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SINGAPORE : Local developers of mobile applications, or apps, are turning to companies as a new driver of growth.
Analysts and industry players estimate that apps creation and maintenance for companies will be worth some US$3 billion (S$4.2 billion) worldwide in three years. The business can be so lucrative that developers can secure contracts in the order of S$1 to S$2 million per app and even enjoy recurring revenue after development, said industry watchers.
Mobile apps are software developed for handheld devices such as mobile phones and personal digital assistants. The apps developed for businesses provide a mobile service for their customers or an intranet work system for staff.
"The technology required (for developing mobile phone apps) is closer to a software than a simple app ... Therefore, developers can charge more and generate multiple revenue streams," said Mr Jayesh Easwaramony, information and communication technology consulting director of Frost and Sullivan Asia Pacific.
"The greater sophistication also increases the barriers of entry in the competitive landscape. An app targeting end consumers will have a lower probability of success while jostling for attention among some 200,000 apps," he added.
Local firm Tagit Mobile, which counts several Singapore-listed companies among its clients, has developed a mobile banking app for DBS and one to check flights and book tickets for Singapore Airlines, while i-POP Networks has developed apps for companies like Bloomberg, CNN and ESPN.
Mr Colin Miles, i-POP Networks co-founder and vice-chairman of the Mobile Entertainment Forum Asia, said companies are beginning to see the value-add of a well-crafted branded mobile app. Such services in South-east Asia are booming and Singapore is well-located as a hub, he added.
"Although the sector has become more competitive with the huge number of new start-ups, the demand from companies is still significant."
- TODAY/il
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