Recession? What recession? Juniper Research is claiming that by 2014, revenues from mobile applications will top $25 billion, with games remaining the largest category.

The company's latest report says that these revenues won't just come from the current model of paying one-off fees to download apps, either.

Instead, the rollout of micro-transaction models like those debuting this summer in Apple's iPhone 3.0 software will mean that in-app payments and subscriptions will provide the most app-related revenues by 2011.

Juniper says that games will remain the biggest category for app downloads and revenues, although when it comes to the extra payments - or VAS revenues as it puts it - multimedia and entertainment apps will get more from 2009 onwards.

The analyst also suggests that operators will launch their own app stores to compete with those from handset firms, while also predicting that traditional content aggregators may have to expand their content portfolios and change their business models to adapt.