Recent years have witnessed unprecedented growth in the development and usage of mobile apps. While there are indications that mobile apps hold great potential in shaping a new ecosystem, research in this area is just burgeoning. In this study, we aim to better understand the relevant determinants and characteristics in the rapidly evolving mobile app markets by drawing upon the recent studies in mobile apps. In particular, we focus on the demand side and supply side as well as value creation of the emerging app markets. We also identify research gaps and suggest future research agenda.