Cupertino, May 31 (IANS): The App Store developers generated $1.1 trillion in total billings and sales in 2022, an Apple study revealed on Wednesday.
The economists from Analysis Group, one of the largest international economics consulting firms, estimate that last year, App Store developers generated $910 billion in total billings and sales from the sale of physical goods and services, $109 billion from in-app advertising, and $104 billion for digital goods and services.
The App Store continues to create incredible opportunity for developers around the world, with more than 90 percent of the billings and sales accruing solely 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.
Developer billings and sales increased by 27 percent between 2019 and 2020; 27 percent between 2020 and 2021; and 29 percent between 2021 and 2022.
Small developers in particular found tremendous success on the App Store -- outpacing larger developers by growing their revenue by 71 percent between 2020 and 2022, the study showed.
The App Store attracted over 650 million average weekly visitors worldwide in 2022, according to new data from Apple. And users downloaded and redownloaded apps an average of 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.
The iOS developers have earned more than $320 billion on the App Store from 2008 to 2022.
The Analysis Group study found that iOS users have downloaded apps more than 370 billion times from 2008 to 2022.
"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.
In 2022, the App Store blocked more than $2 billion in fraudulent transactions -- and rejected 1.7 million app submissions for failing to meet privacy, security, and quality standards.