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Apple App Store sales hit a whopping $643 Billion last year

Source: JointheAvid

Based on an independent study of the ios App Store generated $643 billion in sales and billings last year ( including Apple's cut of in-app purchases and ad sales), up 24% from the $519 billion during 2019. According to AppleInsider, the study, titled "A Global Perspective on the Apple App Store Ecosystem," reveals that not only did iOS app developers expand their business in 2020, they also expanded their customer base.

Since 2015, the number of small developers on the App Store has grown by 40%. Who's a small developer? The one with fewer than 1 million downloads and less than $1 million in earnings and 90% of App Store developers fit this definition and 25% of them have managed to increase their earnings by 25% a year over the last five years.

On average, developers get paid from customers located in more than 40 countries. Overall, the App Store is available in more than 175 countries and regions, supports more than 40 different languages, 45 different currencies and over 200 different payment methods.

Apple CEO Tim Cook says, "Developers on the App Store prove every day that there is no more innovative, resilient or dynamic marketplace on earth than the app economy."

Last month Epic and Apple wrapped up a two-week trial. Apple App Store has been called anti competitive since Apple doesn't allow iOS and iPadOS users to install apps from any other app store outside of the App Store and does not allow third party payment methods. The App Store has become a center of controversy because of all these.

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