Since the release of the first iPhone (almost 12 years ago), Apple has grown into one of the most profitable companies in the world with a thriving ecosystem of about a billion users. They spend tens of billions of dollars on products and services from the Cupertino giant. This trend continues, and per user amounts are growing every quarter as Apple introduces in-demand services and software, tools and services that are tightly integrated with its devices. According to analysts at Counterpoint, the next big segment of Apple’s revenue will come from geo-location.
Apple has significantly improved the location capabilities of Apple Maps by adding various sensors to its devices (iPhone, Apple Watch, AirPods, and so on) to build a living network of billions of active gadgets and users. Apple’s Find My app has evolved into an entire location network that is tightly integrated with Apple Maps and Apple products. Thus, the Cupertino giant aims to solve the hidden problem of user tracking.
During a recent Apple presentation, a tiny $ 29 AirTag search beacon was announced. This 32mm coin tracker is IP67 rated with built-in speaker, sensors and UWB, Bluetooth and NFC connectivity. The advantage of this gadget over the rest is how the tracker interacts with the Apple device, as well as security and privacy by encrypting location data.
Earlier this month, the company officially announced its support for third-party devices on the Find My network developed under the Apple MFi certification program. This is a huge opportunity for Apple to provide service not only to its ecosystem of users, but also to partners. As the ecosystem expands and users see the importance of finding their belongings, Apple may launch a paid subscription, which will spark the interest of insurance companies and help lower Apple’s insurance costs. Analysts predict at least $ 10 billion in revenue over the next five years.
Apple will also look to expand and scale its positioning and mapping capabilities for its future projects such as Apple Glasses and Apple Car. In the future, the company will be able to monetize its platform and equipment in enterprises, as well as optimize its supply chain. By the end of the decade, geolocation will be one of the key technologies driving Apple’s multi-billion dollar revenue directly or indirectly.
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