A study conducted by economists from Analysis Group and sponsored by Apple has revealed that App Store users reportedly spent a whopping $1.1 trillion. The findings were shared by the tech giant on Wednesday, May 31, as part of an ongoing initiative to showcase the advantages of the App Store and the achievements of developers on the platform.
Developer billings and sales in the App Store increased by a whopping 29% from 2021 to 2022, with the most notable growth in the travel and ride-hailing service sectors. Over the past couple of years, the App Store has had consistent growth, from $643 billion (2020) to $868 billion (2021), and surpassing a trillion in 2022.
In a press release, Apple stated the App Store has “remained a safe and trusted marketplace for users, thanks to Apple’s rigorous App Review process and robust privacy and security protections.” They have also explained the several measures they put in place to retain user trust and prevent fraudulent transactions.
Since the launch of the App Store 15 years ago, iOS developers have earned over $320 billion directly from the platform from 2008 to 2022. Today, there are 123 times more apps available when compared to the end of 2008, with over 370 billion app downloads since its inception. Games make up the biggest number of apps, followed by apps related to business and education.
Analysis from the Progressive Policy Institute shows that the iOS app economy supports more than 4.8 million jobs across the United States and Europe, with around 2.4 million in each region.
Apple CEO Tim Cook said:
“We’ve never been more hopeful about — or more inspired by — the incredible community of developers around the world. 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.”