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Apple HomePod Has Already Stolen Some Market Share From Amazon’s Echo

By
Don Reisinger
Don Reisinger
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By
Don Reisinger
Don Reisinger
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February 22, 2018, 2:41 PM ET

Apple’s new HomePod smart speaker might have only hit store shelves earlier this month, but already it’s making a dent in the market.

The HomePod has secured 3% market share in the U.S. since its launch on February 9, according to researcher Loup Ventures, which surveyed 520 American consumers. Still, Apple’s HomePod is far behind Amazon’s Echo, which leads the market with 55% share. Google Home is in second place with 23% market share. Devices that use Microsoft’s Cortana virtual personal assistant collectively nabbed 15% market share, according to Loup Ventures.

Apple released its HomePod earlier this month with promises of offering the best-sounding speakers in the smart speaker market. The device, which has earned high marks for its sound quality, also works with Apple’s Siri virtual personal assistant. With Siri’s help, users can issue voice commands to play music, control smart home devices like thermostats and lightbulbs, and hear reminders.

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The HomePod’s sound quality was generally well-received among critics, but Siri has taken a hit for failing to provide the many skills users would find in the Alexa-equipped Amazon Echo or Google Assistant-ready Google Home.

Still, Apple’s ability to capture a small slice of the smart speaker market so soon after the HomePod’s release is impressive. Amazon’s Echo has been on store shelves for years, and Google Home was released in late 2016, giving both devices a major head start.

In addition to analyzing market share, Loup Ventures asked respondents how satisfied they are with their smart speakers. According to the company, 30% of those respondents said that they are “very satisfied” and 59% report being “satisfied” with their hardware.

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