A study by Gartner claims fewer than 1 in 10,000 apps are a financial success. The research firm notes that most mobile apps don't seems to be made for generating profit, a lot of apps are used to build brand recognition and product awareness or are just for fun.
On top of that, with so many free apps out there, developers have to come up with something pretty special to get anyone to part with their cash.
"There are so many applications that are free and that will never directly generate revenue. Gartner is forecasting that, by 2017, 94.5 per cent of downloads will be for free apps," said Dulaney.
"Furthermore, of paid applications, about 90 per cent are downloaded less than 500 times per day and make less than $1,250 a day. This is only going to get worse in the future when there will be even greater competition, especially in successful markets."