Question

Discuss the acceptance of Apple Pay in the context of the Adoption Curve.

Answer 1

Ans

The Adoption curve has following subsets:

x= percentage of total user set

x <2% : innovators

2%<x <15.5%: early adoptors

x<50% early majority

50% <x<84% late majority

x>84% laggards

Today Apple Pay has over 441 million registered users since its launch in 2014. This is approximately 33.9% of digital wallet users ( taking over 1.3 billion digital wallet users, source: statista). Thus globally Apple Pay is at the Early Majority stage of the adoption curve.

However in certain geographies like US and EU the number of Apple pay users as percetage of digital wallet users is much higher about 50%. Thus in these markets Apple pay is in the Late Majority phase of adoption curve.

In certain markets like India, Apple Pay is still not even 2% of the digital wallet users. Thus in this market Apple Pay is in innovators stage of adoption.