Apple on Wednesday announced the App Store ecosystem facilitated 1.1 trillion U.S. dollars in developer billings and sales in 2022.
Additionally, new analysis from the Progressive Policy Institute found the iOS
"We've never been more hopeful about - or more inspired by - the incredible community of developers around the world," said Tim Cook, Apple's CEO. "We're as committed as ever to investing in developers' success and the app economy's future."
The economists from Analysis Group estimate that last year, App Store developers generated 910 billion dollars in total billings and sales from the sale of physical goods and services, 109 billion dollars from in-app advertising, and 104 billion dollars for digital goods and services.
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, according to the Analysis Group study.
The App Store's engine of commerce provides Apple developers around the world with a global distribution platform that supports more than 195 local payment methods and 44 currencies across 175 storefronts.
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.