The adoption of technologies such as Alexa and Google voice assistant are expected to play a key role in the development and adoption of smart homes.
By 2023, approximately 275 million voice assistant devices are expected to be used to control smart homes, up from 25 million in 2018 (1,000% growth)
Study findings and predictions:
- Amazon leads the market with its loss-leading strategy, with hardware products tied to a comprehensive product and service ecosystem
- Google to remain a distant second in the space – its Nest brand incurred a $621 million loss in 2017
- Voice assistants are central to connected appliances. Assistant and connected appliances’ integration are expected to drive an 80% increase in shipments of connected appliances per annum through to 2023 as the cost of appliances declines by 52% between 2018 and 2023 to $280 globally.
Research Author Nick Maynard explained: “Current AI capabilities coupled with routines means that Google’s greater AI investment will not displace Amazon’s lead. To compete effectively, Google must enhance the quality of its ecosystem.”