Analysis: Apple’s global revenue will exceed $400 billion in 2024

According to current forecasts by market research firm Counterpoint Research, Apple’s global sales will reach a record high of over $400 billion in 2024.

Hardware and services will be the revenue drivers.

Record global sales expected

According to a comprehensive analysis by market research company Counterpoint Research, Apple’s global revenue will exceed $400 billion in 2024, setting a new record high.

Hardware and services were identified as growth drivers. In 2023, Apple recorded a value in its hardware sales, which are expected to increase by 3 percent in 2024.

The hardware segment includes the iPhone, iPad, Mac, Apple Watch and AirPods, all of which will drive new sales with product launches. AirPods could turn out to be the fastest-growing category this year, according to market researchers. Hardware growth is expected to continue in 2025.

Service with record sales

Apple’s services will generate $100 billion in revenue for the first time in 2025, driven primarily by Apple Intelligence.

Nevertheless, hardware remains crucial because it accounts for up to 75 percent of global sales, said Tarun Pathak, research director of Counterpoint Research, in reference to the analysis.

Counterpoint Research senior analyst Varun Mishra explained that services continue to grow significantly faster than hardware. In 2025, services revenue will likely be higher with hardware without iPhones and the company is trying to monetize Apple Intelligence. Apple’s AI could increase services revenue by at least 10 to 15 percent in the next few years.

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