While the Apple App Store is four times more profitable than Google Play, Android's revenue for apps has risen by 311 percent since January and 17.9 percent during the last month.
Comparatively, Apple's app revenue has increased by 12.9 percent this year, but decreased by 0.7 percent in the last month. iOS, however, boasts 10 percent more volume of global free apps downloaded when compared to Android.
That said, Google Play's growth stands at 48 percent during the last five months, while Apple settled for a 3.3 percent growth rate in the free app market.
"The gap between global revenue on iOS and Google Play is still there," said Bertrand Schmitt, App Annie CEO. "But the gap is shrinking every month, creating more opportunities for publishers to generate significant revenue growth in several countries on Google Play."
"Although, in the most recent month, growth has slowed considerably, and the question remains, can Google Play keep growing at a lightning pace?" the report added.
Since its inception, the Google Play store has, as of September, exceeded the 25 billion downloads millstone. Last month saw Google Play matching the same amount of iOS apps with 700,000 applications available for download.