17 App Revenue Statistics - Mobile Is Changing the Game in 2024

Manage your life, work, and everything from your smartphone in this modern age! 

The impact of mobile-first software on a company's success cannot be ignored. Recent statistics prove that 47% of US smartphone users can't imagine living without their devices.

The mobile app market generated $581.9 billion in revenue by the end of 2020. And it doesn't stop there – the numbers are projected to skyrocket, setting new records for app publishers' revenue. 

In this article, you will learn mind-boggling stats that prove that apps reshape how we live and do business.

Let’s get started!

App Revenue Statistics Overview

In the last decade, the mobile app industry brought billions for Apple, Google, and developers. In 2022, Apple reported $1.1 trillion from the App Store, including $104B from digital sales. Initially overlooked, app stores are now vital income sources for iOS and Android.

Despite having less market share, iOS leads in revenue due to its popularity in high-income regions like Japan and the US, where people spend more on apps. 

Now, let's look at some important data regarding App Revenue Statistics.

Impressive App Revenue Statistics

According to 2023 app revenue statistics, almost 5 million apps are available, 96.4% of which are free on the Google Play store. Considering that most are free, how do apps make money? Advertising plays a significant role, as well as in-app purchases. 

Here are app insightful app revenue statistics: 

1. The market for in-app purchases worldwide increased by $34.88 billion between 2021 and 2022. 

(The Business Research Company) 

In-app purchase statistics for 2023 reveal that users spent $380 billion on in-app purchases. At a Compound Annual Growth Rate (CAGR) of 24.6%, the size of the worldwide in-app purchase market increased from $141.75 billion in 2022 to $176.63 billion in 2023.

This means the economy for mobile apps is currently doing well.

2. There are over 5.195 million apps out there.

(Bank My Cell) 

The most recent figure shows that over 5.195 million apps are available across all app stores, with 3.553 million on Google Play and 1.642 million on Apple's App Store.

The good thing about apps is that they do not require any browser to function; instead, data is kept in the app, making it faster and more convenient for users. 

3. With $11.93 million, the fitness app with the most revenue in 2022 was Calorie Counter by MyFitnessPal.

(Statista) 

According to the most recent’s data from Statista, MyFitnessPal’s Calorie Counter generated an impressive $11.93 million in revenue in 2022. 

The apps became popular because many fitness enthusiasts could get help using MyFitnessPal, especially those gym rats worried about their calorie intake.

4. The Google Play Store generated $42.3 billion from apps and games in 2022.

(Mobile Marketing Reads) 

In 2022, Google Play produced $42.3 billion from applications and games, an 11.6% decrease from the previous year.  

This implies that Google Play revenue from apps and games dropped from $47.9 billion in 2021 to $42.3 billion in 2022.

5. On the Play Store, almost 97% were freely available.

(Bank My Cell) 

With 3.553 million mobile apps in the Google Play Store, 69.9% (3.442 million) are free to download, while 3.1% (110 thousand) are paid apps.

The Top-Selling Apps of 2023

Here's the list of the top-selling apps for this year.

With recent mobile gaming statistics showing that 62% of people install a game on their phone within a week of owning it, more smartphone companies are now releasing devices primarily designed for gaming.

App Revenue Statistics

The mobile app is a software application developed for mobile devices. They are way faster and easier to use than regular websites. This is partly why they are becoming a major focus for leading software development companies, allowing the market to grow constantly.

This section will provide you with the most recent app revenue statistics.

6. The mobile app revenue estimate is expected to reach $613 billion by 2025.

(Statista) 

There will be roughly 3.553 million apps for Android devices on the Google Play Store in 2023. Conversely, there are approximately 1.642 million apps in the Apple App Store.

The applications market is growing, as there is a prediction that the mobile app revenue estimation will reach $935 billion by 2023.

Mobile apps help businesses increase brand recognition, boost client loyalty, and gain profit.

7. 142.6 billion apps were downloaded from the iOS App Store in 2022.

(Business of Apps) 

iOS or iPhone operating system support every Apple mobile device. Aside from iPhones, iOS devices also include iPads and iPod Touches.

The total downloads of all apps from the iOS App Store were 142.6 billion, while there were 110 billion app downloads from the Google Play Store in 2022.

The two biggest mobile application distribution platforms deliver quite different results in terms of revenue and downloads.

Both stores offer excellent apps; however,  Apple Store gives users access to higher-quality apps. 

8. By 2026, consumer spending on the App Store will be approximately $161 billion.

(Statista) 

By 2026, consumer spending on Google Play and App Stores will total $233 billion. An estimated 5% of users spend money on in-app purchases. Most of them are based in Asia, North America, and Europe.

App sales statistics show 48.2% of all mobile app earnings are from In-app purchases. Paid app revenue comes second, with 37.8% of the total.

The global monthly in-app spend per user, per app, is $0.50. The average in-app purchase per user differs for Android and iOS users. The average prices are 0.47 cents for Android and $1 for iPhone owners.

The convenience the App Store brings consumers is one of the primary reasons why the market has continued to increase over the years. 

9. 98% of Google Play revenue comes from “freemium” apps

(Bank My Cell) 

Apps that charge for download (paid apps) are expected to decrease even more in the next few years. Free apps generate 98% of Google Play Store revenue, while in-app purchases account for 48.2%.

Most free apps generate money from advertising. Due to their effectiveness, they are shown and monetized in a mobile app in various ways.

10. The Google Play Store market had around 1 million low-quality apps as of 2023.

(Sports Lens) 

These are applications that provide little to no value to users. The quantity of poor-quality apps available on the Google Play Store shows a yearly increase of 8%, from around 930,000 in January 2022 to over 1 million in 2023.

App stability is the most frequent cause of poor-quality apps and customer dissatisfaction. Luckily, Google removes them from the Play Store every quarter.

Top Apps by Revenue

Mobile apps are dominant compared to their web-based counterparts in terms of usage, and as a result, US adults spend more than 5 hours on their mobile phones daily.

Most growing apps are gaming apps, with just a few exceptions, like Tinder, a dating app, and Bigo Live, a social app. Tinder alone has made 30 billion matches. Statistics anticipate that app revenue trends for 2023 will follow a similar pattern.

Here are the top applications for revenue.

11. App Store app downloads grew by 1.99%, while Google’s decreased by 11.6% in 2022. 

(Business of Apps & Mobile Marketing Reads) 

Even though game apps are most commonly created and have the highest revenue, only 65% of users claim to have games on their mobile devices. The previous gaming apps for market penetration are those for social and communication, productivity, task management tools, commerce, and travel.

This data clearly shows the supply of mobile game apps differs from the demand

12. The top app categories by consumer spending worldwide are games, entertainment, and social networking.

(Business of Apps)  

Google Play users' most significant consumer spending was in games, entertainment, and social categories. However, Video Players and Editors, House & Home, and Health & Fitness had the highest quarterly growth, with 21%, 21%, and 20%, respectively.

Paid apps will decrease in the following years, giving way to the in-app advertising revenue model. Another app revenue trend for the future is the subscription model for non-game apps and in-app purchases for game apps.

Non-Game Apps Revenue Stats

Now: Most consumer spending on apps goes to gaming apps through in-app purchases. However, in 2023, paid subscriptions as an app revenue stream will become more prevalent in non-game apps.

13. TikTok wins the race when it comes to non-game app revenue.

(Business of Apps & Macro Trends) 

TikTok makes $110 million per month from user spending. According to TikTok statistics released in late 2019, 24% of its in-app purchases since 2018 have come from the American market, which amounts to $23.1 million.

The bottom line: 

The top revenue-driving non-game apps are in the photo and video category, followed by entertainment. App Annie foresees these app revenue trends staying around in the future. Video services like Netflix and Hulu already provide apps for their users. 

Mobile Games Statistics

Almost 25% of all available applications in Apple’s App Store are games, making it the largest category, three times bigger than the lifestyle category. Trailing closely is the education category, the third-highest in the ranking. Players spent $41.2 billion worldwide on mobile games and in-app purchases in Q1 2022. 

14. Just over 62% of all mobile users in the US have games on their smartphones.

(Idea Usher) 

Gaming apps are the most popular and frequently purchased on Google Play. It accounts for nearly 14% of all applications worldwide, as over one-third of the world's population are active gamers.

The data clearly shows the enormous contrast between the relatively few successful games that drive the market and the swarms of games that don’t. 

Mobile Games Revenue

In 2022, 142.6 billion mobile game downloads were made. Mobile gaming has become a massive industry where developers of successful games generate millions in revenue.  

Some of the key statistics for mobile games revenue are listed below.

15. On Google Play, 97% of all apps are free. 

(Statista) 

The number of free apps on Google Play and the Apple Store has been consistently higher than paid apps. As of March 2023, 97% of apps in the Google Play store were freely available.

Most of Google Play Store revenue came from their free apps. If the software is free, customers will have reduced expectations and will only stand to lose something by using it. 

16. There were 87,000 new applications in February 2023 alone on the Google Play Store.

(Statista) 

The Play Store released 87,000 new apps in the second month of 2023. 

App Monetization Options

Mobile app revenue can be generated in various ways. Some of them include but are not limited to integrating in-app ads and getting paid from ad networks, offering consumable in-app products for purchasing, requiring a paid subscription plan, demanding per-device royalties, and charging a small amount per download.

Mobile app industry analysis demonstrates that some are more effective than others.

17. In-app purchases make up about 50% of non-game applications and more than 79% of gaming apps' revenue streams.

(Business of Apps)

The monetization model bringing in the most significant revenue is in-app purchases. This is the source of 48.2% of all revenue. Next comes the paid download model, which accounts for 37.8% of the gross income.

In-app purchases are the most common revenue model used by developers. Estimates suggest that 50% of non-game apps and an even higher 79% of game apps use in-app purchases alone or as a part of their monetization stream mix.

Conclusion

There are many different app categories out there. These include games, dating apps, productivity and project management apps, lifestyle apps, and many more. Different types often use a wildly different mix of strategies and monetization models. For this reason, their revenue differs significantly. 

It's hardly encouraging that only 0.01% of all apps ever made are downloaded successfully. On the other hand, you can ask if the challenge is worthwhile after seeing the annual revenue of the top apps.

The app market continues to grow based on the expected daily global app downloads and the annual income generated by successful apps. It has many tricks at its disposal to keep growing.