iOS.
As long as Google continues to worry about itself, not what iOS and the competition is doing, it can expect more of the same in the mobile app market in the years to come. This market is poised to grow more and more, putting Android in position for huge success.
Numbers like these are the ones that get investors excited. This is why the following hedge fund managers continue to invest heavily in Google Inc (NASDAQ:GOOG): Robert Karr, Christopher Hansen, Daniel Benton, Gregory Bylinsky, and Sandy Nairn.
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