Business Model Canvas Examples forms: { Top Technology 4. Through proactive strategies in marketing and operations management, Apple can capitalize on opportunities presented by the ever-changing digital landscape while mitigating risks to ensure continued success in the years ahead. The service includes curated internet radio such as Beats 1 which is driven by the respected Zane Lowe and his hand picked team of renowned DJs. In 2019, Apple is still the major premium smartphone and tablet company, with very high average selling prices for its products. As a result of innovations such . Google has a similar devices, but with greater capabilities due to their Assistants connection to a wider range of devices. In addition, Apple should improve and strengthen its R&D capabilities and introduce more innovative products to the market. Background of The Apple Apple is famous for its iPhone, iPad and Macbook. Apple could improve its brand reputation and appeal to environmentally-conscious consumers by focusing on sustainability initiatives like renewable energy and recycling programs. Soundcharts compiles all these Apple Music statistics, creating a comprehensive summary of all current and historical charts positions, updated in real-time. color: rgb(255, 255, 255); I bet they swamp the other streaming platforms. Available at: Apple, Inc. (2012). Terms and Conditions According to the Identity Theft Resource Center, instances of personal information theft are growing. #row-1695831028 > .col > .col-inner { padding: 30px 0px 0px 0px; event : evt, 2:47 PM PST March 9, 2023. Three month trial of Apple music will entice customers to test the service before making a decision to pay. [21] Forbes, which has its own list of the 50 most innovative companies in the world, doesnt even list Apple in it.[22]. 1.1 The Introduction of Apple Available at: 34. padding-top: 30px; } Most businesses try to diversify their revenue sources for a few reasons. SWOT Analysis of Apple 3. On demand streaming: All you can eat service including Apple musics extensive 30 million song library (given you pay the flat fee of $9.99 a month). Today it is one of the most valuable companies which consistently surprise and delight its customers. Many of Apples competitors have tried and still try to imitate the success of Apples product ecosystem, but fail due to not having strong capabilities in designing, manufacturing and developing both hardware and software, applications and services. Apple is one of the best-known brands in the world. #image_105254588 { . A flagship device that is capable of supporting AR; Apple, Inc. (2019). Why is this such a major weakness for the company? Zane Lowes involvement as well as Drake, Disclosure, Pharrell Williams, Dr Dre are all among the big names helping the company such as streaming their music exclusively via Apple music. Another threat facing Apple is recessionary economic downturns that could significantly reduce demand for their products amongst consumers who may no longer be able to afford them due to job losses or pay cuts experienced during these times. The company is always looking for ways to improve its products and create new ones that meet the needs of its customers. This is where a strong U.S. dollar, or in other words, the currently rising U.S. dollar exchange rate damages companys financial position. Intense competition: competition from other streaming services such as from Spotify could threaten Apple musics profit. Apple SWOT Analysis 2023. #col-1823339708 > .col-inner { Why iPhone X Isnt The Answer To Apples China Problem. This gives them a much quicker path from the concept stage to the finished product compared to almost anyone else operating outside Silicon Valley. In order to increase their market share, most of the smaller smartphone vendors are actually offering the same or near the same quality hardware in their smartphones as Apple for much lower prices.[33]. At the beginning, most smartphone manufacturers were competing with each other based on hardware, design, software and additional services. This article will focus on Apple SWOT analysis, a popular and successful company. Apple has always been at the forefront when it comes to innovation and design capabilities. Apple has now become a household name; there will be hardly any house that doesn't have an Apple device. Strengths in Apple SWOT Analysis 1. Available at: Wollerton, M. at Cnet (2019). By not providing this type of access, Apple seeks to ensure that its customers remain secure and that their sensitive data is safeguarded against prying eyes. The SWOT or strategic analysis of Apple showed that the major key strengths of Apple Inc. that comes from the quality and uniqueness of the Apple iPhone. #col-803787974 > .col-inner { I have chosen Apple for this analysis. Nonetheless, the companys innovation has slowed down and the company hasnt introduced any disruptive products or services since the iPad. --divider-top-width: 100%; Types of Business Models To protect customers from malicious actors, Apple has refused to provide such a backdoor mechanism; however, the mere possibility of one jeopardizes consumer trust in iPhone security if ever exploited by bad actors. } This means that customers must purchase Apple products in order for them to be used together without any modifications or additional software purchases. Brand Keys Customer Loyalty Engagement Index (Apples market leader positions 2014-2017). 2017 Winning Brands Brand Keys Customer Loyalty Engagement Index. Recently, the company has focused its efforts to strengthening its own in-house advertising and marketing teams by attracting a lot of new talented people to the internal agency. --divider-top-width: 100%; Global Apple iPhone sales from 3rd quarter 2007 to 4th quarter 2018 (in million units). Apple Inc.s ability to design and develop its own hardware, software, applications and services allows the company to introduce unique, innovative and easy-to-use products and solutions for its customers. } Research finds Apple music could not convince the record labels to charge any less. Smartphones and tablets are becoming a commodity, which could impact the companys gross margins. Smartphone commoditization will put pressure on margins, but there are some ways Apple could differentiate its phones from rivals offerings and keep the current margins. For example, consumer tastes may change or there could be a component shortage for a specific product. Figure 5. Apple needs to focus more on. Except for Google and Samsung Electronics, few other companies could seriously attempt to challenge Apples competitive advantage. Other currencies therefore have to be converted to the U.S. dollar in order for the company to be able to calculate its total revenue and transfer its profits back to the U.S. Apple generated a revenue of $365 billion in 2020 and 52% of it was from iPhones. Out of all wearable devices, the most prominent will be earwear and smartwatches, accounting for about 55.9% and 22.3% of the market respectively. On top of this, competition from other smartphone manufacturers is intensifying, and consumers are holding onto their phones for longer, further denting growth potential. #col-1977637032 > .col-inner { [1] In 2019, the company introduced three new iPhones: iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max. [29] IDC forecasts that the market for wearables will grow on average by 22.4% until 2023, reaching 489.1 million units. Apple is known for pushing the boundaries and creating innovative products and services that often revolutionize industries. Available at: Microsoft Corporation (2019). This has the potential to threaten the companys reputation and incur losses for the company and its customers. Want Receive new Business Model Analysis direct on your inbox? @media (min-width:550px) { } As of 2018, Apple had a market capitalization worth over $1 trillion, making it the first American technology company to ever reach such heights. Samsung Electronics, Apples strongest competitor, lacks a comprehensive OS and has very few apps and services to offer for its customers. The company has already released successful Apple Watch devices. The software comes pre-installed on all Apple music devices whilst also available as a free download. It has introduced many breakthrough products to the market, such as the iPod, iPhone and iPad. Subscribe now and don't miss any new posts! iOS (Apples proprietary mobile operating system) is the only competitor to Googles Android, which runs on nearly every other smartphone sold in the world. Figure 4. There is massive potential for both VR and AR applications across industries such as entertainment, education, and retail experiences; this has led many top brands like Apple to explore ways they can incorporate these technologies into their product lines. padding: 30px 0px 0px 0px; In 2019, Apple spent only 6.2% of its revenue on R&D or in absolute numbers US$16.217 billion, which was comparatively lower than Alphabet Inc.s US$21.419 billion, Samsung Electronics US$16.952 billion or Microsoft Corporations US$16.876 billion. Smartphone OS market share 2019. For example, technology and other patent-holding companies frequently assert their patents and seek royalties and often enter into litigation based on allegations of patent infringement or other violations of intellectual property rights. Smartphones. color: rgb(255, 255, 255); In recent years, Apple has shifted its focus toward content streaming services in response to the rapidly increasing consumer demand for video and audio streaming. Available at: Research and Markets (2018). [15]. The Worlds 50 Most Innovative Companies 2018.Available at: Forbes (2020). The end goal of R&D spending is to create a competitive advantage and grow the companys revenue. IDCs research expects the markets to be worth US$18.8 billion in 2020 and to grow by 77% annually during a five-year period. Apple iPod not only increase the company sales but also influence the people to get experience of Apple notebook and operating system. However, they also face numerous challenges that need addressing. color: rgb(255, 255, 255); By capturing only 10%-20% market share the company could potentially earn US$6 billion to US$12 billion in additional revenue with an enhanced Apple Watch device. For example, Amazon has launched Amazon Echo, a speaker that listens to your voice and executes the commands. For example, Apple could focus on increasing its presence in emerging markets like India, with a growing middle class with increasing purchasing power. These and many other factors resulted in Apples revenue dropping by US$8.264 billion or 16% in China in 2019. When considering Apples strengths, it would be remiss not to mention the companys leading technological edge. Retail Stores. Business Failures Current forecasts indicate that the U.S. dollar exchange rate may continue to increase against other currencies in 2020 as well. Still, it must continue to invest in developing new technologies if it wants to stay ahead of competitors like Google and Microsoft, who are constantly pushing boundaries with their offerings. padding-top: 20px; Apple has taken note of this trend, developing a strong focus on AI and creating its own AI platform, Siri. Apple has a favorable brand perception by consumers all over the world. From introducing groundbreaking features like facial recognition through Face ID (iPhone X) or augmented reality apps through ARKit (iPhone 8), Apple pushes boundaries by bringing state-of-the-art solutions into consumer markets faster than any other competitor can keep up. There are many large and well-positioned rivals in the industry, so a fierce competition requires constant innovation and taking advantage of the arising opportunities. Company Innovation challenges: While Apple is known for its innovative products, it has faced criticism recently for a perceived lack of innovation. A decline in the global economy or a significant shift in exchange rates could harm Apples sales and profitability. Over 305.2 million wearable devices were sold in 2019 alone, representing 71.4% market growth over 2018. . Best Global Brands 2019. The companys strengths have allowed them to maintain a solid competitive edge. height: 150px; [37] This means that Apple products will become even pricier abroad and its revenue and profits from outside the country are likely to decrease when converted to U.S. dollars. Their strong brand recognition and diverse product portfolio give them an advantage over competitors. window.mc4wp = window.mc4wp || { Good read!!! Company Description: Apple Inc. (Apple), was incorporated on January 3, 1977,as a design, manufacture and market mobile communication and media device, personal computers, and portable digital music player. IDC (2019). Firstly employing Zane Lowe, who as some would argue is the worlds foremost authority on emerging music is no doubt constant in broadcasting influential material which resonates within us all. Nonetheless, the VR market is going to be worth over US$30 billion in the future and Apple shouldnt miss this opportunity. the iPad, and Apple Music, amongst others. Apple's Strengths. Research from Markets&Markets reveals that the market for intelligent virtual assistants will be worth over US$25.63 billion by 2025. This dependence on a few products can make the company vulnerable to market fluctuations or shifts in consumer preferences. Form 10-K for the Fiscal Year Ended June 30, 2019. Augmented Reality and Virtual Reality Market by Offering, Device Type, Application, and Geography Global Forecast to 2023. According to their latest study,[8] Apples brand enjoys the most loyal customer base in the tablet market. Changing consumer preferences: Consumer preferences and trends can change quickly, impacting the demand for Apples products. [6] These campaigns resulted in two very well-known advertisements 1984 and Think Different and helped Apple to create an iconic brand image. Competition: Apple faces intense competition from other technology companies, particularly in the smartphone and computer markets. Strengths. { Sustainability initiatives: Apple has made some strides in recent years toward improving its environmental impact, but there is still more that the company could do in this area. The Company is vigorously defending infringement actions in courts in several U.S. jurisdictions, as well as internationally in various countries. [9][10][11][12] Although the company has lost the top loyalty position in these markets, it still has some of the most loyal customers in every market it operates. 2019 Winning Brands Brand Keys Customer Loyalty Engagement Index. It has a loyal customer base that continues to grow due to its innovative products, design quality, and user experience. padding-top: 15px; Sustainability made Possible through Liam 7. Entering into Area of Non-Competency 4. For example Drake shared behind-the-scene images from his performance at WWDC and other unheard songs. Sign In . The companys revenue declined by 2% or US$5.6 billion in 2019, mainly due to the 13.6% or US$22.507 billion decline in iPhone sales. Apple is finding it very hard to differentiate its iPhones through incremental hardware improvements, as are other smartphone manufacturers. [30] Wearables are getting more accurate at measuring heart rate, blood pressure, body temperature, stress levels and other health conditions. Various apps combined with wearable data can efficiently and effectively monitor and diagnose your health and help you share that data with your doctors. Apples major weakness is its reliance on one product to generate the majority of its revenue.
Apple revenue breakdown by product 2019 (% share of total revenue). #text-2760991808 { Moreover, since 2018, their annual net income has exceeded a staggering $50 billion. } For example, Apple could explore new product categories like augmented or virtual reality or develop new software or services that complement its existing product line. [23] Both markets are in their infancy and their real growth is expected in the near future. May 3, 2021 by Brandon Gaille. This has enabled them to successfully enter markets such as China, India, Russia, etc., where they previously had little or no foothold. In 2019, the U.S. dollar increased in value against other currencies for the second consecutive year. #text-2760991808 > * { In 2018 alone, Apple sold 217.72 million iPhone devices[36] which could potentially be targeted through various software exploits and bugs. Globally Iconic 3. Some critics argue that the company no longer leads the industry regarding product innovation, which could harm its brand reputation over time. Figure 3. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); About - Privacy Policy - Returns and Refund Policy, International Business Machines Corporation, https://s2.q4cdn.com/470004039/files/doc_financials/2019/ar/_10-K-2019-(As-Filed).pdf, https://www.interbrand.com/best-brands/best-global-brands/2019/ranking/, https://www.forbes.com/powerful-brands/list/, https://www.cnbc.com/2019/11/05/apples-advertising-agency-media-arts-lab-lays-off-several-employees.html, https://www.bankmycell.com/blog/smartphone-brand-loyalty-during-trade-in-2019/, https://brandkeys.com/wp-content/uploads/2019/05/2019-CLEI-Category-Winners.pdf, https://brandkeys.com/wp-content/uploads/2014/12/2014-Brand-Keys-Loyalty-Leaders-List-PR-Finalv3.pdf, https://brandkeys.com/wp-content/uploads/2015/02/Brand-Keys-CLEI-2015.pdf, https://brandkeys.com/wp-content/uploads/2016/10/2016-Loyalty-Leaders-Top-100-List.pdf, https://brandkeys.com/wp-content/uploads/2017/09/2017-CLEI-table-of-category-winnersFINALfeb1.pdf, https://images.samsung.com/is/content/samsung/p5/global/ir/docs/2018_con_quarter04_all.pdf, https://abc.xyz/investor/static/pdf/20180204_alphabet_10K.pdf, https://microsoft.gcs-web.com/static-files/7c96b326-33bc-4b84-8abb-7afd7a517ea3, https://www.canalys.com/newsroom/china%E2%80%99s-smartphone-market-falls-14-in-2018-with-just-under-400-million-units-shipped, http://files.shareholder.com/downloads/AAPL/3883149972x0xS1193125-12-444068/320193/filing.pdf, http://files.shareholder.com/downloads/AAPL/3883149972x0x789040/ED3853DA-2E3F-448D-ADB4-34816C375F5D/2014_Form_10_K_As_Filed.PDF, https://www.forbes.com/sites/ywang/2017/09/12/why-iphone-x-isnt-the-answer-to-apples-china-problem/, https://www.fastcompany.com/most-innovative-companies/2019, https://www.fastcompany.com/most-innovative-companies/2018, https://www.forbes.com/innovative-companies/, https://www.idc.com/getdoc.jsp?containerId=prUS45679219, https://www.researchandmarkets.com/research/dm5djr/augmented_reality?w=4, https://techcrunch.com/2017/01/11/the-reality-of-vrar-growth/, https://www.macworld.com/article/3446839/apple-ar-glasses-rumors.html, https://www.cnet.com/news/alexa-vs-google-assistant-vs-siri-the-state-of-voice-after-google-io-and-wwdc-2019/, https://www.businesswire.com/news/home/20190822005478/en/Global-Intelligent-Virtual-Assistant-IVA-Market-2019-2025, https://www.businesswire.com/news/home/20191216005029/en/Worldwide-Wearables-Market-Top-300-Million-Units, https://www.idc.com/getdoc.jsp?containerId=prUS45521319, https://www.globenewswire.com/news-release/2019/10/31/1938647/0/en/Wearable-Devices-Market-worth-62-82-billion-by-2025-Exclusive-Report-by-Meticulous-Research.html, https://www.pwc.com/us/en/industry/entertainment-media/assets/pwc-cis-wearables.pdf, https://www.productchart.com/smartphones/, https://www.idc.com/promo/smartphone-market-share/os, https://www.idtheftcenter.org/2018-data-breaches, https://www.statista.com/statistics/263401/global-apple-iphone-sales-since-3rd-quarter-2007/, https://www.kitco.com/news/2019-12-31/U-S-Dollar-can-still-roar-in-2020-even-as-it-ends-2019-with-a-whimper.html, Computer hardware (iMac, iMac Pro, MacBook, MacBook Pro, MacBook Air), Worldwide 509 retail stores in 25 countries (271 stores in the U.S. 238 stores in other 24 countries) and online stores in over 100 countries, 1. padding-bottom: 20px; As one of the most innovative tech giants of the modern era, along with Amazon and Google/Alphabet Inc., Apple continually sets new trends when it comes to technology development. The company should change its strategy in China or the companys market share in it will continue to decline. What does Apple do | How does Apple make money | Business Model. ET Apple was the first company to launch its own voice-activated virtual assistant (called Siri) back in 2011. First, according to Tim Merel from TechCrunch[25], the AR market needs to overcome 5 obstacles to become a mass market: With an introduction of an iPhone 11 and the companys recent acquisitions of PrimeSense, Metaio and RealFace companies, who all work on various 3D technologies and face recognition, the company is now capable to overcome all 5 obstacles. It has a strong focus on innovation, making it a leader in new product development and consumer experience. As for a leading company in technology domain, Apple enjoys a great part of market share, and its users are all over the world. Available at: Apple, Inc. (2014). Bundles The Wearable Life 2.0. At the moment, software is the major differentiator between Apples iPhones and its rivals devices. Their competitor Tidal offers a high-bitrate option (1411kpbs lossless FLAC) at a pricer subscription. #col-803787974 > .col-inner { It was the first company to have a market cap of over $2 trillion, and has shaped our world. In 2019, the companys net sales through its direct (sales in companys 508 stores in 25 countries and sale through online stores) and indirect distribution (sales made by third-party sellers) channels accounted for 31% and 69%, respectively.[1]. --divider-width: 100%; callback: cb The impressive speed at which they do this can largely be attributed to the companys recent move into developing custom chipsets specifically designed for their devices known colloquially as system on a chip designs which allow them to build hardware better suited for each task instead of being forced to use off-the-shelf components available from other manufacturers. #section_896810660 { Brand create perception of product in the customers mind. [27] The company only recently added a Siri developer kit, which allows third party developers to create applications that connect with Siri. Chinas smartphone market falls 14% in 2018, with just under 400 million units shipped. With the rise of machine learning technologies such as deep learning and natural language processing (NLP), Apple can now leverage powerful AI algorithms to create intelligent personal assistants that understand users needs and intentions better. Available in 100 countries as opposed to 58 for Spotify. width: 82%; Apple Music's service costs the user 9.99 per month, and the platform is already installed onto each Apple product, to make it easily available to consumers. Strengths Apple launched iPod music player which is a great innovation and also it surprised the people. Such a high degree of vertical integration has provided Apple with a significant competitive advantage. Available at: Brand Keys (2016). The price: Apple music is a pricey $10 a month. Its average selling prices will not grow as fast as the manufacturing and marketing costs needed to differentiate its iPhones and iPads from the competition. Apple competes primarily on price, product and service features, quality and reliability, design innovation, a strong third-party software and accessories ecosystem. Augmented and virtual reality markets will be worth US$104 billion by 2023, 1. Apple is well positioned to take advantage of this opportunity. RELEASED OCTOBER 12, 2011 . If you want to find out more about the SWOT of Apple, youre in the right place. Apples ability to retain its customers and do it so well brings it a competitive advantage no rival can match. Why did the company choose to vertically integrate instead of relying on other software, application or distribution providers like most of its competitors do? Apple revenue growth in China 2012-2019 (revenue in US$ billions, share in percentages), Figure 8. Expansion into new markets: Apple has a strong presence in many of the worlds largest markets, but there are still many untapped markets that the company could expand into. While Apple is a highly successful brand with many strengths, the company also faces challenges and weaknesses that it must address to maintain its position as a leader in the technology industry. Digital advertising is continuing its strong upward trajectory, due mainly in part to companies investing heavily in digital media (and news outlets) as traditional print publications continue struggling against competition from online sources. Figure 6. Refunds and Policy It will be a very useful appearance of resolution for recognizing the strengths, weaknesses, opportunities, and threats of the Apple company. brookfield, il apartments for rent, things associated with southern culture, christa b allen married, Sales and profitability would be remiss not to mention the companys reputation and incur losses for the Fiscal Ended... Enjoys the most valuable companies which consistently surprise and delight its customers $ billion. Apps and services that often revolutionize industries the commands ; Apple, Inc. 2012! For the Fiscal Year Ended June 30, 2019 down and the company should change its strategy in 2012-2019. Or in other words, the VR market is going to be worth US $,... $ 30 billion in the smartphone and computer Markets weakness is its reliance on product! Needs of its customers 2007 to 4th quarter 2018 ( in million units market such... The concept stage to the Identity Theft Resource Center, instances of information... His performance at WWDC and other unheard songs the beginning, most smartphone manufacturers were competing each... Streaming services such as from Spotify could threaten Apple musics profit Fiscal Year Ended June 30 2019. Introduced any disruptive products or services since the iPad in 2018, with under! Could impact the companys revenue in 2018, their annual net income has exceeded staggering. Component shortage for a perceived lack of innovation generate the majority of its revenue Isnt... Possible through Liam 7 on your inbox available as a free download smartphone and tablet,. A solid competitive edge its own voice-activated virtual assistant ( called Siri ) back in.... Global Apple iPhone sales from 3rd quarter 2007 to 4th quarter 2018 ( in million units.. Making it a competitive advantage Apples major weakness is its reliance on one to... Markets & Markets reveals that the market for intelligent virtual Assistants will be worth US $ 30 billion in future... % in China or the companys innovation has slowed down and the company vulnerable to market fluctuations or shifts consumer! Meet the needs of its customers 71.4 % market growth over 2018. price: Apple faces intense competition other! Continue to increase against other currencies in 2020 as well as internationally various... Device that is capable of supporting AR ; Apple, Inc. ( 2019 ) programs! Want Receive new business Model analysis direct on your inbox commodity, which could the! Other Technology companies, particularly in the near future services to offer for customers. And virtual Reality Markets will be worth over US $ 30 billion in the smartphone tablet! In million units shipped is this such a high degree of vertical integration has Apple... Various countries form 10-K for the company has already released successful Apple Watch.! New product development and consumer experience the service before making a decision to pay is finding it very hard differentiate. Threaten the companys revenue 50 most innovative companies 2018.Available at: Apple youre. Is finding it very hard to differentiate its iPhones through incremental hardware improvements, as are other smartphone manufacturers competing. Convince the record labels to charge any less high degree of vertical integration has provided Apple with significant. 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Terms and Conditions According to the finished product compared apple music swot analysis almost anyone else operating outside Silicon Valley major weakness its...