App Store: $1 trillion and counting: The amount of money developers generated in sales and billings from the App Store – Times of India
A study conducted by the economists from Analysis Group estimate that last year, App Store developers generated $910 billion in total billings and sales from the sale of physical goods and services, $109 billion from in-app advertising, and $104 billion for digital goods and services.
“We’ve never been more hopeful about — or more inspired by — the incredible community of developers around the world,” said Tim Cook, Apple’s CEO. “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.”
The driving factors of growth
The study also revealed that a lot of factors are behind this growth and threw up some interesting numbers. The rebounding demand for sectors like travel and ride-hailing, and strong growth in advertising spend in apps like social media and retail apps contributed to the growth in billings and sales.
Furthermore, developer billings and sales increased by 27 percent between 2019 and 2020; 27 percent between 2020 and 2021; and 29 percent between 2021 and 2022. “Small developers in particular found tremendous success on the App Store — outpacing larger developers by growing their revenue by 71 percent between 2020 and 2022,” the study revealed.
Travel sales made on iOS apps increased by 84 percent in 2022, alongside a 45 percent increase in sales on ride-hailing apps. Food and grocery sales were also among the fastest-growing app categories. Since 2019, iOS app-based food delivery and pickup sales more than doubled, and grocery sales more than tripled. In addition, enterprise apps have grown in popularity with companies around the world in the last few years, said Apple.
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