On the world map, the UK may look like a very small country, but there is a lot of potential within that small space, especially in the app store. By the end of 2014, smartphone penetration is expected to reach 74% of the entire UK population, which is pretty impressive, considering the current predicted UK population is over 60 million. Below we’ve taken an insight into the UK app industry, and have provided details about how it compares with the rest of the world.
The UK App Revenue
According to a study by Visionmobile, currently around 44% of app developers are bringing in the majority of their income from mobile apps, whilst another 22% are not bringing in any income at all. The rest are bringing in small amounts of money, but certainly not enough to quit their day job over.
Interestingly though, in the 44% of UK developers who are bringing in a decent income from apps, the average yearly salary is £47,000, which is a huge step up from the nation’s average salary.
Altogether, the UK app industry is predicted to bring in more than £4 million in revenue in 2014 alone, which is close to the equivalent of $6.9 billion US dollars. Despite the app industry being fairly new, according to Visionmobile, there are currently around 380,000 jobs out there in the UK that are centered around app development, and 30,000 more jobs are predicted to be created in the next 12 months, showing that there is the potential to pick up a well-paid job developing apps, instead of going the ‘solo developer’ route.
The Amount of App Developers in the UK
Currently, there are around 110,000 app developers in the UK according to Visionmobile’s study, with 35,000 of these being hobbyist developers, and 75,000 being professional app developers that either work for an app company or bring in enough revenue from their own apps to live off comfortably.
Interestingly, around 83% of the 110,000 UK app developers taught themselves how to code, without taking any prior courses or degrees. Whilst this number is impressive, it indicates that there is a huge amount of potential for app related courses in the UK, and at this point in time what is available in terms of education is very limited.
The Potential of the App Industry
All of this information shows that it’s possible for many people to make a living out of the app industry, all across the world, and app developers don’t need to be big players like EA and Rovio or viral hits like Flappy Bird to bring in enough revenue to live off of.
Over the next year, I think more developers will be introduced to the app industry, either through a company or through their own endeavours, at which point the UK, along with many other regions will see an even larger increase in revenue from the app industry.
I’d suggest that the app economy is only just beginning; as more devices like smart watches enter the market, and smartphone and tablet owners reach even greater numbers, the potential for new apps on the market will continue to increase. How long the app industry will last in this state is currently unclear, but if you get involved now, you’ll have many chances to benefit from it.