Whenever the words mobile applications are mentioned, we don’t gaze into the distance wondering what those mean. That is because we are using mobile apps frequently in our daily life. Bill payments, purchasing movie tickets, shopping apps – they are being used by people of all ages. Coming to 2011, the economy will witness some important changes because economy is always evolving.

So let us take a look at the changing economy trends of 2011:

• The format of mobile ads if going to take a turnaround. Initially, the concept of placing ads onto the smartphone was a direct copy-paste of the online format that was used. Banner ads ruled the roost and were placed on each page of an app or mobile web. Advertisers will now intricately research about the placement of ads so that they attract maximum attention.

• Android beat iPhone when it came to the maximum number of subscribers. iPhone was not ready to back down which is why it has come up with Verizon. Apple's App Store is top-notch when compared to Android in helping to locate and buy new apps. Organization of apps and making the checkout process simple are the two key challenges that Android has to face in 2011.

• Ads will be more and more localized this year. BIA/Kelsey has quoted that location based ads will experience a growth spurt of 400 million dollars in 2010 to 2 billion in 2014! However, if you are looking for hyperlocal ads, then you will have to wait till 2012.

• "We are living in a virtual world" – this is not an exaggerated claim anymore. For instance, the popular game Farmville on Facebook is perhaps the best example. Game developers are vying to capitalize the virtual goods market. Inside Virtual Goods reported that the market was worth 2.1 billion in 2010. However, in 2011 iPhone and Android games will opt for in-app purchasing and advertising in order to monetize.

• Cross-platform HTML5 apps, non-Apple tablets, and interactive TV will be big in 2011. Blackberry and windows mobile apps will dominate the market. Google and Apple's TV have come up interactive television that will prove to be exciting.

Thus you can see that an exciting and thrilling time for technology lies in the near future. The mobile applications economy will undergo a big change in 2011. Let us wait and watch out for the likely trends!