WILLIAMSBURG, Va. – The amount of mobile apps advertising will skyrocket to more than $8 billion by 2015, according to a recent Borrell Associates prediction, Media News Daily reports.

The growth will be fueled by the increase in the number of Americans using mobile and electronic devices and the rising number of those devices that can receive mobile ad messaging. Today, one in every five computing devices can get mobile app advertising, but that number is expected to jump to three in five devices in five years. 

Local advertising will contribute 15 percent of the $8 billion business, capturing $1.2 billion. By the end of this year, $305 million will be spent on mobile app ads, which is predicted to double to $685 million in 2011.

The average smartphone has 22 mobile apps, but only 5 percent stay on the phone after six months. Around 80 percent of mobile apps cost the user nothing, but of those that do cost money, consumers shelled out $1.5 billion for those apps.