The Smart Speaker Segment Is a Potential Investment Goldmine The smart speaker segment has the top three tech giants competing for dominance, making it a great field to invest in.
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Consistent success in investing and stock trading can only come with identifying new opportunities. The technology sector is full of potential breakthroughs. Apart from AR/VR and autonomous driving, the smart speaker segment could be one of the most promising areas of development, and there are three stock tech stocks in this segment for you to invest in. Amazon.com ($AMZN) started it all with the Echo powered by the Alexa virtual assistant. Other tech companies have followedsuit, and though the smart speaker is still a bit of a novelty, it could soon be mainstay in a majority of households in the United States and globally. According to Global Market Insights, smart speaker market growth could reach $13 billion as 2024 rolls along. It predicts more than 100 million units could be sold by then. The potential for these devices is huge since though they are smart speakers, they are actually much more than that. Apart from streaming music from different sources, these speakers can ensure the smooth functioning of home automation systems by accepting voice commands with their inbuilt far-field microphones. The greater potential lies in the virtual assistants in these speakers that are also powered by artificial intelligence (AI). This equips them for a range of useful and indispensable tasks. Along with Amazon, Apple ($AAPL) and Alphabet ($GOOGL, $GOOG) are in this smart speaker segment for the long haul.
Amazon Echo $AMZN certainly got the head-start with Echo and, since there weren’t any competitors when it started out, has become the major force in this segment currently. It has done a significant amount of development into this. At a significantly early stage, it released a skills kit for developers so they could incorporate voice commands. As a result of all that early development, there are over 15,000 apps that now integrate with Echo. According to Consumer www.tradezero.co
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Intelligence Research Partners (CIRP), 10.7 million Amazon American customers have purchased the device since it was released in 2014. The Echo line-up includes more than just the speaker, other devices too are there that help users experience other services such as Amazon Prime Video and video chatting. The Echo device family has also been used by customers to order Amazon products from its website, which helps bring in additional sales and revenue for the tech and retail giant that, according to experts, could be worth $10 billion by 2020.
Google Home Though Amazon Echo has secured the head-start in the smart speaker segment, Google’s version, Google Home, also has a few aces up its sleeve. Remember, Google led the way in artificial intelligence even before Amazon and others got a hang of it. That advantage makes its way to the Google Home speaker, and its superior voice recognition enables it to recognize and differentiate between a household’s 6 different users. Google’s legendary search capability makes its way here too. Unlike Echo, Google Home is not limited by specific commands and can therefore respond to just about any request. With its great search capability, it can answer just about any question, and tests conducted have revealed Google Home can answer more questions than Amazon Echo, which gives the former a significant advantage.
Apple HomePod Apple may be late to the party, but that’s how it goes about its business. It takes its time in researching a new technology market and coming up with a high-end product. But once it does, it loads it with enough desirability to rule the market. Apple’s HomePod will only be available to consumers in December, but the company is packing it with some great musical capabilities. To ensure awesome www.tradezero.co
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music delivery, the HomePod is equipped with seven beam-forming tweeters and a woofer facing upwards. It is also equipped with room-sensing technology that ensures the speaker has a spatial awareness of the room and optimizes the sound output accordingly. It can also balance and detect multiple speakers. Apple has a very competitive virtual assistant Siri, and that makes its way to the HomePod. It will provide news and sports updates, and check weather. It also controls the smart home accessories integrating with its HomeKit. If Apple takes its time, it does get a solid job done, coming up with a compelling and highly capable product. Amazon, Google and Apple are all looking to dominate the arena, making the smart speaker segment quite an investing hotbed.
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