Apple Shares 2024 Global App Store Study, Claiming It Has Contributed $1.3 Trillion To The World Economy, While Collecting 0 Percent Commission From 90 Percent Of The Amount

The App Store and its business model have been a target for entities like the EU, stating that Apple has to adjust its practices by presenting a fair competing ground for rivals. While these exchanges will continue to happen back and forth for several years, the Cupertino firm has taken the opportunity to provide evidence on how the very platform it provides for millions of developers to list their apps, which has been in the crosshairs of antitrust watchdogs, has contributed to the global economy. The company has published a 2024 App Store study revealing that this contribution amounts to $1.3 trillion.

The App Store has grown immensely since 2019, and its contribution to the global economy has increased by 252.9 percent in a span of five years

The economic study was performed by analysts Jessica Burley, and Professor Andrey Fradkin, with AppleInsider reporting that support for this study was provided by Apple, but the opinions and conclusions expressed are exclusively those of the authors. The 2024 App Store study reveals how much the Cupertino giant has contributed to the global economy over the last year and how much it has grown since 2019. Diving into the details, the $1.3 trillion figure does not account for Apple’s first-party apps or browsers like Google Chrome.

Additionally, the company claims that it has not collected commissions from 90 percent of the $1.3 trillion in billings and sales generated by the App Store ecosystem, but it has grown from $514 billion in 2019 to $1.3 trillion in 2024, resulting in a 252.9 percent increase. China accounted for the highest sum at $539 billion, with the U.S. coming in second place at $406 billion, and Europe at third at $148 billion. The sources cited from the App Store study are Statista, Comscore Media Matrix, Statcounter, Omdia, JP Morgan, and others.

Of the $1.3 trillion, the $1 trillion amount came from physical goods, while $131 billion came from digital goods, with $150 billion coming from ads. The latest study would suggest Apple’s App Store platform provides some cushion to the global economy, but the incessant complaints from the more vocal developers would hint otherwise, as some of them have to part with 30 percent of their annual revenue, which removes a massive chunk from their earnings.