So we knew this day was coming (and FabriQate has also played its part in getting Apple there!).

On 24th May 2011, Apple approved its 500,000th app. The number itself is startling. It’s also indicative of just how far behind some of Apple’s competitors really are. For example, Google, Apple’s top competitor on apps, announced at this month’s Google I/O conference it had reached 200,000 Android apps. And Nokia’s Ovi Store is the only other app market to have cracked 50,000.
Although the number of active iTunes App Store applications is currently around 400,000 due to removals and replacements, reaching half a million apps is a milestone Apple, its developers and fans, will want to celebrate.

Our friends over at Chomp,  148apps and Chillingo have put together a fantastic new infographic memorializes this moment, showing the app ecosystem breakdown today, its future growth projections and more.

- It would cost $891,982.24 and over 7 terabytes to get all available applications.

- Approximately 36% of all apps are free and paid apps have an average price of $3.64

- Angry Birds released by Chillingo and developed by Rovio has held the number 1 paid spot more than any other app at 275 days total.

- It also includes more practical data, like the average price for a paid app ($3.64), number of iOS developers (85,569) and percentage of free apps (37%).

AppStore hits 500,000 apps