The iPhone … the iPad … Android mobile phones … tablet PCs … there’s a news story every day, it seems, about the extraordinary growth of what is being called the App Economy.

If someone had told you back in 1995 that the Internet was going to explode as a business opportunity in the way that it has over the last 15 years, you probably wouldn’t have believed them. Back then, only 16 million people worldwide were using it. I was one of them and I didn’t foresee what was to unfold. Now there are 1.6 billion people online and it has completely transformed the world in which we all live and work.

It’s time I let you into a secret. The growth of the Internet was nothing compared to an industry that, as recently as July 9 2008, didn’t even exist.
On 10 July that year Apple launched its App Store and since then other giants of the tech industry like Google, Microsoft and Blackberry have opened app storefronts.

It took just over 800 days for the mobile apps industry to grow to be worth £1.25 billion. By 2012 it is forecast to grow to £11.25 billion.

Isn’t this just hype though? Didn’t we have all this before with the Internet boom and then bust? Not so, says one of the pioneers in this field, Joe Hewitt. He developed one of the most-used apps in history, the Facebook app for Apple devices. In his view: “The app economy is one of those rare cases where insane hype is actually justified. The iPhone and its copycats are creating a ton of new ways to use the Internet.”

If you currently run a business or want to start a business, then smartphone apps represent an opportunity like no other to make money, save money, build brand loyalty or offer more convenience to your customers.

I just love apps in the same way that I fell in love with the Internet when I first used it in 1993. There’s something very special about them. They offer huge opportunities to be inventive, creative and, of course, make money.

Apps are going to change so much about the way in which business is done and the way that people live. Big claim to make I know. But having been there from the start with the Internet and having witnessed its growth, I feel certain about my prediction.

If you’d like to know more about this extraordinary new industry, then you might wish to attend a 1-day event that I am running in London on Thursday 21 October 2010 called Make Money from the Smartphone Revolution. I’d love to see you there. You’ll find full details on the eventbrite website.

Steve Roche runs a company called Wizeeka and is an adviser to businesses that want to develop mobile phone applications.