Apple Inc. (AAPL) is booming with another feather in its cap as its App Store has tuned five recently. While more than 900,000 unique apps in its kitty, App Store is fastest growing App store, serving to hundreds to thousands of app developers across the globe.
When visionary Steve Jobs, then CEO of Apple, introduced iPhone first time to the world, no one ever imagined how the device would change the whole paradigm of mobile computing. Though, first iPhone was loaded only with few statutory apps like Safari, Weather and Stocks, its was Steve’s vision to open iPhone to external software developers that has resulted in 50 billion downloads of apps.
Apple Inc. App Store: Revenue And Downloads
Till June 2013, Apple has paid out more than US$10 billion to developers. The reason is simple, Apple App Store generates 2.6X more revenue than its closest competitor Google Play Store. Even in Mobile advertisement space Apple iPhone alone generates 20.41% impressions, which is 2.5 times higher than closest rival Samsung galaxy S, with 8.71%.
While iPad was at its early stage of incubation, Apple was gearing up to open its virtual gates to all developers and on 10 July, 2008, the App Store was officially launched. Though, Steve Jobs was skeptical about the move as he was worried about external developers messing with the iPhone, later with the changed mind-set as he probably understood the value addition those developers started getting on table.
Today, apps on Apple App Store witness highest Click Though Rate (CTR) as well as Cost Per Click (CPC), which is driving developers towards new heights of motivation and innovation. In last 6 years, Apple has introduced total 11 mobile computing devices (variants of iPhone + iPad) and enjoys great influence over mobile app development market that is projected to be worth $100 billion by 2015.
The below infographic over showcases the introduction, growth, challenges and milestones of Apple App Store.