Google’s Home Hub may retail at $149
Google’s (GOOGL) regulatory filings cited by 9to5Google suggest the company may be preparing to release a smart speaker with a display at its upcoming October 9 hardware event. Some believe the Google smart speaker with display will be called the Home Hub and will retail at $149.
Google currently has fewer product varieties than Amazon (AMZN) in the smart speaker market. Launching a smart speaker with a display could see Google match Amazon, which last year launched the Echo Show, a version of its Echo smart speaker that comes with a screen that can be used for watching videos. The Echo Show retails for $230.
$11.8 billion revenue opportunity
Google, Amazon, Apple, and others are chasing the $2.7 billion revenue opportunity in the global smart speaker market this year, according to MarketsandMarkets. The global market for smart speakers is expanding at a rate of 34.4% every year and is on track to hit $11.8 billion by 2023.
Yandex (YNDX) is also vying for revenue in the smart speaker market. Its smart speaker product, Station, went on sale in July in Moscow, Russia.
Total of 11.7 million smart speakers shipped globally
Some 11.7 million smart speakers were shipped globally in the second quarter, with Amazon leading with a shipment of 4.8 million units, according to Strategy Analytics. Google came in second, shipping 3.2 million units in the quarter.