Arguably late to the AI game, Apple’s (NASDAQ: AAPL) understated push into AI has it set up to grow substantially over the next decade. Ultimately, it won’t be about the flashiness of the AI product or launch, but its durability, and Apple has proven to be a durable business. The company commands over 28% of the global mobile market, tied to its ecosystem and AI products, and is well-positioned to capitalize on it.
The outlook for AI services growth is robust. The AI services market is expected to grow at a nearly 30% CAGR for the next decade and drive growth across the technology industry. Within that, the app market, about 20% of Apple’s business, is forecasted to increase by 18%, led by personalized AI assistants and business automation. Business apps, which account for about 10% of the Appstore apps, will also be a significant driver. As for Apple, it will continue to take the 30% share of the app and in-app purchases that it has.
