New opportunities for accessory manufacturers to insert themselves into the Apple ecosystem.
Apple has always had a closed-shop philosophy, whether it refers to its sandboxing of iOS or its proprietary connectors. On the one hand, this has often delivered the streamlined and high-quality software and products that it aimed for. On the other hand, at least on the hardware side, it meant fewer chances for third-party manufacturers to enter the market when the proprietary connectors or tech was not licensed widely.
Now that it has been out for a couple of years, however, Apple has finally opened the gates for the Lightning connector. One of the most important reasons that this is important for accessory manufacturers is that it will allow them to integrate the port directly into their products, rather than using workarounds like providing a separate cable that would link to the accessory. Now, accessory manufacturers can also take advantage of all of the features that the cable has to offer: not only is it a power cord, but it can also be used to transmit audio and data, so headphones can now be plugged directly into the Lightning port in an iOS device instead of a 3.5mm jack.
Finally, the Lightning port that Apple has licensed is also a smaller and thinner design, allowing new accessories to be even slimmer, without having compatibility problems. This could be a boon for power bank manufacturers in particular, where design is a key differentiator for their products.