The Mobile Entertainment Forum’s annual Business Confidence Index has predicted growth of 24% for the year 2010. While this figure is a downward adjustment from the figure of 33% announced in Q3 2009, it still represents very healthy growth.

This change in the prediction has been caused primarily by a slowdown in northern hemisphere markets during 2009.

The MEF report also predicted that the mobile media industry would be worth $36 billion in 2010, with revenues from direct consumer purchases would soar from 46% to 73% of the total.

Andrew Bud, the Global Chair of MEF, said, “With the global economic recovery underway, the first aggregate results of the Annual BCI point to a toughened industry which has readjusted growth predictions from 33 per cent growth in Q2, down to 24 per cent. Just as industry was resistant to despair in the height of the recession in the first quarter of 2009, so it has successfully resisted exultant relief during economic recovery as reflected in a more conservative forecast for the size of the mobile media market since last year from $32 to $36 billion.”

One very bright spot in the forecast is the growth of mobile apps. Mark Harding, Director of Digital Content at KPMG, who analysed the survey findings, said: “There is optimism in the rise of applications, which look set to drive the industry forward as it continues towards recovery. Respondents now expect the value chain that develops, sells and delivers applications to account for 21% of revenue streams for the next quarter and the majority expect this to be incremental revenue.”