Apple’s App Store Economy in Pictures

We’ve seen smartphones for years but it seems that only recently is the software piece of the equation fitting into the puzzle. Useful mobile apps are surely helping drive sales of smartphones, and in turn, more smartphone sales deliver larger captive audiences to mobile app developers. While each major platform has its own store — Nokia’s N900 gained the Ovi store just today — the current granddaddy of them all is Apple’s iTunes (s aapl) ecosystem. I’m not suggesting it’s the best, but it arguably has the most impact on consumers and developers at the moment.

How much impact are we talking about? This awesome info-graphic at GigaOm sums it up quite nicely with numbers ranging from the average application approval time, the average app cost and a breakdown between Apple and developers of the $550 million in monthly revenues. With numbers like these, it’s no wonder everyone is trying to get in on the app economy. And what’s really mind-blowing is that this specific economy didn’t even exist for Apple until July of 2008!