The mobile Web 2.0 global market will be worth $22.4bn (£11.5bn) by 2013, spearheaded by the rise in user-generated content (UGC) and social networks.

Over the next five years, the revenues will rapidly grow from their current value of $5.5bn, according to analyst Juniper Research. Income from UGC and networking sites will swell from $1.8bn to $11.2bn, accounting for roughly half the international market.

The consumer appeal of having mobile access to social sites will create vast business opportunities, said Juniper analyst Ian Chard.

“The phone is carried with us most of the time and contains a huge amount of personal data, making it a logical extension for the social network and a host of other collaborative Web 2.0 applications being mobilised.”

Service revenues will form the backbone of the sector's revenues, according to Juniper Research, but mobile advertising will also be a strong growth area.