Apple has announced that its App Store ecosystem facilitated a staggering $1.1 trillion in total billings and sales in 2022.
This figure, representing a 29% increase from the previous year, was revealed in a press release issued by the tech giant. The data underscores the strength and resilience of the App Store ecosystem, which has become a significant revenue source for developers worldwide.
The majority of these billings and sales, over 90%, accrued directly to developers, with no commission paid to Apple. This information was part of a study conducted by Analysis Group, which highlighted the robust growth in sectors such as travel and ride-hailing and a surge in advertising spend in social media and retail apps.
Apple’s CEO, Tim Cook, expressed his optimism about the future of the App Store. He praised the innovative community of developers worldwide and emphasized the App Store’s role as a vibrant marketplace where opportunity thrives.
The study also revealed that the iOS app economy now supports more than 4.8 million jobs across the U.S. and Europe, with approximately 2.4 million in each region. Furthermore, developers on the App Store 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 in 2022.
The App Store, which celebrated its 15th anniversary in 2022, has never offered developers more opportunities. Since its launch in 2008, iOS developers have earned over $320 billion on the App Store. The platform now boasts nearly 1.8 million apps, a significant increase from the few thousand available at the end of 2008.
The report also highlighted the broad-based growth of developer businesses across app categories, indicating the many ways Apple users have come to rely on their favorite apps in many aspects of their lives. Whether for gaming, productivity, education, or social media, apps are helping people worldwide stay connected, creative, and entertained worldwide.
In addition, the App Store’s technologies and services support a wide range of app businesses, including developers who sell physical goods and services. That includes integrating Apple Pay, biometric authentication with Face ID and Touch ID, account security, and other technologies that help developers securely connect with Apple users.
The App Store has also remained a safe and trusted marketplace for users, thanks to Apple’s rigorous App Review process and robust privacy and security protections. In 2022, the App Store blocked over $2 billion in fraudulent transactions and rejected 1.7 million app submissions for failing to meet privacy, security, and quality standards.
As we reported a week ago, on May 23, 2023, Apple announced the availability of Final Cut Pro for iPad and Logic Pro for iPad on the App Store.
Featured Image Credit: Apple
