The Apple iPhone apps were making $3.34 million every day in the month of January. Researchers from the Analysts CCS Insight and Distimo conducted a survey and found that Apple i-phone apps boomed in the month of January.

Researchers found that Apple iPhone apps remained the market leader in terms of downloads, catalogue size and revenue compared to other apps.

Google Play, which was formerly known as Android Market, saw a 31 per cent rise in daily revenue in January 2012, to $679,000 across smart phones and tablets for the top 200 highest-grossing apps. Other platforms are racing to secure the third position, with Amazon and Microsoft recording the biggest growth in catalogue size.

"The strong growth in downloads and revenue for Apple and Android comes at a time when consumers typically rein back their spending after Christmas," said Paolo Pescatore, Director of Applications and Content at CCS Insight.

The revenue generated by applications that feature in-apps increased in February to 73 per cent for the top 200 highest-grossing Android and iPad applications and a staggering 79 per cent for the top 200 iPhone apps. However, it is not all good news. Preliminary figures for February show a 27 per cent drop in iPad downloads as people waited for the new iPad. This resulted in a $250,000 decrease for the top 200 highest-grossing applications compared with January's daily revenue figure.

"We believe this is no more than a short-term blip, but it clearly shows that many buyers of the new iPad already own an original iPad or an iPad2. It's a real demonstration of the loyalty of Apple customers," said Pescatore.