Since the introduction of mobile applications and 'App Stores' their sales have taken a huge leap. In a recent study released by GetJar it is forecasted that the market for mobile applications will grow to an estimated 17,5 billion US dollars (12,8 billion Euro's).

According to the study, the European market will grow significantly faster than the US market. In 2009 the European consumers spent $1,5 billion (€1,1 billion) on mobile applications, as opposed to $2,1 billion in the US. However, in 2012 Chetan Sharma Consulting, an independend research company conducting this research, forecasts sales of $8,5 billion (€6,2 billion) in Europe, while in North America they will rise to around $6,7 billion (€4,9 billion).

Watch the video below for a full overview of the report, or go to GetJar to see the full report.

Mobile application sales will overtake CD sales by 2012.