How large is the app market? Answer: Huge! Earlier this year the WSJ estimated worldwide revenue at $25 billion; Gartner estimated $29.5 billion. Candidly it has become a challenge to keep up with all the new app introductions. Detailed below are two new apps that make my head spin.
Some basic app facts that I believe you will find interesting:
· In June Apple announced the number of apps available in their stores reached 900,000. Note: 60 per cent of the apps in the Apple store have never been downloaded (source: New Relic, an application monitoring service).
· Earlier in the year, mobile tech leader Flurry reported there were 224 million active monthly U.S. app users compared to 221 million laptop and desktop users.
· The average smartphone owner has 41 apps, but they only open less than eight per day.
Max Levchin, former founder of PayPal that was sold to eBay, introduced last week at Apple stores his company’s new app. His new company’s mission (HVF – Hard, Valuable and Fun), is to develop technology that transforms data into solutions for global problems, predominantly in healthcare. The app is a fertility tracker called Glow which has two components: 1.) The first component (free) assists couples who want to conceive. It tracks detailed data about the female’s menstrual cycle to predict fertility levels; and 2.) The second component is optional where users can invest $50 per month into a “fertility funding community” that will assist couples who do not successfully conceive at the end of 10 month period (e.g., vitro fertilization, etc.).
Back on World Environment Day I addressed the high level (40%) of food waste here in the U.S. Two former University of Michigan roommates will soon be launching their solution, a free smartphone app called Leftover Swap. It is real simple, take snaps of your leftovers in your refrigerator (a.k.a. science projects) and someone within proximately will then have the option to trade/barter for your food or simply take it off your hands. Sounds like they will have to address market by market regulations regarding the liability (health hazards) of selling or donating leftover food comparable to what the restaurant industry is already experiencing.
Future apps welcomed!