Apple’s Appstore completes 5 years of journey with more than USD 10 billion of payouts

With global app revenue market crossing $15 billion, the Apple app store for iOS completes its 5 years this week, since its introduction in July 10, 2008 leading much of the revolution in mobile computing. The store now has more than 900,000 apps with around 50 billion downloads.

Also, recently in the World Wide Developers Conference, Apple confirmed the news of paying $10 billion till date to its mobile app developers since beginning which is a much higher amount compared to any other appstore.

To celebrate this success, Apple is giving away for free few games such as Where’s My Water, Tiny Wings, Superbrothers: Sword & Sorcery, Infinity Blade II and Badland and  iOS apps like Barefoot World Atlas, Day One (Journal/Diary), How To Cook Everything, Over (a photo editing app) and Traktor DJ for iPhone (an audio-mixing app), free for a limited time.

According to the analysts, Apple’s App Store fundamentally restructured the apps ecosystem and create an altogether new market. It changed the process of developing and launching apps, and how consumers consumed content, services and softwares.

It was the vision of Steve Jobs that foresee the nature of opportunity that appstore might create for the world. Though he was earlier freaky as developers might tamper iOS platform, but once the store was launched there was no turning back.

The popularity of iPhone created a platform that encouraged app developers to put in their resources to develop apps. It not only led to the creation of useful application, but also it made its impact in almost every industry to make mobile apps as a part of their process, be it government, media, advertising or business.

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The trend of app consumption also cultivated the concept of  ‘Bring Your Own Device’ (BYOD), as now employees wanted to carry their iPhones to work and use it for various official reasons for better mobility and freedom.  “Without it (apps), the devices would just be expensive toys. It’s the apps that created such overwhelming demand by end users.”, once said Jack, principal analyst at J. Gold Associates.

Now with 5 years of completion and rise of several other app stores it would be really early to comment about what lies in bag for apple in the future. However, one thing we can be certain of, is that the global mobile scenario is transforming at a very fast pace.

It would be worth watching, with competitors such as Google and Amazon that whether Apple will be able to continue with its success in the coming five years or is it just the tip of the iceberg…