YIBADA

Smart homes to make $195 billion by 2021; Amazon Echo, Google Home the same?

| Jan 15, 2017 12:53 AM EST

Developed by Amazon.com, Amazon Echo is a smart speaker that connects to the voice-controlled intelligent personal assistant service Alexa.

In an effort to make everything smart, technology companies have began integrating their innovations into the everyday objects people use in their homes. Apple, Google, Samsung, and Amazon are the most notable tech giants currently embroiled in battle to bring their devices to the majority of consumer's homes.

The sales of the smart home devices from these companies currently add up to the billions. Sales reports indicate that this year alone, these types of device will rake in $83 billion. Their revenue is forecasted to be at around the $195 billion mark by the year 2021, according to CNET.

The Amazon Echo, which comes with the company's digital assistant Alexa, is one of the most popular home-automation devices in the market today. It performs various tasks for the user such as setting alarms, making to do lists, and streaming music from services such as Pandora and Spotify. Aside from these, it can also connect to and control other smart devices including, but not limited to the Countertop by Orange Chef as well as the Scout Alarm and Sonos.

Not allowing itself to be left behind, Google developed the Google Home but uses Google Assistant instead of Alexa. The features of Google Home are similar to those of the Echo, but since it was only released on Nov. 4, 2016, the list of the devices it can integrate to are still slim but growing.

"Home" is not Google's only foray into home-automation devices. It is worth noting that they acquired Nest back in 2014 in a deal worth around $3.2 billion, according to Wired. Nest is perhaps most well known for their smart thermostats, smoke detectors, and security systems that can be controlled by smart devices over a Wi-Fi connection.

Apple has the HomeKit, which is a set of smart home devices that include Philips Hue Wireless Dimming Lights, Elgato Eve motion sensors, and August smart locks, among others. Samsung on the other hand has SmartThings, which includes similar products just from different manufacturers such as Bose, Yale, and Honeywell, among others.

Watch an introductory video on the Amazon Echo below:

 

Related News

Most Popular

EDITOR'S PICK