For years, the iOS App Store has made the bulk of its revenue from the United States, but a new report suggests that that’s no longer the case. The report from app intelligence company App Annie reveals that China’s iOS App Store spending has overtaken the United States. The People’s Republic now happens to be the largest market in the world for the App Store in terms of revenue.
The United States has been the largest spender on the iOS App Store since 2010, the report mentions, but it also points out that Chinese consumers are now spending five times the amount that they were spending on the App Store just two years ago.
China spent more than $1.7 billion on the App Store in the third quarter alone, leading the United States by 15 percent. Growth prospects remain high for the People’s Republic, the report predicts that it’s going to drive the largest absolute revenue growth for any App Store market by 2020.
Games are cited as a big reason for this rapid growth as they bring in more than 75 percent of the revenue for the App Store despite the fact that apps other than games actually account for 75 percent of all apps in the iOS App Store.
Filed in . Read more about App Store and Apps. Source: appannie