Paid Apps Generated $8 Billion in Revenue During 2012
Represents increase of 27 percent from 2011.
The top 5 app stores for mobile platforms generated revenue upwards of $8 billion during the entirety of 2012.
According to a new report from research2guidance, the app stores included in the figures constitutes of the Apple App Store, Google's Android Play Store, BlackBerry App World, Windows Phone Store and the Nokia Ovi Store.
The $8 billion generated by the top 5 app stores in 2012 represented an increase of 27 percent when compared to figures stemming from 2011. The average revenue for paid apps decreased by 27 percent from $26,720 in 2011 to $19,560 in 2012.
The number of smartphone and tablet apps available for consumers reached 3 million during 2012's third quarter. The Apple App Store in particular offered 951,890 apps at the end of Q3, with the Google Play Store housing 453,719. The average retail price of a premium app was $2.82 at the end of Q3; revenues reached $3.4 billion during the three month period, which resulted in 12.4 billion downloads.
The report, however, warned that the industry has now apparently reached a point where the number of new apps is greater than the demand for them.
During the last week of 2012, 1.76 billion iOS and Android applications were downloaded. Data research firm Flurry expects more than 1 billion apps to be downloaded on a weekly basis until some point during 2013's fourth quarter. When that quarter does arrive, it forecasts iOS and Android app downloads to exceed 2 billion per week.
On Christmas day last year, iOS app downloads increased by 87 percent, while Microsoft's Windows Platform offered 75,000 apps during 2012.