Research firm IHS iSuppli today released its projections for the performance of mobile application marketplaces in 2011, predicting that overall revenues will rise nearly 78% this year to $3.9 billion. Of that figure, Apple’s App Store is expected to snag 76% or $2.91 billion on 63.4% growth over 2010.
Apple also will lead the way with revenue gained from in-app purchases – or additional purchases made within a paid application, such as bonus game levels – which will serve as a key growth driver for revenue up to 2014.
Android is expected to continue its surge this year with nearly 300% growth to become the second-largest app marketplace after the App Store, but Android’s projected revenue of $425 million will still fall far short of Apple’s nearly $3 billion figure. Research in Motion’s BlackBerry App World and Nokia’s Ovi Store fill out the top four with expected revenues in the $200-300 million range.
Looking further ahead, IHS iSuppli sees the app download market reaching $8.3 billion in 2014, more than doubling the projected 2011 performance. Apple is still projected to maintain a majority share of the market, albeit at a slightly lower 60% share. Still, that performance would put Apple’s App Store revenue at $5 billion in 2014.