According to a report released today by the mobile security firm Lookout, the Android Market is growing at three times the rate of the iTunes App Store. The number of apps in Apple's store increased by 44% since August, while the number of Android Market apps increased by 127% during the same period. This is according to Lookout's App Genome Project report, based on an analysis of more than 500,000 mobile apps for these platforms.
Apple's store still has more apps, but that may not last long. Apple has 350,000 apps for the iPhone, compared to 88,000 in the Android Market. But according to Lookout Chief Technology Officer Kevin Mahaffey in an interview with CNET, "If apps continue to be developed for each platform at this same rate, the Android Market will have more apps than the Apple App Store by mid-2012."
Apple also has a much higher percentage of paid apps (66%), but that percentage has declined from 70% since August. 34% of the apps on the Android Market are paid apps, and that has increased from 22% since August.
It will be interesting to see the impact that subscriptions and in-app purchases have on the app market in the next year as well.