In the past decade, the whole world has witnessed how mobile phones and smart devices have revolutionized the way people live and think. As the iPhone, the forerunner of this evolution turned 10 in 2017, Apple’s App Store and competing platform Android Market are celebrating their tenth anniversaries in 2018.

The decade-long development has brought the app economy to maturity in a number of ways and the sheer number of apps is perhaps the most impressive aspect. App analytics firm App Annie pointed out in its latest report that the iOS App Store and Google Play had more than 2 million and 3.5 million apps available respectively as of the end of October 2017. Also, the growth shows no sign of slowing with iOS App Store and Google Play seeing 50,000 and 150,000 new apps in October this year. Maturation also takes the form of longer user engagement time, larger in-app consumption and wider industry coverage, the report pointed out.

The continued evolution of markets across the globe has led to the continued growth of app monetization. App Annie forecasts that worldwide consumer spending across all mobile app stores will grow approximately 30% year on year to exceed $110 billion in 2018.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.