| I'm pretty skeptical that Apple has a decade-long lead on any of the other big players in the market. Any innovations that one company can make can be more quickly adopted than new innovations occur and there's nothing as far as software goes that Apple is uniquely positioned to create. The other factors mentioned such as silicon tech being years ahead of the competition is one that is hardly a factor for the smart watch category. On the other hand this is always the case and Apple's been the best at creating a general consumer wearable that appeals to the masses. Its integration into the apple ecosystem is a big selling point and that's probably the biggest factor that is basically impossible for competitors to replicate. On a tangential note, I'd like to take a moment to recognize the amount of work that Apple has put into its accessibility features. Assistive Touch on the apple watch will probably serve a remarkably small portion of the user base and perhaps costs more to develop than the return they'll ever see on it. Still, year after year Apple keeps advancing accessibility features in all of its products. This is definitely an area where big tech companies like Apple and Microsoft excel at. |
Apple has leads in silicon and cross-platform integration which is inarguably led to a better user experience, extended battery life, and smaller form factor. Try piecing together an Airpods Pro grade product with 'off-the-shelf' parts and half the firmware engineers.
Apple has orders of magnitude greater scale through their supply chain, and a real clincher: technological mastery of material science; from CNC milled aluminum to tooling for high grade plastic resin, and can shoulder out competitors from even touching the raw material once they've even realized they need it.
Apple has solid brand cachet, which drives loyalty which drives revenue.
Apple has (last I checked) the highest revenue/sq. foot retail space in the world. Yes, the rest of retail is dying, but Apple controls the image, experience, support, and purchasing of all it's own products. Check out an Apple store on a Friday night in the Bay Area, it's incredible how packed they are.
Arguably the most difficult thing for competitors to copy is the culture of industrial design and UX prioritization backed by engineering. Every other major competitor in their spaces shamelessly copies the externals without the same cohesion and mastery of internals -- it's embarrassing frankly (checkout the Oppo 'Enco X' earbud site, it's a poorly made rip off of the Airpods site).
I don't own any Apple products, and I don't endorse their labor practices, but I respect their brand, products, and patience in releasing GOOD things at the right time. Consumers do too, judging by revenue.
Apple's weakness is now their precarious position in bed with China, which will take decades to undo.