According to the latest report from Applied Market Research Inc. App Annie, global applications downloads, and revenue hit a record high in the third quarter of 2017. Google and Apple earned a lot of revenue because of this.

Google Q3 Revenue

The report shows that Apple App Store and Google Play Store, the two major application saw 26 billion global downloads in the third quarter of 2017. This is an increase of 8% over the same period last year. In addition, the application revenue also reached a record $ 17 billion.

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Among them, Google Play download grew the most, thanks to the strong promotion in emerging markets. Overall, Google Play Store global downloads were higher than iOS, an increase of 10% over last year. One of the biggest contributions comes from India. The country’s downloads have doubled from the third quarter of 2016 to the third quarter of 2017. Other Southeast Asian countries, especially Vietnam and Indonesia, also contributed to the growth of Google Play. Both countries have achieved double-digit growth, while Indonesia ranked No. 4 and Vietnam ranked seventh.

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In addition, iOS downloads grew 8% from the previous quarter – the highest sequential growth record since 2016. This is mainly due to China, where the market share is responsible for most of the growth rate, followed by the United States and Saudi Arabia. App Annie report also pointed out that the third quarter App Store and Google Play application revenue total is close to 17 billion US dollars, an increase of 28%.

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iOS application revenue growth is in a leading position. In the third quarter of 2017, spending on the App Store was almost twice that of Google Play. But thanks to more than 25% growth over the same period, the consumer spending on the two application stores is the highest ever.

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China has once again become an important factor. It is the largest consumer spending market. The absolute expenditure was also maintained because of the highest year on year growth. South Korea’s current consumer spending ranked fourth. Entertainment applications, especially streaming media applications, also performed strongly in the third quarter, accounting for a lot of spending on apps around the world. Entertains apps accounted for 30% downloads in App Store and 45% in Google Play Store.

Applications continue to occupy most of the times and energy of consumers. The time spent on apps by consumers went up by 40%, reaching nearly 325 billion hours. (These data is only from the Android phone and does not contain China, so it is not strong, but it can indeed reflect the growth trend.)

App Annie currently expects the global application downloads to be close to 240 billion by 2021. The applications will cost more than 100 billion US dollars.

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