Apple App Store Had Record Sales In November

Questions may be arising about demand for Apple’s iPhone 7 and its Apple Watch Series 2, but when it comes to the Apple App Store, the consumer electronics giant is killing it.

That’s according to Philip Schiller, vice president of worldwide marketing at Apple, who took to Twitter to say Apple set a new record for App Store revenue in November. Schiller said in the tweet that November saw the highest monthly sales ever for the App Store.

The record sales growth in the Apple App Store shouldn’t come as too much of a surprise since developers do a brisk business in creating and selling apps for Apple devices. This past summer, Sensor Tower, an app intelligence firm, said the number of mobile apps available for purchase or download through the App Store is expected to double in size and surpass 5 million by 2020. According to Sensor Tower, the App Store is expected to have about 2.93 million apps by the end of 2016, 3.6 million in 2017, 4.18 million in 2018, 4.67 million in 2019 and 5.06 million by 2020. When Apple debuted the App Store in 2008, it had about 5,000 by the end of the first year, according to Sensor Tower. By the end of 2015, that figure had swelled to about 1.75 million, and today, there are more than 2 million apps available for download through the App Store.

“According to our projections, the App Store will add an additional 2.13 million apps over the next four years to contain 5.06 million active apps by the end of 2020 — doubling its size as of this report and growing by 73 percent over where we estimate it will be at the end of this year,” according to Sensor Tower. Games are largely fueling the crazy growth the App Store is experiencing.



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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