Imagine your house in 2030, you enter your house with a speech recognition passcode and a secondary facial recognition check as your smart door lock. The aircon has already been turned on as soon as you were 10 minutes away from your house in your driverless car based on your settings, so the temperature is perfect in your house as you enter from the summer heat outside. Your smart home speaker alexa greets you as you step into your smart living room, which has various pieces of smart art gallery that’s dynamic based on the day, the season and your preferences.
One large piece of art opposite to the sofa turns into a Smart TV as you sit on the sofa and fires up your most preferred channel or last viewed sitcom episode
Your robo pet (robot dog) comes to greet you and gets you popcorn from the kitchen as per your preset preferences as you continue watching your content where you left it off at the office.
ValueWalk's Raul Panganiban interviews Kirk Du Plessis, Founder and CEO of Option Alpha, and discuss Option Alpha and his general approach to investing. Q1 2021 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors. Interview with Option Alpha's Kirk Du Plessis
Today, every tech company in the world dreams of connecting their customers to their ecosystem no matter where they go and the first step to realizing this dream is the “Home smart speaker”
The global smart speaker market is estimated to be worth $23.3 billion by 2025 (Source: Allied market research) In a survey in mid-2019, it was found that Amazon still dominates it with ~70% of the US market share, followed by Google home (25%) and Apple Homepod (5%) and with Galaxy home from Samsung joining in soon, the competition is just getting started here.
The present and past of smart home speaker tech
It has been almost 5 years since the Alexa & Echo dot was announced by Amazon, but the real adoption actually started by 2018 and now it sits at 25% of US adults. Multiple companies are taking various approaches to thwart amazon and 10% of it’s dominance has been chipped away
Now, let’s look at which smart speaker you should purchase for your smart home – statistically, let’s only compare the Top two products here – Alexa’s vs Google home’s (all variants)
We believe that if used well, smart home speakers can make all the basic functions hands and screen free (music, lights, plugs, locks) and save you a lot of time and headache from menial tasks. It can also be used in setting up tasks/reminders, automating music preferences and even for habits/routines that can have a huge impact on your life if used well and with a strategy.
Here’s an infographic below to help you decide which of the Top two smart speakers and ecosystems to go for your specific needs and in building your smart home
No one can predict the future here, but one thing is for sure – these companies are just getting started in their competition and war in smart speakers and their respective ecosystems – I’d suggest you get one for your specific needs, grab your popcorn and enjoy the show with your voice and some automated music.