In Just A Few Years It Is Projected That Half Of U.S. Will Have Smart Speakers. And They Will Serve As The Center Of Our Connected Life.
Tech companies are anticipating that the future of computing will be backed by voice. This early phase of adoption can have a significant effect on future revenues.
Voice Assistants like Siri and Alexa will transform behavior inside the home. At the center of that behavior is a smart speaker, serving as the hub of a connected lifestyle.
U.S adoption of smart speakers is at 25% and is expected to reach 55% by 2022. China jumped from almost nothing to 30% in the span of a year. Amazon has a two-year head start in this sector and has managed to build up a loyal customer base.
Google, Apple, and other companies are trying their hardest to catch up. Apple, very surprisingly, slashed the prices on its HomePod smart speaker. Google, on the other hand, came up with a budget-friendly version of its smart speaker for budget-conscious customers. It also partnered with Spotify and offered free Home Minis for Spotify Premium customers.
Amazon faced a 10% loss last year and Google’s strategies accounted for over half of it. While we are still in the early stages, companies are working hard to grab the market.
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