Data that has been gleaned from app stores and the like has revealed that the revenue obtained by apps across the globe on all major app stores including the Apple App Store and the Google Play Store has seen a 15% increase year on year. This is the latest in a long line of quarters that have seen revenue growth for this sector, something that was further exacerbated by the pandemic which resulted in people becoming increasingly reliant on apps in order to keep themselves occupied during lockdowns and the like.
The revenue seen in the third quarter of 2021 is just over $33 billion, or $34.6 billion to be precise, and while the growth is definitely an important thing to consider another thing that should be kept in mind is whether or not growth has remained consistent. With all of that having been said and now out of the way, it is important to note that the growth that has been seen this quarter is actually less than half of what was seen in the same quarter last year since Q3 2020 saw a growth in annual revenue year on year of 32%.
Still, while the rate of growth might be decreasing to a certain extent, there are a lot of other factors at play here. The pandemic fueled some inordinate growth but at the end of the day this growth was always going to be more or less unsustainable and the fact that double digit growth was seen this quarter as well means that the oft predicted slowdown of the global app industry has not really started despite a lot of people from a wide range of sectors claiming that the slowdown was just around the corner.
The biggest grower here seems to be Google Play since the app store ended up seeing an 18.6% bump year on year which is actually a lot more than what the market in general saw. The fact that Google Play ended up beating the market is a real sign that things are starting to get stronger for Apple’s biggest competitor and we might just end up seeing a day where Google Play becomes the dominant player in the market with all things having been considered and taken into account.
Apple’s growth for its App Store is not quite as impressive but it’s still pretty reasonable. The growth that the App Store saw was 13.2%, and while this was more than 5 points lower than Google it’s still a number that people that make apps are going to stand by in a lot of different scenarios since it seems to indicate that things are going to continue to grow as time goes by and apps can rely on this growth to fuel further innovation in their respective fields.
The highest earning app this quarter is TikTok which shows that the social media platform’s rapid rise to the very top of the global social media stage is fueling high profits for the company that owns it and this indicates that the app’s dominance is going to continue as we move forward. Piccoma, a manga reading app, reached the number two spot, and Google’s own Google One app reached the top at the Google Play Store although TikTok still managed to be the highest revenue earning app overall as well as on the app store where it found even more success.
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The revenue seen in the third quarter of 2021 is just over $33 billion, or $34.6 billion to be precise, and while the growth is definitely an important thing to consider another thing that should be kept in mind is whether or not growth has remained consistent. With all of that having been said and now out of the way, it is important to note that the growth that has been seen this quarter is actually less than half of what was seen in the same quarter last year since Q3 2020 saw a growth in annual revenue year on year of 32%.
Still, while the rate of growth might be decreasing to a certain extent, there are a lot of other factors at play here. The pandemic fueled some inordinate growth but at the end of the day this growth was always going to be more or less unsustainable and the fact that double digit growth was seen this quarter as well means that the oft predicted slowdown of the global app industry has not really started despite a lot of people from a wide range of sectors claiming that the slowdown was just around the corner.
The biggest grower here seems to be Google Play since the app store ended up seeing an 18.6% bump year on year which is actually a lot more than what the market in general saw. The fact that Google Play ended up beating the market is a real sign that things are starting to get stronger for Apple’s biggest competitor and we might just end up seeing a day where Google Play becomes the dominant player in the market with all things having been considered and taken into account.
Apple’s growth for its App Store is not quite as impressive but it’s still pretty reasonable. The growth that the App Store saw was 13.2%, and while this was more than 5 points lower than Google it’s still a number that people that make apps are going to stand by in a lot of different scenarios since it seems to indicate that things are going to continue to grow as time goes by and apps can rely on this growth to fuel further innovation in their respective fields.
The highest earning app this quarter is TikTok which shows that the social media platform’s rapid rise to the very top of the global social media stage is fueling high profits for the company that owns it and this indicates that the app’s dominance is going to continue as we move forward. Piccoma, a manga reading app, reached the number two spot, and Google’s own Google One app reached the top at the Google Play Store although TikTok still managed to be the highest revenue earning app overall as well as on the app store where it found even more success.
