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App Store Revenues Surged by 30% YoY and Hit $72.3B in 2020

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The ongoing coronavirus pandemic continues driving impressive growth of the global app market. As one of the two largest distribution channels for mobile apps, Apple App Store has witnessed a surge in revenues and the number of downloads amid the lockdown.

According to data presented by BuyShares.co.nz, App Store users spent $72.3bn on in-app purchases, subscriptions and premium apps in 2020, a 30% jump year-over-year.

Mobile Games Top the iOS Apps Ranking

Even before the pandemic, the number of app downloads was continually increasing. In the first quarter of 2015, mobile phone users worldwide downloaded 15.9 billion apps in both Google Play and App Store, revealed Sensor Tower and Apple Insider survey. By the end of 2017, the quarterly number of downloads jumped to 23.4 billion and continued growing.

App Store users spent an estimated $38.7bn on in-app purchases, subscriptions and premium apps that year. By the end of 2019, revenues soared by 44% to $55.5bn.

However, App Store witnessed impressive growth in revenues and the number of downloads in 2020, as mobile app usage surged amid the COVID-19 lockdown. Statistics show iOS users hit 26.6 billion downloads in the first nine months of 2020, 16% more than the same period in 2019. App Store revenues jumped by $16.8bn in a year and hit $72.3bn in 2020.

Mobile games ranked as the most popular app category in App Store, with a 22% share among active apps last year. Business apps were the second most popular app category, with a 10.1% share. Education, lifestyle, and utility apps follow, with 8.7%, 8.6%, and 6% share, respectively.

iOS App Developers Hit $200B in Earnings, a 30% Increase in a Year

The 42matters data revealed that 92.7% of available apps in the Apple App Store as of January were free to use or utilize a freemium payment model, which allows the user to download the app without upfront costs but generates revenues through in-app payments. Only 7.3% of available iOS last month were paid apps.

Analyzed by the price, the large majority of paid apps, or almost 47,000 apps, were priced less than a dollar. Statistics show that 25,000 apps cost between $1 and $2, and another 16,000 between $2 and $3. Only 3,200 iOS apps were priced between $9 and $10.

The Apple data revealed 2020 was a fantastic year for iOS app developers, as well. In December, the average number of new app releases in the Apple App Store per hit 41.7 thousand, almost a 7% increase in a year.

Moreover, as of January 2021, Apple had paid more than $200bn to iOS app developers selling goods and services through the App Store, $45bn more than a year ago.

The full story can be read here: https://buyshares.co.nz/app-store-revenues-surged-by-30-yoy-and-hit-72-3b-in-2020/

This article is syndicated from Daily Finance.

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