The app industry has seen tremendous growth in the past year, with consumers downloading a record 143.6 billion apps and spending $133 billion across both the iOS and Google Play stores combined. According to multiple year-end reports, this growth is due to the increasing popularity of AI-powered art apps, which have topped the charts in terms of downloads and revenue. Instagram has also added a text-only Notes feature to its app, allowing users to share their thoughts and ideas in an easier and more accessible way.

Alternative app stores have also emerged in the European Union, as the European Commission is pushing for more competition in the app market. This could mean more choices for users and potentially lower prices, as well as better app discovery and development opportunities for developers. Apple has also taken steps to improve the App Store experience, introducing a new App Store Small Business Program that offers a reduced commission rate of 15% for developers earning less than $1 million per year.

Mergers and acquisitions have also been a major part of the app economy in the past year. In 2021, Microsoft acquired the popular game streaming platform Discord for $10 billion, while Apple acquired the AI-powered music streaming service Shazam for $400 million. These deals have opened up new opportunities for both companies, as well as for developers and users alike.

AI Art Apps Top the Charts

AI art apps have been gaining in popularity over the past year, with some of the most popular ones topping the charts. These apps allow users to create art using AI technology, allowing them to explore their creativity and come up with unique pieces of art. Some of the most popular AI art apps include Prisma, Adobe Fresco, and Adobe Photoshop Express. These apps are becoming increasingly popular due to their user-friendly interfaces and ability to create unique pieces of art.

Instagram Adds Text-Only Notes

Instagram recently added a new feature to its platform that allows users to create text-only notes. This feature allows users to create and share their thoughts and ideas without the need for a photo or video. This feature is a great way for users to express themselves without having to worry about the visuals of their posts.

Alternative App Stores in the EU

In recent months, there has been a growing trend of alternative app stores emerging in the EU. These stores offer a range of apps that are not available on the official app stores, allowing users to access a wider range of content. These alternative app stores are becoming increasingly popular due to their ability to offer a wider range of content and ease of use.

These developments are indicative of the continued growth of the app economy and demonstrate the potential of the industry in the years to come.