Apple: Apple App Store will generate $1.1 trillion in revenue in 2022, with more than 90% going to developers and businesses

Recently, Apple announced that in 2022, the App Store generated $1.1 trillion in developer business and sales, a year-on-year increase of 29%. Among them, more than 90% of the business and sales were entirely attributed to developers and companies.

The data comes from a study conducted by economists at Analysis Group, which shows that of the $1.1 trillion, $910 billion came from physical goods and services, $109 billion came from in-app advertising, and $104 billion came from digital goods and services.

Analysis Group took a deep dive into the key drivers behind the growth of the App Store ecosystem, including a rebound in demand in industries such as travel and ride-hailing, and strong growth in advertising spending for apps such as social media and retail apps.

The App Store is an important part of Apple's service business and a major source of profit for the company. Over the past few years, the App Store's business size has grown steadily, from $643 billion in 2020 to $868 billion in 2021, and will exceed $1 trillion in 2022.

The App Store had a record year in 2022, with subscribers growing to 900 million, up from 745 million in 2021. This figure includes users who subscribe to any service through the App Store, not just subscribers to Apple TV+ and Apple Music.

In addition, the number of users visiting the App Store also reached a new high in 2022. In January this year, Apple pointed out that more than 650 million visitors from 175 regions around the world visited the App Store every week.

From TechWeb