Tech research firm eMarketer is predicting dramatic growth in the US smart speaker market, anticipating that it will overtake wearables like smart watches at some point this year …
Business Insider has seen the report.
According to eMarketer’s latest forecast, the number of US smart speaker users will rise at a compound annual growth rate (CAGR) of 47.9% between 2016 and 2020, from 16 million to 76.5 million.
eMarketer’s new data shows stronger-than-expected adoption of the device. Uptake has been so strong that the number of adult smart speaker users will surpass that of wearable users for the first time this year.
Smart speakers are still boys’ toys for the most part, an affluent, older, millenial male the typical user. But use by women is growing.
eMarketer says Amazon dominates the market, Echo devices accounting for two-thirds of all US sales. Google Home takes home 29.5%, while Apple’s HomePod is within the 8.3% left for other brands. A recent report did, however, suggest that Google is quickly gaining ground, and actually outsold Echo for the first time in Q1 of this year.