There’s no denying that technology has transformed our personal and professional lives. It has enabled service providers like Spectrum Cables to upgrade their infrastructure for any old or any Spectrum new service. Tech tools such as smart home solutions have offered greater convenience and comfort. The widespread availability of Internet of Things (IoT) devices has changed the way people live and work.
Smart home appliances such as smart speakers are continuing to offer tremendous benefits to users. The smart speaker industry has grown by leaps and bounds in recent years. More and more companies have entered the market to provide smart and innovative solutions to customers. That said, here’s what you need to know about the ever-expanding smart speaker industry:
The United States Is the Biggest Market for Smart Speakers
There’s no denying that the U.S. is one of the most advanced and developed countries in the world. It is probably one of the biggest markets for smart home solution providers. The Global Market Insights expects the global smart speaker market share to reach $30 billion within the next two years (https://www.gminsights.com/industry-analysis/smart-speaker-market). This shows how fast the smart speaker industry is growing with each passing day.
More than 30% of households in the U.S. have access to a smart speaker. This percentage is expected to increase in the future. More and more people are starting to prefer smart homes to traditional homes. The growing penetration of home automation has prompted many new startups into the picture. In addition to established companies, new entrants have introduced smart and innovative home solutions.
Amazon Currently Dominates the Global Smart Speaker Market
Apple may be the most valuable tech company in the world but Amazon has the largest smart speaker market share. The retail giant dominates the global smart speaker market, accounting for nearly 69% of the devices sold during the last five years (https://www.geekwire.com/2021/amazon-maintains-big-lead-google-apple-u-s-smart-speaker-market-new-study-says/). Its Echo line of smart speakers continues to remain the most popular smart speaker on the market.
Meanwhile, smart speakers like Apple HomePod and Google Home continue to surge slowly. According to the Consumer Intelligence Research Partners (CIRP), the market share for Apple HomePod was 5% and that of Google Home was 25% as of June 2021 (https://www.geekwire.com/2021/amazon-maintains-big-lead-google-apple-u-s-smart-speaker-market-new-study-says/). It is worth mentioning that Amazon launched Echo in 2014. Google Home, on the other hand, arrived on the market in 2017.
Smart Speakers Are Among the Most Popular Home Automation Solutions
The advent of Amazon Echo in the mid-2010s breathed new life into smart home solutions. Smart speakers such as Echo and Home disrupted the voice-search industry. The allowed users to communicate with the technology in ways never seen before. Most of us had seen the technology in sci-fi movies such as Star Wars but 2014 was probably the first time humans started to speak to technology directly.
The success of Amazon Echo prompted companies like Google and Apple to introduce their versions of the smart speakers. Google came up with Google Home in 2017. Apple, on the other hand, released the HomePod a year later. These products came with new features and upgrades that weren’t part of Amazon’s original line of smart speakers.
Some Frequently Asked Questions
What Are the Features of a Smart Speaker?
A smart speaker is a device that is activated via voice command. It has a built-in virtual assistant that can perform multiple functions. For instance, Amazon’s Echo can play music, set alarms, stream podcasts, and perform many other tasks. Smart speakers are designed to provide comfort and convenience. Perhaps the best thing about a smart speaker is that it can control multiple IoT devices.
What Are the Benefits of a Smart Speaker?
The demand and popularity of smart speakers continue to grow. These devices are often considered the core of a smart home. They can also act as standalone devices. That means you don’t necessarily need to have a smart home to make Echo or Siri perform certain tasks. That said, here are several benefits of having a smart speaker in your house:
Smart speakers can act as security tools. Most smart speakers come with built-in security features such as intruder alerts. Moreover, they seamlessly integrate with smart devices like smartphones and tablets. That means you can receive notifications on multiple devices when they are connected to your smart speaker.
Perhaps the biggest benefit of having a smart speaker is that it offers convenience. Smart speakers such as Echo and Home can provide you with greater control over certain tasks. You can control your room temperature, lights, and manage your home’s security with voice commands.
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