Apple's services revenue is likely to cross the USD 100 billion mark for the first time, despite legal and regulatory risks, which have been accounting for one-fourth of its revenue by 2025.
A new Counterpoint Research report surfaced which stated that the tech player should breach the USD 400 billion revenue mark for the first time in 2024, which has been supported by the growth of its hardware and services segments.
As per the analysts, antitrust lawsuits in the US and EU (European Union) pressure are the key risk factors, but they are likely to play out over a longer term.
Jeff Fieldhack, Research Director said, "We know there is risk, but it is early stages right now. So, we are not expecting any impact to monetisation of the iPhone installed base, at least not in the medium term.
Apple’s growing installed base, which is more than two billion devices at present has created a flywheel effect on the growth of the brand’s services business.
Apple Store, followed by Apple Care+, Apple Music, and a round-up Apple One subscription, has driven inflexion points for the tech giant with a growing device base, according to the report.
Launched in 2023, AppleOne could become the single largest contributor to Apple’s services revenue. In addition, analysts expect that iPhones will continue to capture half of Apple’s revenue and remain the centrepiece of the company's ecosystem.
iPhone growth in emerging markets should also help with future growth for other Apple products as many consumers will be new users entering the iOS ecosystem. As these consumers become more dependent on their iPhones, they are likely to spend more on other Apple products, the report said.
Apple has further celebrated its Foundation Day on April 1st, as the company first incepted on 1976. The company has grown into one of the world's largest and most prestigious consumer tech companies, which is shaping the landscape of personal computing and consumer electronics.
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Inputs from IANS
