We all know mobile app stores are booming worldwide, and a new market research report byMarketsandMarkets acknowledges that trend. According to the research firm’s ‘World Mobile Applications Market (2010 – 2015)’ report, the total global mobile applications market is expected to be worth $25 billion by 2015 (up from about $6.8 billion in 2010), source Tech Crunch.

MarketsandMarkets projects Apple’s App Store to hold nearly 20.5 percent of that particular cake, while the global market is forecast to record a CAGR (compound annual growth rate) of 29.6 percent from 2009 to 2014.

According to the report, North America led the market since 2009 with a 41.6 percent revenue share. However, Asia is the largest market in terms of downloads with 36 percent.

The firm segments the global mobile applications device market into submarkets for on-deck (i.e. carrier managed) and off-deck mobile apps (selling directly to consumers). The former is the larger segment, MarketsandMarket says, accounting for approximately 75 percent of the global mobile applications revenues.  Metatron will be releasing off-deck stores in the near future as previously announced.

However, the off-deck mobile applications segment is expected to experience faster growth in the future, thanks to lowering of entry barriers and faster establishment of new independent stores, the research firm adds. MarketandMarkets expects that, by the end of 2015, off-deck mobile application stores will just surpass the number of downloads from on-deck stores.