Apple’s long overdue smart speaker, the HomePod, is due to release this December 2017. Anticipation is pretty high, with prospective buyers weighing the pros and cons of Apple’s product with the already existing smart speakers from Amazon and Google. It remains to be seen whether the HomePod will be able to hold its ground pitted against the other giants in the market. But, all competition aside, early analysis says that the HomePod will be pretty much a hit this holiday season.
What’s the guarantee?
Well, first of all, the HomePod is from Apple’s stables, which automatically means that a lot of interest is being generated about it. Secondly, it is being actively pitted against Apple’s own other products, like the Apple Watch. Now Apple has not ever released exact data on how well the Apple Watch is doing, specifically; however, it falls under Apple’s ‘other products’ category, and that category has been seeing a 31% increase in revenue year after year. So, it is certainly good news for Apple that buyers are showing a lot more interest in the HomePod than they did in the Apple Watch.
What’s the data?
Raymond James recently published a research report that stated that fourteen percent of the people who already own Apple products plan to buy the HomePod. This is way higher than the 6 percent of people who showed interest in buying the fist wearable Apple product, the Apple Watch. There is, however, pretty stiff competition from Amazon; at least 16 percent of iPhone users are more interested in buying the Echo, Echo Tap, or Echo Dot instead of the HomePod.
Apple is even likely to face competition from makers of non-smart speakers like Bose, with 18 percent of iPhone users claiming they would rather purchase Bose speakers. On the other hand, only 2 percent of iPhone users interviewed were interested in buying Google Home. All said and done, however, Apple does seem to come out on top of Amazon Echo. Around 19 percent of all the iPhone users interviewed expressed interest in buying either the HomPod or a Beats product.
So what’s the verdict?
The increase in the number of people that are showing interest in buying the HomePod compared to the Apple Watch is certainly a promising aspect for Apple. Apart from raking in millions of dollars in revenue, this will also bring in even greater growth for Apple’s ‘other category’. Besides, this is also a good test of Apple’s market position; while there is certainly stiff competition from Amazon’s Alexa-powered Echo, Echo Dot, and Echo Tap, not many people are interested in Google Home, the smart speaker from Google.
forecasting for apple homepod