When Apple announced the HomePod, they priced it above what most smart speakers were priced at the moment. According to Apple, they claimed that the HomePod wasn’t so much a smart speaker but a set of really good speakers. We’re sure that many are wondering how its doing, and it turns out they’re doing pretty well.
In a report from Strategy Analytics, it turns out that the HomePod is killing it in the premium smart speaker market, which are basically smart speakers priced above $200. The report claims that HomePods accounted for 70% of that particular market. However it should be noted that the premium smart speaker market is pretty small, so while it is an achievement, it also means that its adoption isn’t as wide as Apple probably would like.
Other speakers part of this premium market include the likes of the Google Home Max and some of Sonos’ speakers. However in terms of overall smart speakers, the HomePod is only but a fraction of the total market, which according to Strategy Analytics accounts for about 6%. Given that the top five speakers are priced less than $150, this shouldn’t be surprising.
There have been rumors suggesting that Apple could be planning to launch a HomePod Mini which will be a smaller and cheaper version, but we haven’t really heard or seen anything since.