Apple App Store The economy is already worth $1.1 trillion a year., according to an independent study by an analysis team. The figure consists of $910,000 million corresponding to billing and sales for the commercialization of physical goods and services. $109,000 million for in-app advertising. Finally, $104 billion for digital goods and services.
According to the report, one of the main drivers of the growth of the App Store ecosystem is the recovery in demand in sectors such as travel, which grew by 84%. VTC also contributed to a 45% increase in sales.
The Analysis Group also sees an increase in in-app ad spend in categories such as social media and retail. In addition, food sales and supermarket orders are among the categories with the largest sales growth, with more than double and triple increases, respectively.
Finally, the App Store and content creator-focused social platforms like TikTok or Instagram have seen quite a bit of growth in entertainment apps.
Growth of the app economy in the Apple App Store
According to Analysis Group research, the annual growth of the App Store app economy is:
- 27% between 2019 and 2020
- 27% between 2020 and 2021
- 29% between 2021 and 2022
It also ensures that small and medium sized developers have experienced 71% growth between 2021 and 2022 compared to large companies featured on the App Store. Since 2019, there has been an 80% increase in developer sales and billing. In particular, in Europe growth is above average and amounts to 116%.
In 2023, the Apple App Store celebrates its 15th anniversary. Launched in 2008 with the iPhone 3G, it’s a secure way to download apps without the fear of installing viruses or software that could compromise people’s privacy. Over the past decade and a half, iOS developers have earned more than $320 billion, according to Analysis.
But the App Store has expanded to other Apple platforms: it’s now also available on iPadOS, macOS, watchOS, and tvOS. In all cases, they offer the same experience with a single point of search, download, and app purchases.
In accordance with Mansana, over $2,000 million worth of fraudulent transactions were blocked throughout 2022. They also rejected a total of 1,700,000 apps for not meeting privacy, security and/or quality requirements. It will likely be announced during WWDC that the company will allow alternative app stores.
Source: Hiper Textual
I’m Ben Stock, a highly experienced and passionate journalist with a career in the news industry spanning more than 10 years. I specialize in writing content for websites, including researching and interviewing sources to produce engaging articles. My current role is as an author at Gadget Onus, where I mainly cover the mobile section.
