What you need to know

  • Data from Consumer Intelligence Researcher Partners shows that HomePod market share is at just 5%.
  • Apple's smart speaker lags far behind the competition, with Amazon at 70% market share.
  • CIRP's data shows that smart speaker sales continue to increase.

Earlier this year, Apple lowered the price of HomePod from $350 to $300. It doesn't appear, however, that the price drop has had any significant effect on sales.

According to data from Consumer Intelligence Research Partners (CIRP), Apple's HomePod has just 5% of the smart speaker market, trailing far behind rivals Amazon and Google. In fact, Amazon, which sells a variety of smart speaker options, has a commanding 70% of the smart speaker market.

According to Josh Lowitz, Partner and Co-Founder of CIRP, entry-level smart speakers are what's driving sales—devices such as the Echo, Echo Dot, and Echo Plus, which are $150 and under. Apple's HomePod is more of a premium entry focused on sound quality rather than smart speaker capabilities.

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CIRP's data shows that the smart speaker market has grown overall from March 2019 to 76 million units. "Continued aggressive pricing of the entry-level models seems to continue to encourage new customers to try a smart speaker and existing owners to consider adding more devices to their home," Lowitz said.

There have been rumors about Apple potentially releasing a more affordable HomePod in the future, but we have no idea when that might happen. For now, HomePod will get better this fall, because Apple is planning to add multi-user support and hand-off audio for music, podcasts, and phone calls.

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