The business world is changing rapidly both online and off and as new seemingly insurmountable challenges arise, we discover new, cheaper ways to make money and thrive. Regardless of what naysayers have to say, there is always an abundance of methods for making money in any market, if one is willing to work and search for it.

One of the most profitable gems right now is the mobile web; and a keen understanding of its framework and trends will give the average user the insights he/she needs to exploit the market. As a developer, business person or investor you will discover that business in the mobile world is becoming more profitable as it develops.

So let’s discuss the facts about mobile app development and the ever growing market.

Low Startup Cost

When it comes to developing apps across the various mobile platforms, the startup costs are minimal and in some cases nil. The greatest requirement for mobile application development is a team / individual with a unique vision, original concepts and possess a talent for writing code.

For the business person who possess the skill to code for mobile, this opens the door for massive earnings since the only major investment is that of time.

The Size of the Global Mobile Market

The size of the global mobile app market is estimated to reach $17.5 Billion (50 Billion downloads) by 2012. This is despite the prediction that the average cost of apps will drop from $2 to $1.50. So far, researchers have been underestimating the mobile market’s size and in each of their forecasts they have been short. Things are growing at a faster rate than we would usually expect. There’s a paradigm shift taking place.

The earning potential of a great mobile app is practically unlimited since your app would be exposed to the millions, soon billions, of users globally.

This is where we stress the importance of taking the time to develop something truly remarkable because the compounding viral effect of the web alone is enough to help you gain millions of downloads in a short period of time. Check out a 14 year old who developed an app that gained 1 Million downloads in 2 weeks.

There are more Smartphone Users Now Than Ever

It is estimated that the number of global smartphone users will exceed 1 Billion by 2013. A company that is focused solely on developing apps for a market of this size is poised for huge earning potential. It is also now a reality that smartphones are replacing PCs since in Q4 last year, smartphone sales outnumbered PCs. Total smartphones sold in that quarter were 101 Million while 92 Million PCs were sold.

A successful mobile app development company can gain global recognition for the business, which will result in a certain level of authority and influence. Your brand is now suddenly global and exposes other ideas to the world along with a greater chance of success for other services and products.

For the Average Jamaican

Many Jamaicans enforce ridiculous “imaginary” limitations on themselves and what they can achieve; and becoming a mobile application developer or any other accomplishment is well within reach. Becoming an app developer does not necessarily require formal academic study but many guides can be found online that are sufficient to make any dedicated person a master.

There are already a few Jamaican developers who have launched their own mobile apps if you need some local inspiration. Some of the most popular are:

Alex Morrissey – CEO of Jamaicansmusic.com and developer of the Song Writa Facebook App

Samuel Folkes – Developer of the Zip 103 Blackberry App

Check out Silicon Caribe’s app directory to see what other Caribbean developers are doing online.