Wednesday, February 08, 2012
The growing "App Economy" created 466,000 jobs in the last five years, according to a new report by TechNet.
"Every major consumer-facing company, and many business-facing companies, has discovered that they need an app to be the public face of the business," writes Michael Mandel, the former chief economist of Business Week who authored the report. "In some sense, that makes the App Economy the construction sector of the 21st century, building a new front door to everyone’s house and in some cases constructing a whole new house."
The report describes the App Economy as a collection of interlocking ecosystems that consists of a core company, which creates and maintains a platform and an app marketplace (Amazon, Google, Blackberry, Windows), plus small and large companies that produce apps and/or mobile devices for that platform. The report notes that companies can belong to many ecosystems and often does.
What's pretty crazy to think about is that this economy didn't exist until 2007 when the iPhone first made its debut.
Read more at The Los Angeles Times.