The Busy Brains
6 Jun 2023
A recent study reveals that App Store developers generated $1.1 trillion in billings and sales in 2022. Learn about the significant growth in developer revenue, the success of small developers, and the App Store's impact on the global market.
According to a study by Analysis Group, the App Store developers achieved remarkable success, generating a staggering $1.1 trillion in total billings and sales in 2022. This study, conducted by one of the leading international economics consulting firms, reveals that App Store developers earned $910 billion from the sale of physical goods and services, $109 billion from in-app advertising, and $104 billion from digital goods and services.
The App Store continues to offer unparalleled opportunities for developers worldwide, with over 90 percent of the billings and sales going directly to developers and businesses of all sizes, without any commission paid to Apple.
"We've never been more hopeful about -- or more inspired by -- the incredible community of developers around the world," said Apple CEO Tim Cook.
"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," he added.
The revenue generated by developers experienced substantial growth, increasing by 27 percent between 2019 and 2020, another 27 percent between 2020 and 2021, and a remarkable 29 percent between 2021 and 2022.
Notably, small developers achieved exceptional success on the App Store, surpassing larger developers by witnessing a revenue growth of 71 percent between 2020 and 2022, as highlighted in the study.
The App Store's popularity is evident from the data provided by Apple, revealing that it attracted an average of over 650 million weekly visitors worldwide in 2022. Additionally, users downloaded and redownloaded apps more than 747 million and 1.5 billion times each week in 2022, respectively.
"Travel sales made on iOS apps increased by 84 percent in 2022, alongside a 45 percent increase in sales on ride-hailing apps," the findings showed.
Since its launch in 2008, iOS developers have earned a remarkable $320 billion on the App Store, according to the Analysis Group study. Furthermore, the study shows that iOS users have downloaded apps more than 370 billion times during the period of 2008 to 2022.
In terms of security and quality, the App Store has maintained stringent standards. In 2022 alone, it blocked fraudulent transactions worth over $2 billion and rejected 1.7 million app submissions that failed to meet privacy, security, and quality standards.
"Today, the App Store has more than 123 times as many apps -- nearly 1.8 million -- to choose from, compared to the thousands available on the App Store at the end of 2008," said the company.
The App Store continues to be a driving force in the global market, providing immense opportunities for developers and contributing significantly to the digital economy.