Today marks six years since Apple opened its App Store. Since then, total global app sales have grown to $30 billion and show no signs of stopping. Analysts expect total sales to reach the $100 billion range by 2020.
Research measurement firm, Nielsen reports U.S. Android and iPhone users spent 65 percent more time with apps at the end of 2013 compared with 2011.
When comparing Apple and Android app accomplishments, Apple seems to be the victor.
"The thing that Apple's really done well is make apps that can make money for developers. You look at the average app in the app store and it could make anywhere from $100 to $500 per month," said Dan Costa, editor-in-chief at PCMag.com. "In the Android store, in Google Play, the apps just don't make as much money and that's because of the how their monetization strategy is structured," Costa added.
What's the group taking the sector to higher heights? Game makers. Almost 85 percent of all profit making apps are games, according to Costa.
"They all tend to be casual games. They wind up coming up with a model that really kind of works and then you see a slew of imitators hit the market and those could make a lot of money as well," said Costa.
"Candy Crush," "Clash of Clans" and "Threes" puzzle app, make the top 10 list of popular games.
Costa said the quintessential winner in the app economy is Uber, the venture funded start-up and transportation network company.
"Without the app, that service doesn't exist and yet it doesn't just exist in this digital space, it actually disrupts real markets and real services and that's where it crosses over and becomes a serious money maker so apps that follow that model are the ones that are the most promising, Costa said.
—By Christina Medici Scolaro