A new report has predicted that in 2012 the sales figures and revenue generated by mobile application downloads will overtake audio CDs.
App download service GetJar has compiled the figures which suggest that current growth rates will see more than 50 billion mobile apps downloaded in 2012, compared to just seven billion last year.
The study estimates that the app market will be worth a total of £11.43 billion in 2012, whilst CDs will account for around £9 billion.
GetJar's Iija Laurs said: "The consumer appetite for mobile apps is rocketing, [and] the opportunities for developers are huge."
As smartphones catch up with computers in terms of power and functionality, the app download market is said to be destined for continued exponential growth.
The report suggests that more apps will be funded through integrated mobile advertising, which will be a departure from the current sales model which relies on user subscriptions or paid-for software.
GetJar believes that 28 per cent of apps will be supported with advertising in two year's time.
The average app price in 2009 was £1.25, but nearly a third is expected to drop from this cost by 2012 as advertising is implemented more frequently.
50 per cent of apps sold in 2012 will originate from third party developers according to the report, with just 23 per cent of the total revenue generated by officially sanctioned apps promoted by network providers.