How Europe can win in the global app economy

The app industry has a deep partnership with today’s ubiquitous device: the smartphone. And, like the smartphone, apps are now part almost every business and everyone’s daily activities. 

Source: Euractiv

Source: Euractiv

Today, 400,000 Europeans are building apps. The broader App Economy supported already 1.8 million European jobs in 2013. Its revenue reached €17.5 billion that same year and is expected to grow by 300% (to €63 billion) by 2018.

The most extraordinary part of the App Industry story may be the value that consumers place on these little pieces of software. The annual consumer surplus – the difference in the amount consumers pay for mobile Internet, which is largely reliant on apps, and how much they would be willing to pay – in only the five biggest EU countries, is €770 billion. What other industries can claim to deliver such extraordinary value to consumers?

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