This Chart Shows How Facebook And Google Are Dominating The App Market

Unless you have been living under a rock over the past few years, it's a truth universally known that consumers love their smartphones and social media platforms.

In fact, smartphone apps represent around 50 percent of all the time spent with digital media content, according to Axios, which cited the comScore's Mobile apps report.

It shouldn't come as a surprise that just two companies own the vast majority of traffic — 87 percent to be precise, Axios noted.

The first is Facebook Inc FB, which owns various apps with literally hundreds of millions of users — if not billions.

The other company is Alphabet Inc GOOG GOOGL, the parent company of YouTube.

Interestingly, 46 percent of all smartphone users have the Facebook app on their home screen, and users aged 18 to 24 are more likely to name YouTube as their favorite app over Facebook.

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