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By 2020, the app market will be worth $102 billion (yes, billion)

Increasing adoption in the Asia Pacific region will fuel the growth, according to business intelligence firm App Annie.

Google Play Store on the Samsung Galaxy S5.

Nicole Cozma/CNET

There's a reason everybody and their brother is trying to build an app -- it's essentially the modern-day gold rush.

The total market for mobile apps will be worth $102 billion in 2020, or nearly double its current value, according to business intelligence firm App Annie. That represents a slight increase from $101 billion in a projection issued in February by the firm.

The massive number underscores the shifting focus in the tech world as developers around the globe invest in software that can be potentially downloaded by many millions of people to their phones. While more mature markets such as North America and Western Europe drive the bulk of that revenue, emerging markets -- especially in the Asia Pacific region -- are starting to see demand take off as phones get cheaper.

Over the next four years, India will see the fastest growth (which is why Apple CEO Tim Cook was so keen to visit), followed by Brazil and Argentina.


This article also appears in Spanish. Read: En 2020, el negocio de los apps móviles valdrá US$102,000 millones