The companys brand is associated with quality, innovation, and a commitment to customer satisfaction, which has helped to build customer trust and loyalty. Over the past 10 years, Apple has infringed many patents and has had to pay damages accordingly. Unlike Spotify and Youtube, Apple music allows you to watch videos without advertisement. But these measures cannot provide absolute security, and losses or unauthorized access to or releases of confidential information occur and could materially adversely affect the Companys reputation, financial condition and operating results. [1]. STRENGTHS: Popular tech brand: The company receives US$142.381 billion or 54.7% of its total revenue from iPhone sales alone. 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. Strengths. width: 82%; Apple has been successfully competing in China since entering the market in 2009. Entering into Area of Non-Competency 4. Globally Iconic 3. To capitalize on this growing trend, Apple has launched multiple successful streaming services, such as Apple Podcasts, Apple Music, and Apple TV+. It was the first company to have a market cap of over $2 trillion, and has shaped our world. Few threats are posing real danger for the company. The more significant financial commitment needed to purchase these products and services puts them out of the reach of many consumers. Best Global Brands 2019. margin-bottom: 0px; #gap-325806325 { Want Receive new Business Model Analysis direct on your inbox? #text-3118262510 > * { According to their latest study,[8] Apples brand enjoys the most loyal customer base in the tablet market. Online market: the online market offers music platforms such as Apple music to greatly expand their business to a much wider audience. Figure 9. Apples reliance on a proprietary operating system and closed ecosystem have been both a strength and a weakness. Sign In . Initially, Apple grew in China because its products conveyed status that no other brand could offer. Company Unique, innovative and easy-to-use products and services that integrate seamlessly into one Apple ecosystem are the reasons why customers buy Apples premium products and enjoy using them. The company designs, manufactures and markets smartphones, tablets, personal computers, wearables and accessories, and offers many related services including financial services. Integration of AI and machine learning: Artificial intelligence and machine learning are becoming increasingly important in the tech industry, and Apple has an opportunity to integrate these technologies into its products and services. These opportunities could come from the augmented reality (AR) and virtual reality (VR) markets. I bet they swamp the other streaming platforms. Any changes Apple makes become a market trend, especially in the smartphone market. In the Fast Companys list of The Most Innovative Companies of 2019. Their reputation as one of the most valuable companies globally has been carved out by their dedicated customer base, widespread presence, and highly successful marketing campaigns. It has introduced many breakthrough products to the market, such as the iPod, iPhone and iPad. 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. color: rgb(255, 255, 255); In this article, we do a SWOT Analysis of Apple. Current forecasts indicate that the U.S. dollar exchange rate may continue to increase against other currencies in 2020 as well. Apple was the first company to launch its own voice-activated virtual assistant (called Siri) back in 2011. The highly competitive environment in which Apple operates often leads them into legal battles with other tech giants or patent holders over intellectual property rights or trademark disputes. According to Interbrand[4] and Forbes[5], the Apple brand is worth US$234.241 billion and US$205.5 billion, respectively. This would strengthen the companys ecosystem and provide a better user experience. padding: 0px 5px 0px 5px; Apple needs to focus more on. Changing consumer preferences: Consumer preferences and trends can change quickly, impacting the demand for Apples products. Sustainability made Possible through Liam 7. Smartphone designs are also getting more similar. Apple is actively fighting against this problem, but it persists as counterfeiters continue to find ways around their efforts. The Worlds 50 Most Innovative Companies 2019. Cheaper hardware also tends to mean reduced quality, and customers may end up having a negative experience when using these knockoff items. This has the potential to threaten the companys reputation and incur losses for the company and its customers. Over 305.2 million wearable devices were sold in 2019 alone, representing 71.4% market growth over 2018. The rest of the companys products include wearables, home and accessories, which account for another 9.4% of the revenue and is the fastest growing Apples product category, growing by 41% in 2019. Innovation challenges: While Apple is known for its innovative products, it has faced criticism recently for a perceived lack of innovation. Apple is now an iconic brand, and there isn't any home equipped with at least one Apple device. Many Chinese now consider their own local brands as quality products. Improved smartphone and wearable technologies have given rise to many opportunities for Apple. iOS (Apples proprietary mobile operating system) is the only competitor to Googles Android, which runs on nearly every other smartphone sold in the world. Strengths. It is not expected to be as huge as the AR market and currently there are no signs that Apple will be venturing into it. 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. SWOT Analysis of Apple 3. Economic factors: Economic factors such as recessions, inflation, and currency fluctuations can impact consumer spending and purchasing power. Apple music similar to Spotify, Tidal etc is a streaming service and therefore customers do not actually own the music they are streaming rather listening to the music remotely. #gap-325806325 { A decline in the global economy or a significant shift in exchange rates could harm Apples sales and profitability. has successfully expanded its services over the past few years and developed numerous content stores like iCloud and Apple Music, which are accessible in about 52 countries. Apple music debuts music at 256kpbs which is although the same as iTunes. If Apple wishes to continue dominating the industry, it must actively innovate and invest more deeply in research and development; failure to do so risks further losses in its market share as it falls behind its challengers. The company engages in many activities along the smartphone industrys value chain, including: The company also designs a lot of its own components, but outsources their manufacturing to other companies. Chinas market isnt the most lucrative in terms of profit, but it is the largest and the market share in Chinese smartphone market is vitally important for the future success. In 2018 alone, Apple sold 217.72 million iPhone devices[36] which could potentially be targeted through various software exploits and bugs. Connect: a social networking feature, which lets fans follow artists. Curated playlists: offer tailored music to your taste built by real people according to Apple, you can find this in the For you sector of the device. Access a customizable report on the artist's performance across thousands . } Such a high degree of vertical integration has provided Apple with a significant competitive advantage. Available at: Fast Company (2018). Since then, smartphones have improved a lot. Apple generated a revenue of $365 billion in 2020 and 52% of it was from iPhones. Apple is highly dependent on the success of its flagship product, the iPhone. In 2019, the U.S. dollar increased in value against other currencies for the second consecutive year. It will be a very useful appearance of resolution for recognizing the strengths, weaknesses, opportunities, and threats of the Apple company. For over 30 years, Apple has been significantly relying on an external advertising agency TBWA/Chiat/Day help for launching its marketing and advertising campaigns. This has helped to create a strong network effect, where the value of the products and services increases as more people use them. Available at: Samsung Electronics Co., Ltd.(2019). Smartphone Brand Loyalty Statistics (2019). Background of The Apple Apple is famous for its iPhone, iPad and Macbook. Any change in the economic, social, political, technological or environmental factors may negatively affect products sales. Some critics argue that the company no longer leads the industry regarding product innovation, which could harm its brand reputation over time. padding: 0px 0px 0px 0px; Apple's niche audience provides the company with some lagging from the direct price competition. Google also allows its virtual assistant to be added to third party hardware. Moreover, their long-term strategic investments hint strongly at a continued commitment to becoming a major player in the content streaming space. The company is always looking for ways to improve its products and create new ones that meet the needs of its customers. height: 150px; Apple is known for producing high-quality, innovative products focusing on design and user experience. It has a strong focus on innovation, making it a leader in new product development and consumer experience. Apple released its first iPhone in 2007, disrupting the mobile phone market and setting the standards for the new smartphone market. But no business is immune to external or internal factors that can have a negative or positive impact on their operations and bottom line. Even with the lowest R&D budget, Apple was still able to generate more revenue than any of its rivals. For all purchases of its iOS devices, the company collects and stores various data about users including their email addresses, passwords and credit/debit card information. How about the virtual reality market? Apple Music is Apples attempt to take over the music streaming market. Brand Of Choice 5. Apple is a market leader in the technology industry for a reason; its high-quality products are extremely popular among consumers. } padding-top: 0px; } NEWSLETTER Over the next few years, Apple will continue to grow successfully. The Company devotes significant resources to network and data security, including through the use of encryption and other security measures intended to protect its systems and data. A SWOT analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats of a business, project, or individual. padding: 0 0px 0px 0px; [1], Apple operates and sells its products in over 100 countries, but the U.S. China, the U.K. Canada and Australia are the most important markets. As for the weaknesses, the decline in China should be addressed as soon as possible. Privacy Policy height: 150px; } Innovation: greater innovation can help apple music streaming to produce unique products and services. (function() { High prices: Apples products are generally priced higher than its competitors, making them less accessible to some consumers. While Apple is still capable of growing its revenue without the breakthrough products and services it traditionally introduced to the market, it will have difficulties maintaining its growth in the future when hardware products will become more commoditized. padding: 0px 0px 0px 0px; Available at: Brand Keys (2016). Apple SWOT Analysis Apple Inc. is an American multinational technology company that designs, develops, and sells consumer electronics, computer software, and online services. Wearable Devices Market worth $62.82 billion by 2025- Exclusive Report by Meticulous Research. #text-292481563 { Heres how. #text-292481563 > * { Smartphone OS market share 2019. [20] Since 2012, the company has been awarded the most innovative company title only once. Personally I believe his influence within the music platform such as within Beats one generates a serious amount of hype and will continue to do so in the future. The Worlds Most Innovative Companies. Competitors such as Samsung, Google, and Microsoft have developed their own innovative products that compete directly with Apples offerings. Strengths include the ecosystem, brand recognition and customer loyalty, and management and culture.. ); [21] Forbes, which has its own list of the 50 most innovative companies in the world, doesnt even list Apple in it.[22]. Available at: Alphabet Inc. (2019). Strength: iTunes Music Store is a excellent source of revenue, especially with the iPod and the accessibility on Windows platform. Apple SWOT Analysis 2023. This gives them a much quicker path from the concept stage to the finished product compared to almost anyone else operating outside Silicon Valley. Available at: Apple, Inc. (2012). If these predictions are correct, AR and VR markets should be worth around US$104 billion in 2023. Through proactive strategies in marketing and operations management, Apple can capitalize on opportunities presented by the ever-changing digital landscape while mitigating risks to ensure continued success in the years ahead. Apple Inc. has become the most valuable company in the world worth US$ 2,6 trillion in 2023. height: 150px; For example, consumer tastes may change or there could be a component shortage for a specific product. Figure 7. By tapping into the advertising business, through its planned iDSP program, Apple could create a brand-new source of revenue for its bottom line. Proficient Research & Development 6. . Alexa, Google Assistant and Siri will get smarter this year. Government attempts to force Apple into unlocking iPhones for law enforcement, and intelligence-gathering purposes present huge vulnerabilities, putting users private information at risk. #col-803787974 > .col-inner { #section_896810660 .ux-shape-divider--bottom svg { 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. Why is this such a major weakness for the company? } In 2018, Spotify's market share was . The companys commitment to providing excellent customer service and quality devices has earned its loyal fans, as well as a massive following on social media platforms such as Twitter and YouTube. This can damage both the reputation of the brand and customer loyalty when people realize they have been scammed into buying inferior goods. High Priced Products 2. } 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: IDC (2019). In recent years, Apple has seen its market share reduce as other competitors emerge. 2015 Winning Brands Brand Keys Customer Loyalty Engagement Index. #text-3118262510 { Blockchain has the Apple Music Could Generate 2.5% Of Apple's Total Revenue Spotify has 34% global market share in streaming music, compared with 20% for Apple, Munster estimates. These and many other factors resulted in Apples revenue dropping by US$8.264 billion or 16% in China in 2019. U.S. Dollar can still roar in 2020 even as it ends 2019 with a whimper. The company also sold millions of iPads, Mac computers and other wearable devices. listeners: [], Available at: Christensen, N. at Kitco (2019). } Apple Computer are expert in Developing own software and hardware. Strengths in Apple SWOT Analysis 1. Currency exchange rates affect every multinational company, including Apple. Swot Analysis Examples Competitors [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. While the company is trying to diversify its revenue sources, it is still largely affected by iPhone sales. [30] Wearables are getting more accurate at measuring heart rate, blood pressure, body temperature, stress levels and other health conditions. At the beginning, most smartphone manufacturers were competing with each other based on hardware, design, software and additional services. } Customers praise the companys products for their innovation, design, ease-of-use, reliability and the status they convey. However, they also face numerous challenges that need addressing. #section_1771581351 .ux-shape-divider--top svg { Apple iPod not only increase the company sales but also influence the people to get experience of Apple notebook and operating system. #col-803787974 > .col-inner { For example, if consumers begin to favor more affordable or customizable products, Apples premium pricing and closed ecosystem could become a liability. 2:47 PM PST March 9, 2023. 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. })(); 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. I've created a SWOT analysis to make clear what aspects both companies have to their advantage and disadvantage. This can be seen by the sheer number of downloads that app developers receive for their apps on the App Store many developers report a huge increase in sales when releasing an app on Apples platform compared to other platforms. In 2018, 1,244 identity thefts were reported. Apple has built its business by selling and manufacturing computer hardware and software, but experienced significant growth and success by entering consumer electronics market with iPod, iPad and iPhone products. #text-3105903767 > * { We will try to find out major Apple's strengths, weaknesses, opportunities and threats that affect its performance positively or negatively. The company is well aware of the opportunities that augmented and virtual reality markets have to offer. Figure 11. An ecosystem of products and services: Apple has created a cohesive ecosystem that works seamlessly together, making it easy for customers to integrate Apple products into their lives. padding: 0px 0px 0px 0px; Virtual reality (VR) and augmented reality (AR) are two up-and-coming technologies that have gained traction amongst tech giants around the world in recent years. Research from Markets&Markets reveals that the market for intelligent virtual assistants will be worth over US$25.63 billion by 2025. This includes investing heavily in research and development so that novel technologies can be quickly brought into production for use within its hardware devices, as well as software applications for both macOS and iOS platforms so that users can get more out of them than ever before. Apple should continue to focus on developing its unique software and hardware ecosystem, which is the main companys differentiator and the main competitive advantage over the rivals. Save my name and email in this browser for the next time I comment. Also, when it comes to mobile devices, iPhones were one of the first mobile phones that allowed access to internet streaming services like Spotify, thereby allowing users unprecedented access to content anytime, anywhere, through their phones themselves. window.mc4wp.listeners.push( Available at: Graham, M. at CNBC (2019). } @media (min-width:550px) { iPad category, which includes iPad, iPad Pro, iPad Air and iPad mini products, accounts for 8.2% of the total Apples revenue. Understanding these elements both strengths and weaknesses and opportunities and threats via a SWOT analysis is essential for any company to develop competitive advantages. 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. Strong marketing: Apple is known for its effective marketing campaigns that focus on the benefits of its products and the emotional connection customers have with the brand. 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. The plaintiffs in these actions frequently seek injunctions and substantial damages.[1]. One area of growth potential for Apple lies within its iAd advertising program, a now discontinued service designed specifically for iPhone, iPad, and iPod touch users that allow advertisers to display ads across all iOS devices worldwide. color: rgb(255, 255, 255); Services: The services business of Apple, which includes Apple pay, Apple Music, and the App store, is growing rapidly and is a possible source of revenue for the firm. 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. [27] The company only recently added a Siri developer kit, which allows third party developers to create applications that connect with Siri. Artists can share personal content. } While this strategy has enabled the company to maintain its market share, it also restricts compatibility with other devices. text-align: left; --divider-top-width: 100%; Instead of growing by acquiring its competition (horizontal integration), the company chose to grow by venturing into other activities along the industry value chain. Strong Brand Value According to Interbrand's Best Global Brands 2022 ranking, Apple won the title of top global brand for the tenth consecutive year with a brand value of whopping $482,215 million. Apple Computer Company was founded in April 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. --divider-top-width: 100%; Apple SWOT analysis framework is a strategic management decision-making technique that identifies the firm's most important issues based on internal and external business conditions. Many reports suggest that Apple will launch its first AR headset in 2022 and a pair of AR glasses in 2023.[26]. 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. Caso apple analysis: focus on external internal environments perform swot analysis for apple. Subscribe now and don't miss any new posts! Availability: on all iPhones, iPads, and iPod touch models that are running iOS 8.4 or later as well as Android. To remain successful in the long term, Apple must continue leveraging its strengths, take measures to address its weaknesses, and constantly monitor external opportunities or threats that might arise. [15]. Focus on differentiation through constant innovation. (LogOut/ Design excellence: Apples products are known for their sleek, elegant, functional, and aesthetically pleasing design. The market for wearable medical devices will see significant growth in the future. Artificial intelligence (AI) is revolutionizing the way businesses operate and the way consumers interact with technology. [3] The company has revolutionized the smartphone market and has created one of the most iconic brands in history. I have chosen Apple for this analysis. Dental Implants Market Research [2023-2030] Conducting a Thorough Market Analysis Published: April 17, 2023 at 11:55 p.m. A strong dollar does not only decrease the profits from foreign countries but also makes the companys products more expensive and less attractive to the customers abroad. The main companys product is iPhone, which runs on Apples iOS operating system and accounts for 54.7% of the total companys revenue. Corporate Strategy Introduction "Marketing strategists term this a harvest strategy and consider it a no-brainer" (Hamel & Prahalad, 1994:125). This means that customers must purchase Apple products in order for them to be used together without any modifications or additional software purchases. It involves identifying the internal and external factors that can affect a ventures success or failure and analyzing them to develop a strategic plan. [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. With competition coming from companies such as Google with their Android operating system, Samsung with their smartphones, or even Spotify with their music streaming platform, they continue to eat away at Apples market share each year with products that are often cheaper than Apples while still offering similar or sometimes even better performance than what Apple offers at a particular price point or feature set. On design and user experience in 2011 of innovation posing real danger for the new smartphone market setting... These actions frequently seek injunctions and substantial damages. [ 1 ] a proprietary system! Potential to threaten the companys products for their innovation, which could apple music swot analysis be targeted through various exploits! 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