Apple Unveils Breakthrough Economic Impact For The App Store Including $1 Trillion Revenue In 2022

Leading iPhone maker Apple is out with its groundbreaking economic report which speaks about the App Store’s successful ecosystem.

According to the tech giant, the store was able to generate a whopping revenue figure that extended beyond the $1 trillion mark in terms of sales for 2022, including other kinds of billings. This is a staggering 29% rise if you compare the stats from previous records.

This particular study was brought about by tech giant Apple and it entails more features regarding the App Store and how so many purchases were made through this system. For instance, it entails some ordeals including grocery shopping orders, bookings through applications, and even travel plan purchases. Let’s not forget transport affairs such as Uber and beyond.

For instance, you’ll find how the restrictions ended up getting easy in various parts around the globe and that had some categories such as travel where the sales on apps rose by 88%. Then we saw a rise in transport apps too, which was close to 45%.

Moving on to the likes of food as well as groceries, we saw that flourish further. Ever since the start of 2019, food delivery has even picked up majorly on sales and the same goes for groceries as well.

There are three main strategies being used for the sake of monetization that the firm appears to be using. For starters, it’s got to do with selling and even distributing products in the digital sector through its App Store.

All such endeavors would be done through paid installations or via sales for subscriptions. Common examples include dating, health, music, and news-related content.

The second strategy is linked to selling products physically via such platforms. Most such platforms are related to m-commerce and even entail platforms such as food delivery and even pickup with groceries.

Lastly, one other strategy for monetization has to do with selling advertising on online platforms. They include social media and apps that share short videos.

A great example worth your consideration has to do with the video streaming sector and that has a massive $30 billion figure for yearly sales across the US. So many users are taking in video streaming through smartphone applications, desktops, smart TVs, video gaming platforms, and also tablets.

Meanwhile, Apple has also shed light on how 90% of its revenue was collected alone by developers and the firm refused to take on any form of commission.

Read next: Apple Rolls Out New Tax Changes For Its Apps, In-App Purchases, And Subscriptions
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