Developers minted $1.1 trillion in billings and sales on Apple App Store

Apple App Store now houses more than 1.8 million apps, 123 times more than when it started operation in 2008

It's a known fact that compared to Google Play, Apple App Store has been more lucrative for app developers. However, not many know how big and wide the gap has grown over the years.

In the latest report, the app developers made a whopping $1.1 trillion worth of business in terms of billings and sales on apple App Store. That's more than the annual Gross Domestic Product(GDP) of several countries around the world.

There is a notion among commoners that Apple charges a premium of 30 per cent cut on every in-app purchase. However, in recent years, particularly during the Covid-19 outbreak-induced lockdown, Apple in a bid to support small and medium-sized app developer companies (with less than $1 million/year revenue), reduced the gate-keeping charge by 50 per cent.

Add to that, Apple offers local payment options around the world. Currently, it supports more than 195 local payment methods and 44 currencies across 175 storefronts. Not just that, App Store allows developers to expand their reach beyond their nation's borders and help them become global brands.

Thanks to such thoughtful initiatives, Apple App Store ecosystem is thriving better than ever before and registering a healthy 29 per cent growth.

The independent study conducted by economists from Analysis Group says more than 90 per cent of the total revenue ($1.1 trillion) from sales and billings directly went to app developers, with no commission to Apple.

Apple App Store statistics. Credit: Apple

“We’ve never been more hopeful about — or more inspired by — the incredible community of developers around the world. As this report shows, the App Store is a vibrant, innovative marketplace where opportunity thrives, and we’re as committed as ever to investing in developers’ success and the app economy’s future,” said Tim Cook, Apple’s CEO.

The report also revealed that sectors such as travel and ride-hailing, rebound stronger and also there was good growth in advertising spend in apps like social media and retail apps.

As App Store turns 15, Apple shared interesting statistics about its strong growth over the years since its inception in 2008.

Apple App Store now houses more than 1.8 million apps, 123 times more than when it started operation. And, iOS users have downloaded apps more than 370 billion times from 2008 to 2022.

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