Apple Watch is a wearable smartwatch. Tech giant multinational corporation Apple developed and launched the smartwatch in 2015. The company has launched various models and series over the years with unique features and smart options. Today, we’ll discuss the SWOT analysis of Apple Watch; it outlines strengths and weaknesses; opportunities, and threats that the company has to face; as a business strategy analysis example company.
Features of Apple Watch
- Tracking health
- Wireless communication
- Health and fitness management
- Easy accessibility
Operating System and Parent Company of Apple Watch
- Watch OS
- Apple
Statistical facts and figures of Apple Watch
- Unit sold – 43.9 million (2022)
- Annual revenue – 20 billion USD (2022)
- Global marekt share – 30%
- Last Mode – Series 9 Ultra 2
Competitors of Apple Watch
- Oura Ring
- Garmin Instinct 2 Solar
- Google Pixel Watch 2
- Samsung Galaxy Watch 6 Classic
- Huawei Band 7
- Fitbit Sense 2
- Louis Vuitton Tambour Horizon Light Up
The SWOT analysis of Apple Watch would analyze the internal strengths and weaknesses of the company; and external opportunities and threats that the brand has to face. Here’s Apple Watch SWOT analysis as a business strategy analysis example company as follows;
Strengths of Apple Watch
Some of the main internal strengths in the Apple Watch SWOT analysis example company as business strategy analysis are as follows;
Dominant Market Share
According to an estimate, Apple Watch has earned a global market share of approximately 30% in the smartphone market industry. The company has sold approximately over 5 million units of smartwatches in 2023. The dominant market share of the smartwatch wearable product category further strengthens the market value and brand positioning of the company.
Health & Fitness Tracking
Apple Watch offers a unique feature of health and fitness tracking in terms of their daily count of steps, monitoring their sleep time, and their heartbeat. The health and fitness indicators are very important to the health and fitness enthusiasts.
Easy Connectivity
Apple Watch offers an easy connectivity feature and option and it allows users to easily connect their smartwatch to their smart devices. Once connected, it is super user-friendly and allows people to start tracking their health and fitness in no time.
SOS
The most important feature of Apple Watch is tracking the location of users and letting the authorities and police know their location in case of an emergency. In other words, it saves the lives of people and users by simply pressing the SOS button on their smartwatch.
Pioneer
Apple Watch has a unique competitive edge of being the pioneer smartwatch product in the market. It further strengthens the brand loyalty of Apple users; because the company has always shown a strong commitment to providing innovative technology to the customers.
Strong Parent Brand
The other main strength of Apple Watch is having a strong parent brand and tech giant company at its back. They have a vast database of customers, strong brand loyalty, and a successful technology track record. All of these factors contributed significantly to the worldwide growth and success of the smartwatch.
Weaknesses of the Apple Watch
Some of the main internal weaknesses in the Apple Watch SWOT analysis example company as business strategy analysis are as follows;
Expensive
Many marketing and business experts have raised concerns over the price of the Apple Watch. They mentioned that it is highly expensive and nearly unaffordable for many low-budget users. In fact, it is more than the average price of low-cost smartphones.
Impacting iPhone Sales
Audio video calling options on the Apple Watch along with many other features are the type of features that users usually expect in their smartphone. If the company keeps adding smartphone features to the smartwatch, soon it would negatively impact the sale of the iPhone.
Opportunities for Apple Watch
Some of the main available opportunities in the Apple Watch SWOT analysis example company as business strategy analysis are as follows;
Market Expansion
The smartwatch market is as big as the world’s population, and it holds great growth potential for the company’s product. Apple Watch should keep expanding its customer market by entering new geographical regions and markets across the world. It allows the company to amplify its customer market share.
Features & Service Expansion
Apple Watch should keep expanding the services and features of the smartwatch. The latest tech features would help the company to attract the attention of new potential customers and increase its customer market share.
Research & Development
Research and development are highly significant to the technology innovation. Apple Watch should keep investing in tech research to achieve efficiency and develop the latest features, and quality products for customers.
Threats to Apple Watch
Some of the main potential threats in the Apple Watch SWOT analysis example company as business strategy analysis are as follows;
Data Privacy and Tracking Concerns
The customer market has become highly cautious about data privacy and tracking. Governments and countries have developed strict regulations for tech companies about data privacy and protection. In case of non-compliance, it would bring a lawsuit of millions of dollars.
Competition
The smartwatch market has become highly competitive over the years with multiple smartwatch manufacturers in the market. It poses significant challenges to the tech brand to maintain its market share in the presence of tough competition.
Conclusion: Apple Watch SWOT Analysis Example Company |Smartwatch SWOT Analysis of Apple Watch |Business Strategy Analysis
After an in-depth study of the SWOT analysis of Apple Watch; we have realized that Apple Watch is the world’s leading smartwatch with the highest market share. If you are learning about the Apple Watch SWOT analysis example company; then you should keep in mind the abovementioned internal strengths and weaknesses; external opportunities and threats as brand strategy analysis.
Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Other than that, he’s a fun loving person.
