Apple has created a new $2.5billion industry in just over a year.

Just over a year ago, this sub section of the industry did not exist.  Now it’s reaching sales of approximately $2.5 billion annually and at the moment no signs of slowing down.  It is no wonder everyone is trying to either get into the app store or create their own.

http://gigaom.com/2009/08/27/how-big-is-apple-iphone-app-economy-the-answer-might-surprise-you/

If I were to tell you that Apple’s app economy was worth more than $2.5 $2.4 billion a year, you would laugh hysterically, shake your head and walk out of the room, yes? Surf on over to some other web site? But here I am telling you exactly that! According to mobile advertising startup AdMob, there are some $200 million worth of applications sold in Apple’s iPhone store every month, or about $2.4 billion a year

This is pretty crazy when you think about it.  There are many issues that still need to be addressed, such as their app submission process, and their arbitrary reasons for not approving apps, that have identical content available through TV shows and music that can already be purchased through iTunes. Regardless of all that, this sub section of the software industry has been keeping me employed through this recession and I’m sure happy about it.  Some of the innovation coming out of this market is insane.  (See some of the augmented reality stuff people are doing)