12 Apr

How Smart Speaker Competition Is Heating Up

WRITTEN BY Sanmit Amin

Google launched its smart speaker in India

Alphabet’s (GOOGL) Google has finally launched its smart speakers (Google Home and Google Home Mini) and its smartphones (Pixel 2 and Pixel 2 XL) in India.

Google Home is priced at 9,999 Indian rupees (or $153), while Google Home Mini costs 4,499 Indian rupees (or $69). They will be available online through Amazon’s (AMZN) local competitor Flipkart and offline in certain retail stores.

Amazon, Google’s competitor in the smart speaker segment, introduced its smart speaker Echo and its variants in India in October 2017.

How Smart Speaker Competition Is Heating Up

Smart speakers have a large scope in India

Amazon has been investing a lot of money in India, which has more than 1.2 billion people. It’s competing with local rival Flipkart, backed by Chinese technology giant Tencent (TCEHY).

Smart speakers, powered by digital assistants such as Alexa, could be an integral part of a connected home in the future with a possible huge potential. According to estimates by MarketsandMarkets, the smart speaker market is currently valued at $2.7 billion and is expected to grow to $11.8 billion by 2023. That represents a CAGR (compound annual growth rate) of 34.4% between 2018 and 2023.

Amazon and Google have launched their smart speakers in India, the second-most-populous country in the world with a rising middle-class income.

Be sure to check out all the data we’ve added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data, as well as dividend information. Take a look!

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