Amazon Echo and Google Home are two versions of wireless speakers that do more than play music. They are also voice-activated personal assistants. Some of their capabilities include adjusting a smart thermostat, turning lights on or off, arranging a ride through Uber, and delivering the news, sports, and weather. As prices have come down for these devices, in some cases retailing for less than $50, popularity has risen.

Today’s market size is the value of the market for voice-activated wireless speakers/personal assistants in 2015 and the projected value of the market in 2020 according to Gartner. The value of the market is expected to increase more than 5-fold in this 5-year period.

Geographic reference: World
Year: 2015 and projection for 2020
Market size: $360 million and a projected $2.1 billion respectively
Source: Ed Baig, “Google Home Plays Catch-Up to Echo, with Promise,” USA Today for the Lansing State Journal, November 6, 2016, page 6B
Original source: Gartner.