Looks like the App Store is a bigger success than some could have imagined. AdMob, an advertising startup estimates that $200 million in apps are downloaded every month multiply that by a year and you get a value of over $2.4 billion.

The up and coming app store that can even come close to the Apple App store is the Android market and it’s not even a competition, at least not right now. The Android market is making about $60 million per year. Looks like Apple brings in three times more money in one month than the Android market brings in for Google. Here’s the twist to the App store success, it’s not the iPhone that’s leading the charge in downloaded apps and revenue, instead it’s the iPod Touch that’s doing most of the damage.

iPod Touch owners average about 18 app downloads per month, compared to 10 downloads per month for Android and iPhone users. iPod Touch users also download twice as many free and lite apps. What’s so significant about that? Numbers show that users who download “lite” apps, end up paying for the full version down the road.

The App Store success isn’t slowing down either. Apple gets a consistent stream of app downloads every month from iPod Touch and iPhone users. Half of iPhone users and over 40% of Touch users download at least one app per month. That’s a significant number compared to the 19% of Android users who download at least one app per month.

Will Android eventually catch up to the Apple App Store? Probably not, unless Google Android can take a huge chunk of Apple’s smartphone usage share. Apple’s iPhone currently has over a 60% usage rate in the United States.

(Via AdMob)