Apple is set to see a 70 percent uplift in revenue from its App Store this year as it extends into new areas such as mapping and payments.

That’s according to IHS iSuppli, which forecasts that global App Store revenue will increase to US$4.9 billion in 2012, up from US$2.9 billion in 2011.

If accurate, the figures will mean that nearly half of the revenue generated by the App Store in its five-year history will be earned this year alone. It will also see Apple command about a 65 percent share of the global apps store market in 2012.

Growth will be driven by new features in the recently released iOS6 such as Apple Maps and Passport, the firm says.  

"Until now, Apple’s iOS ecosystem has focused on virtual services, such as apps, digital music and movies,” said Ian Fogg, senior principal analyst for mobile at IHS. “However, with iOS6, Apple is moving into real-world location and financial-transaction features.”

“The new Apple Maps and Passbook apps and accompanying location platform for app developers is the keystone for this real-world expansion, and will help support the accelerated growth of the Apple App Store market in 2012,” he adds.

Apple’s new mapping app replaces Google Maps in iOS6 – and has been widely criticised for some shortcomings in its initial version. However, IHS Suppli says Apple Maps has “many enticing features” – notably turn-by-turn navigation – which could see it succeed longer term.

Unlike in the rival Android ecoystem, Apple has a good track record of persuading its customers to upgrade to the latest OS version as early as possible – and is expected to do so again with iOS6.  

 “We expect adoption of iOS6 to be equally swift and pervasive,” said Fogg. ”This means that Apple's app developers have a much greater potential target market for Apps that use iOS6's headline new features.”