Smart speakers have been around for a few years now, and we have to give Amazon credit for kind of kicking it off. While digital assistants aren’t new, Amazon made a very smart move early on by opening up Alexa to third-party developers, thus allowing them to flood the market with smart speakers.
As a result, it’s not surprising that Amazon is currently dominating the smart speaker market where according to the figures from eMarketer, Amazon currently owns 69.7% of the smart speaker market. It’s such a massive lead and in second place is Google, who currently controls 31.7% of the market, while “others” (which presumably includes the likes of Apple) is at 18.4%.
Like we said, Amazon’s strategy with Alexa early on definitely helped them gain control of the market, plus with affordable devices like the Echo Dot, it allowed them to capture a lot of market share very early on. eMarketer predicts that come 2021, Amazon’s market share will dip ever so slightly to 68.2%, but even then, it still places them well ahead of the competition.
That being said, there are rumors suggesting that Apple could have a cheaper HomePod in the works. Whether or not that will do them any favors remains to be seen as the current HomePod doesn’t seem to have done all that well.