Amazon vs. Google: The Battle for Smart Speaker Market Share
To see the full resolution version of this infographic that has higher legibility, click here.
Steve Rabuchin, the VP of Amazon Alexa, has a vision. He dreams of customers having a conversation – not just with voice-enabled devices like the Amazon Echo, but with appliances, cars, and everything in between.
Though that dream may not be realized in the short term, sales of smart speakers are increasing as people warm up to the idea of using voice-assisted devices in their homes.
Today’s infographic, from Raconteur, sheds light on the fight for smart speaker market share, how early adopters are using the devices, and the growing array of voice-enabled devices currently on the market.
Moving into the Mainstream
When the Amazon Echo entered the market in 2015, it kicked off a new wave of demand for voice-activated smart speakers. At the time, it was unclear whether a large segment of the population would use a smart speaker, but consecutive years of rising sales are putting those worries to rest.
A recent study from Juniper Research found that smart speakers such as Amazon Echo, Google Home, and the Sonos One will be installed in over 70 million U.S. households by 2022, reaching 55% of all homes.
The recent flurry of holiday device buying seems to support this prediction. Smart speaker sales in the U.S. rose sharply to nearly 25 million in 2017, with close to 11 million purchased during the holiday season. Thanks to lower price points and wider distribution, this trend will likely continue through 2018 and beyond.
Competition is Heating Up
Amazon’s first-mover advantage resulted in an imposing 94% market share by Q3 2016 – but since then, Google Home has been eating into that lead. Experts predict that Echo will remain the top smart speaker in the future, but that Google and Chinese brands like JD and Xiaomi will continue to grow in popularity.
The two tech giants are fighting hard for the early majority because smart speakers are such a powerful gateway into their ecosystem of services and data collection.
Perhaps anticipating a binary market, Sonos is looking to win by taking a slightly different approach. Since the company is doesn’t have an existing suite of consumer services, it’s shipping devices with Alexa integration and opening up the platform to developers (think voice-activated apps). Customers who are suspicious of ulterior motives and integration limitations of the larger brands may gravitate toward a more open, agnostic approach.
You have no idea what people are going to build. When Apple opened iOS, the first thing people made was the fart app.
– Antoine Leblond, VP of Software Development at Sonos
To add even more excitement to the race for market share dominance, Apple is launching a smart speaker called HomePod in early 2018.
The Path to IoT is Voice Enabled
For now, smart speakers are primarily a fancy way to people to stream music or get tomorrow’s weather forecast, but they are a critical first step in the impending shift toward the “connected home”.
Most people don’t currently live in a place that supports full-on integration with smart speakers, but once they begin using voice-enabled devices, they are more likely to take smaller steps such as rewiring light switches.
The shift towards smart homes is predicted to generate a lot of revenue in coming years – and companies like Amazon and Google see smart speakers as a foot-in-the-door. If trends continue, these tech giants stand a good chance of taking over as the nerve center for peoples’ homes as an IoT-driven future unfolds.
33 years after the debut of The Clapper, tech companies have found a better (and far more profitable) hands-free way to turn the lights out.
Charted: What are Retail Investors Interested in Buying in 2023?
What key themes and strategies are retail investors looking at for the rest of 2023? Preview: AI is a popular choice.
Charted: Retail Investors’ Top Picks for 2023
U.S. retail investors, enticed by a brief pause in the interest rate cycle, came roaring back in the early summer. But what are their investment priorities for the second half of 2023?
We visualized the data from Public’s 2023 Retail Investor Report, which surveyed 1,005 retail investors on their platform, asking “which investment strategy or themes are you interested in as part of your overall investment strategy?”
Survey respondents ticked all the options that applied to them, thus their response percentages do not sum to 100%.
Where Are Retail Investors Putting Their Money?
By far the most popular strategy for retail investors is dividend investing with 50% of the respondents selecting it as something they’re interested in.
Dividends can help supplement incomes and come with tax benefits (especially for lower income investors or if the dividend is paid out into a tax-deferred account), and can be a popular choice during more inflationary times.
|Investment Strategy||Percent of Respondents|
|Total Stock Market Index||36%|
|Gold & Precious Metals||23%|
Meanwhile, the hype around AI hasn’t faded, with 36% of the respondents saying they’d be interested in investing in the theme—including juggernaut chipmaker Nvidia. This is tied for second place with Total Stock Market Index investing.
Treasury Bills (30%) represent the safety anchoring of the portfolio but the ongoing climate crisis is also on investors’ minds with Renewable Energy (33%) and EVs (27%) scoring fairly high on the interest list.
Commodities and Inflation-Protection stocks on the other hand have fallen out of favor.
Come on Barbie, Let’s Go Party…
Another interesting takeaway pulled from the survey is how conversations about prevailing companies—or the buzz around them—are influencing trades. The platform found that public investors in Mattel increased 6.6 times after the success of the ‘Barbie’ movie.
Bud Light also saw a 1.5x increase in retail investors, despite receiving negative attention from their fans after the company did a beer promotion campaign with trans influencer Dylan Mulvaney.
Given the origin story of a large chunk of American retail investors revolves around GameStop and AMC, these insights aren’t new, but they do reveal a persisting trend.
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