Wireless Phone Applications Worth $11 Billion by 2014

By 2014, the wireless phone applications market will be worth $11 billion, according to a new study by the Yankee Group. And developments in the sales of smartphones caused the research firm to change its prediction of $537 million in mobile app revenue in 2010 to nearly twice that amount.

The Yankee Group research is aligned with other studies that project booming smartphone sales in coming years. Smartphone sales will triple by 2012, according to a recent Gartner study.