App Store developers generate US$1.1t in total billings, sales in 2022

Apple on Wednesday announced the App Store ecosystem facilitated US$1.1 trillion in developer billings and sales in 2022.

Additionally, new analysis from the Progressive Policy Institute found the iOS app economy now supports more than 4.8 million jobs across the United States and Europe, with approximately 2.4 million in each region, Apple said.

"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 US$910 billion in total billings and sales from the sale of physical goods and services, US$109 billion from in-app advertising, and US$104 billion 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.