Apple app store revenues have grown 3500% in 10 years

A cursory glance shows that Apple's app store revenues have risen astronomically in the last 10 years, driven by massive consumer-level hardware adoption and widespread app access.

According to figures collected by journalist Jon Erlichman (sourced by Sensor Tower), Apple's app store earnings have spiked by 3500% in the last 10 years. In 2010, the app store made $2 billion, and in 2020 the digital marketplace raked in a whopping $72 billion. Over half of these earnings--roughly 66%, or $47.5 billion--was from games and in-game purchases sold on the storefront, Niko Partners analyst Daniel Ahmad said.

This services growth is attributed to increased access points from more hardware availability, as well as the recent emphasis on digital sales and content from COVID-19 lockdowns. Apple has yet to reveal official data on its app store revenues, but CEO Tim Cook affirmed the store grew throughout 2020.