Few would dispute it’s exciting times in the mobile space: the app store recently enjoyed its billionth download; Google’s released yet another iteration of its Android OS; while Nokia and Microsoft have joined forces in order to finally conquer the lucrative smartphone market.

The only bugbear for many is the continuing need for resource-intensive cross-platform development. For those after the broadest possible reach, there’s iPhone, Blackberry, five different flavours of Android (and counting), and whichever platform Nokia’s using this week.

But it appears there’s new hope in the shape of HTML5 – the latest version of the language of the world wide interwebs – to aid in the creation of web apps and native mobile apps.

A common feature of modern mobile operating systems is the inclusion of a HTML5 compliant browser. All the cool kids have it, including Apple’s iOS, Android, Blackberry, and HP/PalmPre; while Microsoft’s mobile version of Internet Explorer 9 for Windows Phone 7 isn’t far off. This enables developers to use all HTML5’s fancy attributes when building apps, without fear the device won’t be able to deliver the goods.

But before you join the growing ranks of HTML5 evangelists, Mashable advises caution. In the recent post ‘How HTML5 Is Aiding in Cross-Platform Development’, writer Christina Warren said: “In truth, HTML5 isn’t the second coming. However… when combined with JavaScript and CSS3, HTML5 can do some really incredible things.”

“An increasingly viable option for mobile developers is to just use HTML5 to create a mobile web app.”

“Lots of companies – including Facebook – are looking at HTML5 as the future platform for their apps that target next generation devices.”