Amazon Owns This Growing Market

Sometimes, being first to enter a market lets a company take over a space before any of its rivals can react. That's what Amazon (NASDAQ: AMZN) has done with its Echo family of hands-free, voice-controlled speakers. The devices, which have the Alexa artificial intelligence (AI) built in, were the first of their kind, and they created what has become a growing category.

Seemingly every major company has plans to enter this space. Apple has its HomePod with Siri (which goes on sale in December), a number of companies plan to offer smart speakers using Microsoft's Cortana, and even Samsung plans to try to compete. It's a market, however, where the battle may already be down to two contestants: Amazon with its dominant Echo line and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) with Google Home.

Amazon dominates the smart speaker space. Image source: Amazon.

Source: Fool.com