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94% of smart speakers used today are from Amazon or Google

More than two-thirds of owners of the Amazon Echo or the Google Home plan to buy another smart speaker in the next six months, according to Strategy Analytics.

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Building a slide deck, pitch, or presentation? Here are the big takeaways:
  • The Amazon Echo and Google Home dominate the smart speaker market, accounting for 94% of all smart speakers in use. --Strategy Analytics
  • 75% of Amazon smart speaker owners said they would choose another Amazon speaker, and 69% of Google owners said they would choose another Google product. --Strategy Analytics

Amazon and Google continue to dominate the smart speaker market, with the Echo and Home accounting for 94% of all smart speakers currently in use, according to a new report from Strategy Analytics--making it increasingly difficult for competitors to break into the space.

The report surveyed 943 Android smartphone users. It found that more than two-thirds of owners of an Amazon Echo or a Google Home--compared to one quarter of all respondents--planned to purchase another smart speaker in the coming six months.

Further, loyalty to each brand appeared to be high: 75% of Amazon smart speaker owners said they would choose another Amazon speaker, and 69% of Google owners said they would choose another Google product, the report found.

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"The early runners in the fast-growing smart speaker market look set to dominate for some time," David Mercer, principal analyst at Strategy Analytics and author of the report, said in a press release. "High customer satisfaction levels and the possibility of platform 'lock-in' will make it challenging for competitor platforms to carve out significant market share in the near term."

Of all respondents, 24% said they already own one smart speaker.

While Amazon and Google take the top slots, it's important to note that Amazon's Alexa clearly dominates in terms of reach: As of June 2017, Alexa had 15,069 skills, compared to just 378 for Google Assistant and 65 for Microsoft Cortana. However, other reports note that Google Assistant may be more powerful than Alexa, due to its data and artificial intelligence (AI) capabilities.

"At this early stage it appears that Amazon and Google are successfully meeting customer needs, in spite of adopting contrasting strategies," David Watkins, director of Strategy Analytics' smart speakers service, said in the release. "This is good and bad news for competitors: it will be tough to dislodge Amazon and Google; but new approaches to smart speaker design and user experience can help win over new customers."

SEE: Survey: Are you using digital assistants or other smart tech for work?

Companies considering adopting smart speaker technology should probably choose an offering from Amazon or Google, as these platforms will likely see the most innovation in the coming years. And if a firm wants to develop a skill or tool, these are the two platforms they should do it on, due to their widespread use among consumers and enterprises.

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