The global mobile applications market is on pace to hit $3.8 billion this year—and it’s only getting warmed up, says On the Move Systems (OTCBB:OMVS) CEO Patrick Brown.
Brown cited a recent report from research firm IHS Screen Digest, which forecasts a 77.7-percent jump to nearly $4 billion this year from 2010’s worldwide mobile app revenues. In three years' time, however, that figure could double to $8.3 billion, according to the report.
“There’s no question that the demand for quality mobile applications is growing at a furious pace,” Brown said. “The analysts from IHS and other firms are only confirming what we already know: Smartphone and tablet computer innovations have changed our computing and software habits forever, and the future belongs to the apps.”
The unprecedented expansion of the mobile application market can be attributed to wireless network advancements, falling mobile data usage costs and a continuous refinement of application usability. To capitalize on the mobile app revolution already underway, On the Move Systems is working with software firm Spud McCool Media Inc. (Spud Media) to develop fun, cutting-edge applications designed to make full use of tablet and smartphone features.
“Our goal is to create enjoyable, useful apps that instantly become part of users’ day-to-day routines,” Brown said. “We plan to build applications that support multiple OS platforms in order to take advantage of explosive growth across all segments of the market.”
Last week, OMVS announced that it has commenced development on an innovative new online dating app as well as a social couponing app for use with tablet computers and smartphones.
OMVS is perfecting innovative new mobile application technology to compete in an industry that includes Vringo, Inc. (AMEX: VRNG), Glu Mobile Inc. (NASDAQ: GLUU), Rovi Corporation (NASDAQ: ROVI) and Vocus, Inc. (NASDAQ: VOCS).
For more information on OMVS’ mobile applications initiative and other projects, please visit www.onthemovesystems.com/investor-relations.
About On the Move Systems, Inc.
On the Move Systems, Inc. (OTCBB:OMVS) is focused on the development of cutting-edge technology across a broad spectrum of industries. The company is currently exploring exciting new opportunities in the solar energy, clean technology, and mobile communications technology sectors. For more information, please visit our website at www.onthemovesystems.com.
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