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Hans India
28-04-2025
- Business
- Hans India
Apple App Store Drives Rs. 44,447 Crore Boost to Indian Economy in 2024; Tim Cook Calls it a 'Miracle'
According to a newly published report, Apple's App Store powered a remarkable ₹44,447 crore (approximately $5.31 billion) in developer billings and sales in India during 2024. Impressively, about 94 percent of this commerce went directly to developers and businesses, bypassing Apple's commission structure. The findings, compiled by IIM Ahmedabad professor Viswanath Pingali, showcase how the App Store has become a significant growth engine for Indian developers. It highlights their rising earnings and their success in reaching global audiences and fostering entrepreneurship across the country. Apple CEO Tim Cook praised the Indian app ecosystem, describing its success as miraculous. 'The App Store has been an economic miracle for developers in India and worldwide, and we're thrilled to support their work,' Cook said. 'This study underlines the power of India's incredibly vibrant app economy. And we're committed to keep investing in the success of developers of all sizes.' The earnings breakdown in 2024 reveals that Indian developers made ₹38,906 crore (roughly $4.65 billion) from selling physical goods and services. According to the study, in-app advertising generated ₹3,014 crore (about $352.9 million), while the sale of digital goods and services brought in ₹2,527 crore (around $302 million). A particularly noteworthy trend is the increasing global footprint of Indian developers. Nearly 80 percent of their total earnings came from users outside India. Apps developed in India saw over 755 million downloads worldwide in 2024 — twice as many as five years ago — with many even climbing into the top 100 charts across 70 different international storefronts. Back home, Indian users have tripled their app downloads over the past five years, while consumer spending on apps has surged more than fivefold. Indian developers have been pivotal in creating top apps across quick commerce, gig economy, food delivery, travel, gaming, and entertainment sectors. Smaller developers are also witnessing tremendous growth. Between 2021 and 2024, their earnings soared by 74 percent, thanks largely to initiatives like Apple's App Store Small Business Program, which reduces commission fees for small developers, giving them more room to grow and succeed. The report also touches on Apple's efforts to maintain high standards of security and privacy across its App Store. Between 2020 and 2023, Apple reportedly blocked over $7 billion worth of potentially fraudulent transactions, with $1.8 billion being prevented in 2023 alone. During this period, more than 1.7 million app submissions were rejected for not meeting Apple's strict privacy, security, and quality guidelines. However, these positive developments come at a time when Apple is facing increased regulatory pressure, particularly in the European Union. The EU recently fined Apple €500 million (approximately $540 million) for allegedly restricting developers from directing users to alternative payment methods outside of the App Store. The European Commission contends that this practice hampers competition and violates the Digital Markets Act (DMA), which is designed to ensure fair digital market practices. Despite these regulatory challenges, the recent findings underscore how pivotal the App Store remains for developers, particularly in emerging markets like India, where opportunities for innovation and growth continue to expand rapidly.
India Today
28-04-2025
- Business
- India Today
Apple App Store powers Rs 44,447 Cr boost to India economy in 2024, Tim Cook calls it a miracle for developers
Apple's App Store facilitated a cumulative Rs 44,447 crores ($5.31 billion approximately) in developer billings and sales in 2024, according to a new report. About 94 percent of this commerce is said to have gone directly to developers and businesses, without any commission paid to findings - published today - are part of an exhaustive research paper by IIM Ahmedabad professor Viswanath Pingali, and highlight how the App Store is helping developers in India not only grow but also reach a global audience, fostering entrepreneurship and success. Apple CEO Tim Cook praised the country's incredibly vibrant app economy while underscoring the impact the App Store has had on bolstering the businesses of not just big-ticket but smaller developers, likening it to a App Store has been an economic miracle for developers in India and all around the world, and we're thrilled to support their work,' Cook said. 'This study underlines the power of India's incredibly vibrant app economy. And we're committed to keep investing in the success of developers of all sizes.' In 2024, Indian developers earned Rs 38,906 crores (about $4.65 billion) from selling physical goods and services, Rs 3,014 crores (about $352.9 million) from in-app advertising, and Rs 2,527 crores (about $302 million) from digital goods and services through the App Store, per the the global appeal of India's app developers is seemingly stronger than ever. Close to 80 percent of their earnings in 2024 came from users outside India. Apps built by Indian developers were downloaded over 755 million times worldwide, that is twice as many downloads compared to five years ago. Many of these apps even made it to the top 100 charts in 70 storefronts outside India. Downloads from Indian users, meanwhile, have tripled over the past five years, and earnings from Indian consumers have grown more than fivefold. Indian developers have also created some of the most popular apps catering to the quick commerce and gig economy sectors, even as sectors like food delivery, travel, gaming, and entertainment are fuelling app developers, in particular, are seeing big wins, recording a 74 percent jump in earnings between 2021 and 2024. The growth is attributed to initiatives like Apple's App Store Small Business Program, which offers reduced commission rates. The report gives a sense of the App Store's focus on user and developer security as well. From 2020 to 2023, Apple prevented over $7 billion worth of potentially fraudulent transactions, including $1.8 billion in 2023 alone. Over 1.7 million app submissions were rejected during this period for failing to meet privacy, security, and quality standards. The findings come at a time when Apple is grappling with significant scrutiny - and even regulatory actions - over some of its existing App Store policies, particularly within the European Union (EU). Recently, the EU imposed a 500 million fine on the Cupertino-based tech company for allegedly restricting developers from directing users to alternative payment options outside the App Store. This limits competition and consumer choice, violating the Digital Markets Act (DMA), the EU has contended.
Time of India
28-04-2025
- Business
- Time of India
India's App Store ecosystem powers Rs 44,447 crores in developer sales, driving global growth
A new study conducted by Professor Viswanath Pingali from IIM Ahmedabad reveals that the App Store ecosystem in India generated Rs 44,447 crores ($5.31 billion) in developer billings and sales in 2024, with more than 94 percent of earnings accruing solely to developers. Apple published the study, highlighting the vast business opportunities and global reach provided by the App Store. App Store ecosystem in India: Key findings Indian developers' global earnings have tripled over the past five years. In 2024, developers earned ₹38,906 crores ($4.65 billion) from physical goods and services, ₹3,014 crores ($352.9 million) from in-app advertising, and ₹2,527 crores ($302 million) from digital goods and services. 80 percent of India-based developers' earnings came from users outside the country, demonstrating their global impact. What Apple CEO Tim Cook has to say Apple CEO Tim Cook celebrated the App Store's role as an economic engine, describing it as a platform enabling developers to enrich lives through their innovative apps. "The App Store has been an economic miracle for developers in India and all around the world, and we're thrilled to support their work,' said Tim Cook, Apple's CEO. 'This study underlines the power of India's incredibly vibrant app economy. And we're committed to keep investing in the success of developers of all sizes as they build apps that make an important impact and enrich people's lives.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo Developer success stories Indian app creators have thrived on the App Store, with increased downloads and earnings from domestic and international audiences. Developers have built apps across categories like gaming, health, lifestyle, and quick commerce. Initiatives like the App Store Small Business Program and resources at the Apple Developer Center in Bengaluru further empower developers to create impactful apps. Small developers, in particular, have been supported by Apple's ecosystem. The total App Store earnings of small developers increased by 74 percent between 2021 and 2024. Initiatives like the App Store Small Business Program, designed to support small developers, provide a reduced commission rate for these developers. The study underscores Apple's commitment to fostering innovation and supporting developers in India's vibrant and growing app economy.
Time of India
28-04-2025
- Business
- Time of India
Apple App Store in India facilitated $5.3 billion in developer billings, sales in 2024
Nearly Rs 44,447 crore ($5.31 billion) went through the Apple App Store ecosystem in India in developer billings and sales in 2024, as per a study by Apple , a copy of which has been seen by ET. The study also found that more than 94% of that commerce accrued solely to developers and businesses of all sizes, without any commission paid to Apple. Further, over the past five years, the global earnings of India-based developers has tripled. This is the first instance where Apple has shared these numbers publicly. "The App Store has been an economic miracle for developers in India and all around the world, and we're thrilled to support their work," Apple CEO Tim Cook said in a statement. "This study underlines the power of India's incredibly vibrant app economy. And we're committed to keep investing in the success of developers of all sizes as they build apps that make an important impact and enrich people's lives." In 2024 alone, App Store developers generated Rs 38,906 crore ($4.65 billion) in total billings and sales from the sale of physical goods and services, Rs 3,014 crore ($352.9 million) from in-app advertising and Rs 2,527 crore ($302 million) from digital goods and services. In 2024, nearly 80% of India-based developers' App Store earnings came from users outside of the country, and 87% of developers were active on multiple storefronts. Moreover, throughout the year, users from across the world downloaded apps from developers in India more than 755 million times through the App Store - twice as many as five years ago. The study, which was conducted by Viswanath Pingali from the Indian Institute of Management Ahmedabad, identifies the key drivers shaping the App Store ecosystem in India, including increased app usage in sectors such as food delivery, travel, gaming and entertainment. It also found that many apps from India-based developers also appeared on the most-downloaded app charts in storefronts outside of India, and apps from India-based developers were in the top 100 most-downloaded apps in 70 storefronts outside of India. The study further found that the total App Store earnings of small developers increased 74% between 2021 and 2024. Initiatives like the App Store Small Business Program, designed to support small developers, provide a reduced commission rate to these developers.
Time of India
28-04-2025
- Business
- Time of India
Apple App Store in India facilitated $5.3 billion in developer billings, sales in 2024
The study also found that more than 94% of that commerce accrued solely to developers and businesses of all sizes, without any commission paid to Apple. Further, over the past five years, the global earnings of India-based developers has tripled. This is the first instance where Apple has shared these numbers publicly. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Nearly Rs 44,447 crore ($5.31 billion) went through the Apple App Store ecosystem in India in developer billings and sales in 2024, as per a study by Apple, a copy of which has been seen by study also found that more than 94% of that commerce accrued solely to developers and businesses of all sizes, without any commission paid to Apple. Further, over the past five years, the global earnings of India-based developers has tripled. This is the first instance where Apple has shared these numbers publicly."The App Store has been an economic miracle for developers in India and all around the world, and we're thrilled to support their work," Apple CEO Tim Cook said in a statement."This study underlines the power of India's incredibly vibrant app economy. And we're committed to keep investing in the success of developers of all sizes as they build apps that make an important impact and enrich people's lives."In 2024 alone, App Store developers generated Rs 38,906 crore ($4.65 billion) in total billings and sales from the sale of physical goods and services, Rs 3,014 crore ($352.9 million) from in-app advertising and Rs 2,527 crore ($302 million) from digital goods and 2024, nearly 80% of India-based developers' App Store earnings came from users outside of the country, and 87% of developers were active on multiple storefronts. Moreover, throughout the year, users from across the world downloaded apps from developers in India more than 755 million times through the App Store - twice as many as five years ago. The study, which was conducted by Viswanath Pingali from the Indian Institute of Management Ahmedabad, identifies the key drivers shaping the App Store ecosystem in India, including increased app usage in sectors such as food delivery, travel, gaming and also found that many apps from India-based developers also appeared on the most-downloaded app charts in storefronts outside of India, and apps from India-based developers were in the top 100 most-downloaded apps in 70 storefronts outside of India. The study further found that the total App Store earnings of small developers increased 74% between 2021 and 2024. Initiatives like the App Store Small Business Program, designed to support small developers, provide a reduced commission rate to these developers.
