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Technology Stocks : Investing in Exponential Growth
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From: Paul H. Christiansen10/5/2016 3:11:15 AM
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Alexa, How Big Will The Personal Assistant Device Market Get?

One day before Alphabet-owned Google is expected to announce a smart speaker with a virtual personal assistant, research firm Gartner predicted the market for such devices will reach over $2 billion in sales in 2020.

Google on Tuesday is widely expected to unveil a device to compete with Amazon.com's popular Echo speaker. Google Home reportedly will cost $129, which is $50 less than Amazon Echo.

Amazon Echo allows users to speak questions out loud and get voice responses. Using Amazon's Alexa personal assistant software, people can get news, sports scores, weather and other information using spoken requests. Echo users also can control music playback as well as smart lighting, switches and thermostats with their voice.

"The widespread adoption and proliferation of VPA speakers could result in a significant number of online shopping orders in the home being initiated from a VPA speaker, rather than a laptop or mobile device," Gartner analyst Werner Goertz said in a statement.

One of the key applications for Amazon Echo is for users to purchase products with voice commands. For instance, Echo owners can say, "Alexa, re-order paper towels" and the purchase is made.

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