In 2022, Apple's App Store developers reportedly generated $1.1 trillion in billings and sales.
Developer billings and sales topped the trillion dollar mark last year, which built "on developers' track record of strong, resilient growth," Apple said in a news release issued May 31, that cited an independent study by Analysis Group economists.
"We've never been more hopeful about — or more inspired by — the incredible community of developers around the world," Apple CEO Tim Cook said in the news release. "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."
The study found more than 90% of billings and sales from the App Store go directly to developers and companies of all sizes, with no commissions paid to Apple, marking a tremendous opportunity for developers worldwide, the release reported.
The iOS app economy sustains more than 4.8 million jobs in the U.S. and Europe, roughly 2.4 million in each region, Progressive Policy Institute reported last year, according to the release.
Developers have more options than ever on the App Store to monetize their products and create profitable enterprises, the release said. The Analysis Group study found sales of physical products and services accounted for $910 billion of the total billings and sales made by App Store developers last year, while in-app advertisements brought in $109 billion and digital goods and services brought in $104 billion.
The Analysis Group study also noted factors that contributed to the rise of the App Store ecosystem, such as the substantial increase in advertising spending on social networking and retail applications and the rebounding demand for industries like travel and ride-hailing, according to the release. Between 2019 and 2020, developer billings and sales rose by 27% and by the same amount between 2020 and 2021, before rising by 29% between 2021 and 2022.
Small developers in particular have great success on the App Store, outperforming larger developers and increasing their revenue by 71% between 2020 and 2022, the release reported. Growth rates of this nature are encouraging signs of a thriving market that is characterized by vitality, innovation and competition, according to the study.
