Breaking News Near Me | Trending News

$643 billion: What the App Store is worth for Apple, apps developers and others

In 2008 when Apple first launched the App Store, there were about 500 apps on it. No one back then would’ve thought that the app ecosystem and the App Store would become this big and such an integral part of people’s lives. But how big is the App Store in terms of revenue? According to latest numbers released by Apple, the App Store “ecosystem facilitated $643 billion in billings and sales during 2020, a 24 percent year-over-year increase.”
Further, a study done by economists from the Analysis Group states that developers selling goods and services across many categories grew their businesses while reaching customers around the world.
Both big and small app developers seem to have seen an uptick. According to Apple, more than 1 in 4 small developers who sell digital goods and services on the App Store have grown their earnings by an average of at least 25 percent each year for the past five years. Nearly 80 percent of small developers on the App Store are active across multiple countries’ storefronts — and on average, these developers see earnings from users in more than 40 countries.
“Developers on the App Store prove every day that there is no more innovative, resilient or dynamic marketplace on earth than the app economy,” says Tim Cook, Apple’s CEO.
To highlight how big a reach an impact of the App Store has been, Apple cited the example of Kidoland, an app that makes learning fun for young children, was launched in 2012 by brothers Aditya and Nishant Mohatta in India. Since then, the app has been downloaded more than 6 million times and has grown to a team of more than 40 people.
“To know that children in 174 countries have played our songs more than half a billion times — it means a lot to us, especially as fathers,” says Aditya Mohatta. “This growth has meant we can create stable jobs for people in our communities,” Mohatta added.
Meanwhile, Apple’s annual developer conference — WWDC — is set to begin from June 7. Developers from across the world will take part in the event. Apple is also expected to unveil new versions of its operating systems on various devices like iPhone, iPad, Mac, and Watch.

Leave a Reply