A new report has come out detailing how the intermingling of the wearable market and the portable speaker market could work. According to the report “Amazon and Google were willing to lose money on smart speaker sales over the holidays by discounting their hardware in order to gain market share. The reason? Smart speakers are now the fastest-growing consumer technology – faster than any other recent consumer technology, including AR, VR or wearables, according to a new report today from Canalys, which pegs smart speaker shipments to top 50 million in 2018.”
The report further stated that “Specifically, analysts expect the market to grow by 56.3 million this year, with both Amazon and Google leading the way via their Echo and Home product lines. The U.S. will also continue to be the most important market for smart speakers, the report says, with shipments expected to reach 38.4 million in 2018. China will be a distant second with 4.4 million units.The U.S. is expected to continue its lead through 2020, the report noted, thanks to a combination of factors including broadband penetration, U.S. consumers’ willingness to adopt new technologies, smart home integrations that make the speakers more useful, and the lowered price points for the hardware.”
The wearable market is something that continues to find its place in the world tech market. As more and more people find the usefulness of these devices to be crucial to day to day life, more will enter the space. The hopes are high that with the addition of new innovation and technology in the wearable space, wearable tech will be able to compensate for aspects of life that we didn’t even know we needed. As we move into the new year, these new devices will likely become better and more useful to our lives.