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June 3rd, 2018 at 10:49 am

Smart speakers are becoming so popular, more people will use them than wearable tech products this year

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Smart speaker users will reach 76.5 million by 2020, according to the latest eMarketer forecast.

The average smart speaker user is still an older, millennial male, but the devices are gaining traction with younger, Gen X women with kids.

Amazon Echo is the most popular, but is losing share. Google Home will likely slow Echo’s growth.

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Smart speaker adoption has been so strong, US adult users will surpass wearable users this year.

Not since the smartphone has any tech device been adopted as quickly as the smart speaker. 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.

The average smart speaker user profile is still that of an early tech-adopter: an affluent, older millennial male. But the gap is narrowing quickly as the device gains traction among other demographic groups, particularly younger Gen X women with children.

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While Amazon’s Echo — with its integrated voice assistant, Alexa — is the most popular smart speaker in the US, it is losing share as speaker rivalry heats up. Google Home is second, and its launch of a lower-cost model in late 2017 will likely help it gain share from Amazon. Meanwhile, Apple’s Home Pod has yet to make a dent in the market, mainly because of its high price tag.

Though smart speakers will drive most of the growth in the US voice assistant market through 2020, they are hardly the only device with voice command capabilities. Consumers are still most likely to use voice assistants on smartphones, but the technology is being integrated into other smart-home devices ranging from mirrors to lights and alarm systems.

Overall, eMarketer expects 91.0 million people, or 27.6% of the US population, to use a voice assistant via any device at least once per month in 2018.

Via Business Insider 

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