12 markets Apple could reinvent in the next decade

Known for its radical product reinvention, Apple has changed the way the world uses their mobile phones. So what’s next for the tech giant?

After Apple‘s recent milestone, I posed the following question to a panel of business owners from Young Entrepreneur Council (YEC):

What do you see Apple reinventing next, and how will this change the markets in which they operate?

1. The Search Engine

Apple has already launched their own search engine called “Spotlight,” which allows you to search for things like apps, documents, images and other files on your Mac. Since search ads are Google’s main source of revenue, it’s just a matter of time before Apple further constructs a search engine that will try and rival Google. With online privacy becoming more concerning, Apple may have an edge on Google if they can execute their search engine efficiently. – Anthony Pezzotti, Knowzo.com

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2. Home Automation

I strongly believe we are only in the beginning stages of innovation in home automation, and I suspect that Apple will eventually reinvent the space. The future of home automation is audio artificial intelligence and Apple has paved the way with Siri. Siri continues to be integrated into Apple products as exemplified by the most recent integration of Siri into Apple TV. I predict Siri will continue to integrate with Apple products and select third-party products to automate your entire home – from your television to your lights, home audio, thermostat and video surveillance. – Obinna Ekezie, Wakanow.com

3. The Health Industry

Apple is a technology company, and it’s tough to find an industry progressing further with technology than the health industry. With Apple having both mobile devices and watches, it would be way too easy for them to acquire (or create) a fitness tracker and partner up with the biggest health insurance agencies in the world. It’s all about connectivity, user data and technology – all of which Apple has a firm grasp on. – Zac Johnson, How to Start a Blog

4. The Mobile Phone

Apple has filed multiple patents for a flexible material that could store and process data and work with flexible screens. The mobile phone has stagnated since Apple launched the first ever App Store, and since then, they and other manufacturers have been merely adding hardware features to the same old thing. Very soon, Apple will reinvent the phone to be flexible, wearable or, perhaps, implantable. – Anthony Johnson, American Injury Attorney Group

5. Integrated Technologies

We know that the Apple Wallet has the potential to revolutionize the way we pay for services. However, what if the Apple Wallet included a voice command technology so you could tell your phone to “pay the electric bill” while you drove to work? With electronics like the Echo starting to come to market, these all-in-one devices will only continue to improve over time, integrating more and more of our electronics into fewer pieces of equipment. – Nicole Munoz, Start Ranking Now

6. The Automotive Industry

Apple will either acquire Tesla or create their own hybrid electric and solar powered vehicle, which will of course be self-driving as well. The transportation industry is innovating rapidly, and infusing Apple products for music, video and more into the transportation experience will add to Apple‘s integration into every area of our lives. – Anshey Bhatia, Verbal+Visual

7. IoT for Home Automation

Automating and connecting the home as part of the IoT industry continues to be a growing market. While Apple has done some things related to home networking related to entertainment, they might consider getting into other aspects of the home related to the atmosphere, security and functionality. Along with their potential move into the auto industry, they could then be a dominant player in providing all devices within a person’s individual and business network for them, creating more reliance on Apple‘s solutions and locking in more customers to their products. – Angela Ruth, eCash

8. The Mobile Search Industry

Apple could possibly enter and reinvent the mobile search industry, since it doesn’t really have a role in that space currently (aside from Siri). You might see it create a more general digital search product, meaning that Google, Bing and Microsoft may have to improve or upgrade their current offerings. – Andrew Schrage, Money Crashers Personal Finance

9. Virtual Reality

It strikes me that Apple isn’t in a position in which they need to take major risks, so it’s hard to say whether or not they will reinvent or innovate in any major ways in the immediate future. There is, however, a major opportunity in Virtual Reality, and it’s likely that Apple is already thinking about ways in which they might be able to capture the market with their technology. If they do it right, they might be able to get significant market share. – Ismael Wrixen, FE International

10. Augmented Reality and Computer Vision

Apple will have a strong hand in integrating IoT with a number of its products. But with Apple‘s acquisition of computer vision experts Metaio last year, and a number of patent filings related to wearables and computer vision (CV), there is evidence of Apple positioning itself to be working on the next generation of augmented reality (AR) and CV technology, both in hardware and software. With Google’s Project Tango and Project Glass, and Microsoft just releasing Hololens, look to Apple to announce something of their own. AR is projected to be a $150 billion business by 2020. – Jeremy Kenisky, Geomedia, Inc.

11. Smart Watches

The iWatch was like the original Macintosh – a great idea with huge potential that never really got off the ground. Although a cool gadget, the iWatch simply lacks in functionality and features to cause mass adoption. Integrating the iWatch with the IoT would allow Smart Watches to enter their next step of evolution. Apple has the raw material, it simply needs greater integrations and functionality to revolutionize the world of Smart Watches. – Marcela De Vivo, Brilliance

12. The Travel Industry

With Virgin America partnering with companies like Nest, it only makes sense that Apple will start exploring this space as well. It’s a billion dollar industry, probably more, so more people rely on travel and tech than ever. The marriage between the two is an obvious one and the possibilities are endless. – Brooke Bergman, Allied Business Network Inc.