App Economy - What is it?
App Economy refers to all economic activities performed using mobile applications. It includes:
- 1. Selling of apps
- 2. Ad revenue
- 3. User base creation for free apps
- 4. New entrepreneurial opportunities enabled through mobile applications which did not exist just a few years ago are now becoming a major driver for job creation in developing countries.
Examples often cited are of Uber or Airbnb that created a new business model for anyone with a car (in case of Uber) or home (in case of Airbnb) to be able to provide service and get renumeration for that service. It also lets prospective customers of those services discover the offerings and thus generate a lucrative new business.