Just think about it, in Singapore, how many of our young generation uses a tablet? I would say even a one or two years old baby would already know how to operate such devices. This is remarkable as the technology is catching up much faster than any one would predict. Just imagine that the future would be a baby knowing how to operate a computer! In the past, we are not so fortunate to be able to own such technology. A simple computer running in pentium operating system with zeros and ones would easily cost a few thousands. With increase in technology, computers with much more features and benefit would be only a few hundreds.
Well, let's jump onto the topic on our case study. After having to research and talk to profession in mobile industry, they actually predicted that in 2013, or rather this year would have the highest download of mobile application as compared to the last five years or ten years. This shows that you will have to pick things fast and publish your application by the end of this year to have a chance to earn some money.
In wealth mastery, we talk about different aspect of making money one of them is a one time fee and the other is the recurring income. Having to build an application allows you to publish onto the marketplace, "marketplace" refers to application like "AppStore", "Google Play Store" or such. The more marketplace you publish your application to more exposure you get. Therefore you can sell multiple times of the same application without having to create the application when a person purchases it. In conclusion, you create the application once and you can get recurring income. Isn't that great?
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According to a research in BusinessInsider, on the 7th February 2013, they have envision out of five people in the world, there will be one who owns a smartphone. So just imagine that you will be able to target one out of five people in the world. According to Google statistic, there are 7.046 billion people in the world on the 4th December 2013.
There Will Be 1.4 Billion Smartphones In Use By December
By the end of this current year, 1.4 billion smartphones will be in use: 798 million of them will run Android, 294 million will run Apple’s iOS, and 45 million will run Windows Phone, according to a new study by ABI Research. With the world population at 7 billion that will mean one phone for every five people in the world. The annual smartphone growth rate in 2013 is projected to be 44 percent, which is just ever-so-slightly down from 2012′s 45 percent but is still a torrid pace. ABI also predicts that 20 million BlackBerry 10 phones will be in active use at year-end. The result of that growth is a global customer market share of 57 percent for Android, 21 percent of iOS, and 3 percent for Windows Phone. This sounds big for Android, but is actually significantly down from its third-quarter 2012 performance, in which Android captured almost 70 percent global market share.
Mobile Internet Usage Expected To Surge
Mobile Internet use will continue to surge over the next five years, at a rate of 66 percent each year, as the world gets its hands on more mobile devices and more machines are connected to each other and the Web, according to a report from Cisco. In fact, connected devices will outnumber humans this year. The surge in mobile Internet traffic will come from a global population doing more throughout the day over wireless gadgets. By 2017, the average mobile user will watch 10 hours of video, listen to 15 hours of music, make five video calls and download 15 apps each month. In all, global mobile traffic will increase to 134 exabytes in 2017.
Straits Times to extend its 1.43m readership with new iPad app
"The iPad and iPhone apps will be available for free for five weeks until September 7, so be quick.
According to a release, the Straits Times, the flagship newspaper of the Singapore Press Holdings group, will launch its new application for the iPad and an enhanced application for the iPhone...."
If you don't think it's still a convincing market to rush into now or maybe you're think it's too late to go into this market, then you are missing a big opportunity. That's it. Let me just give you a case study...
I don't really know about you but the younger generation are having smartphone at a much younger age now. Having to pass by a primary school in Singapore I have seen young kids at ten years old having to owned a iPhone 4. Having to board a bus, almost nine out of ten teenagers are looking down. Why is that so? What are they looking down at? Well the answer is simple, it's only a word.- Phone.
So let me just ask again once, is this a market which you think it can profit? I'll leave this question for you to ponder with but in the next post I will be going more in-depth why mobile application can be successful.
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