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Do you find yourself becoming less and less excited about Apple’s newest iPhone every year? If so, you’re not alone.

A recent study from Citi Research Innovation Lab shows that people are losing enthusiasm over the newest release of Apple’s flagship product, the iPhone, with each passing year.

Analysts at Citi pored over Google search trend data covering the past six years, going as far back as 2012, the year the iPhone 5 launched. What the analysts found was that there’s always an initial spike in Google searches following Apple's annual iPhone event in September, but the total number of searches about the iPhone and its launch event have been declining for the past five years.

"We observed there are significant spikes for web searches after the launch event each year. We also see the momentum has been decreasing over time," a Citi analyst said. The company added that they believe the data shows that “the market has been maturing, and customers are getting less excited for each new generation of iPhone.”

Citi suspects what is happening is that “a slowdown in innovation and the saturation of the iPhone” in a now busy smartphone market has led to this decreased enthusiasm.

A similar iPhone study by Statista released last month came to an identical conclusion. And this study was before Apple’s iPhone XS, XS Max, and XR announcement. Citi’s report confirms the decline in excitement for this year too, according to Business Insider.

While Apple updates the iPhone line each year, these upgrades do seem to become less significant with each passing iPhone model. In the earlier days of the iPhone, customers were treated to huge improvements to the smartphone’s camera, screen, and other features. However, what felt revolutionary then has become standardized across the entire smartphone industry. Technology is currently pushed to its limit. Personally, I went from upgrading my phone every two years to keeping the iPhone 6S long after it became outdated.

It’s not all bad news for Apple, though. Analysts note that declining “excitement” based on how many people are searching Google for the latest iPhone each year doesn’t automatically translate to declining sales. In fact, analysts still think “single-digit” growth for the iPhone is “achievable.”

But at this point, it’s clear that Apple needs to do something to get people excited about the iPhone again. Otherwise, customers will likely hang onto their outdated iPhones just like me.

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