The App Store ecosystem facilitated an impressive $1.1 trillion in developer billings and sales in 2022, according to a study conducted by economists from Analysis Group.

The App Store ecosystem facilitated an impressive $1.1 trillion in developer billings and sales in 2022, according to a study conducted by economists from Analysis Group. The study highlights the resilience and strength of the App Store, with a 29% year-over-year growth in billings and sales. Notably, over 90% of the revenue accrued solely to developers and businesses, without any commission paid to Apple.

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The Analysis Group study delves into the factors driving the growth of the App Store ecosystem. It identifies rebounding demand in sectors like travel and ride-hailing, as well as increased advertising spend in apps like social media and retail apps. The study reveals that small developers experienced remarkable success, surpassing larger developers with a revenue growth of 71% between 2020 and 2022.

In addition, the iOS app economy has contributed significantly to job creation, supporting more than 4.8 million jobs across the United States and Europe, reveals a new analysis from the Progressive Policy Institute.

The Analysis Group’s study estimates that App Store developers generated $910 billion 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 App Store continues to provide developers with numerous opportunities to monetise their apps. In 2022, 54% of app downloads occurred in storefronts outside developers’ home countries. The App Store attracted over 650 million average weekly visitors worldwide in 2022. And users downloaded and re-downloaded apps an average of more than 747 million and 1.5 billion times each week in 2022, respectively

Categories such as travel, ride-hailing, food and grocery, enterprise, and app-based entertainment experienced significant growth. Travel sales on iOS apps increased by 84%, ride-hailing app sales grew by 45 %, and food delivery and pickup sales more than doubled since 2019. Furthermore, enterprise apps and app-based entertainment witnessed substantial growth.

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Since its launch in 2008, the App Store has helped create economic opportunities for developers. iOS developers have earned over $320 billion from the App Store, and users have downloaded apps more than 370 billion times. The App Store now offers nearly 1.8 million apps, compared to the thousands available in 2008.

The App Store ecosystem facilitated an impressive $1.1 trillion in developer billings and sales in 2022, according to a study conducted by economists from Analysis Group. The study highlights the resilience and strength of the App Store, with a 29% year-over-year growth in billings and sales. Notably, over 90% of the revenue accrued solely to developers and businesses, without any commission paid to Apple.

ALSO READ l Apple to expand trade-in program for new Macs at WWDC, report says

The Analysis Group study delves into the factors driving the growth of the App Store ecosystem. It identifies rebounding demand in sectors like travel and ride-hailing, as well as increased advertising spend in apps like social media and retail apps. The study reveals that small developers experienced remarkable success, surpassing larger developers with a revenue growth of 71% between 2020 and 2022.

In addition, the iOS app economy has contributed significantly to job creation, supporting more than 4.8 million jobs across the United States and Europe, reveals a new analysis from the Progressive Policy Institute.

The Analysis Group’s study estimates that App Store developers generated $910 billion 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 App Store continues to provide developers with numerous opportunities to monetise their apps. In 2022, 54% of app downloads occurred in storefronts outside developers’ home countries. The App Store attracted over 650 million average weekly visitors worldwide in 2022. And users downloaded and re-downloaded apps an average of more than 747 million and 1.5 billion times each week in 2022, respectively

Categories such as travel, ride-hailing, food and grocery, enterprise, and app-based entertainment experienced significant growth. Travel sales on iOS apps increased by 84%, ride-hailing app sales grew by 45 %, and food delivery and pickup sales more than doubled since 2019. Furthermore, enterprise apps and app-based entertainment witnessed substantial growth.

ALSO READ l WWDC 2023: Top hardware announcements to expect at Apple’s ‘biggest’ worldwide developers conference in years

Since its launch in 2008, the App Store has helped create economic opportunities for developers. iOS developers have earned over $320 billion from the App Store, and users have downloaded apps more than 370 billion times. The App Store now offers nearly 1.8 million apps, compared to the thousands available in 2008.