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There will be nearly 500 million smart speakers in the US by 2024…

There will be nearly 500 million smart speakers in the US by 2024…

Smart speakers have become synonymous with the smart home, and the voice-first device’s growth will continue into the next decade — albeit at a slowing pace — as the speakers continue to orchestrate people’s increasingly connected lives. Business Insider Intelligence expects that the total smart speaker installed base in the US will reach nearly 500 million devices by 2024, up from almost 120 million at the start of 2019. Devices powered by Amazon’s Alexa AI voice assistant will make up the largest proportion of these devices, though Google Assistant-powered devices will keep pace in shipments. Other market entrants — like Samsung’s Bixby-powered Galaxy Home and its yet-to-be-released follow-ups, as well as Apple’s HomePod — will only sell in limited numbers, and are too far behind the exploding market to challenge the pair of dominant platforms.

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But the growth rate of smart speakers will taper off in the coming years — especially for Alexa-powered speakers — due to the evolving variety of voice assistant-enabled devices. The standalone smart speaker will continue to be a hub device for homes, but many of the premium devices sold will be multipurpose speakers, more along the lines of the Amazon Echo Plus, Echo Show, or the Google Home Hub than the base Echo or Google Home. And while consumers will likely continue to purchase cheaper devices like the Echo Dot — and upgrade their existing ones — more and more of these devices will be replaced by connected things around the house, such as clocks and lamps with built-in microphones. Both Amazon and Google are emphasizing their respective partner programs, which will help to spread their voice assistants more widely while limiting the extent to which they need to depart from their comfort zones and build hardware for the consumer market.

Posted on: March 12, 2019, 6:58 am Category: Uncategorized