- December 22, 2021
- Posted by: Stratford Team
- Category: Business
Given how Apple (NASDAQ:AAPL) quickly become a major player in the headphone business after it launched its first AirPods in late 2016, investors likely hoped the tech giant would be able to pull off a similar quick success when it entered the fast-growing smart speaker market in 2018. But the tech company’s smart speaker products haven’t been as well-received.
Fortunately, however, Apple finally seems to be gaining some meaningful traction in the market — enough for investors to start thinking about how the product line could potentially morph into a meaningful growth driver for the company.
Image source: Apple.
Market share gains
According to recently published data from market research firm Strategy Analytics, Apple has been snapping up lots of market share this year. While overall smart speaker and smart display market shipments grew an estimated 10% year over year in the third quarter of 2021, Apple’s…
