A new report about the App Store funded by Apple says that globally, the App Store economy hit $1.1 trillion in revenue last year.
Apple has released a new report that discusses the economic impact worldwide of the App Store. According to Apple, „The App Store ecosystem facilitated a groundbreaking $1.1 trillion in billings and sales worldwide in 2022.“ Before you open your phone’s calculator to figure out what Apple’s cut of this figure would be, the report makes a point of saying that more than 90% of that $1.1 trillion came from transactions that did not take place through the App Store.The vast majority of these transactions created revenue for app developers and third parties and Apple did not collect any commission on these specific transactions. The report was funded by Apple and contains analysis from economists who work for the Analysis Group. The $1.1 trillion in total billings and sales generated last year by the App Store ecosystem was up 29% year-over-year.The App Store economy includes more than app and in-app purchases
Instead of focusing on purchases made in the App Store including in-app purchases, the entire app ecosystem includes things like groceries purchased through an app, ride-sharing revenue derived from using an app (like Uber and Lyft), and travel bookings made through an app. The $1.1 trillion is the total amount of revenue worldwide that can be traced back to an app listed in the App Store.
