The Google Inc. (NASDAQ:GOOG) Android Market is growing at a rapidly increasing pace. The Android Market has hit 20,000 applications and the popularity of the mobile application store will keep increasing as the Google Android operating system market share is increasing. Google is developing their own branded phones now too. The Google Android Market doubled in the number of applications from about 5 months ago.
Of the 20,000 applications on the Android Market, about 38% are paid and 62% are free. Even though the Apple App Store has bigger number of applications, Google will still make a lot of money from Apple through the acquisition of AdMob. AdMob is one of the biggest mobile advertising companies that works with Google and Apple applications.
Below is a chart of the amount of new applications added every month as provided by AndroLib.com [via MobileCrunch]: