Amazon


AMZN

has unveiled Echo Show 15 in a bid to expand its portfolio of smart speakers and smart displays.

Echo Show 15 consists of a 15.6-inch screen with a 1080p Full HD display, Amazon AZ2 Neural Edge processor, upgraded home screen, customized options, visual ID feature and more Alexa experiences. Additionally, it has a rotating feature and can be placed in any area or mounted on a wall.

With Alexa widgets and an updated home screen, the device helps users track packages as well as manage calendars, to-do lists, reminders, and more. The device has a 5-megapixel camera that allows users to enjoy video calls.

It also lets users stream music, watch movies and television shows from Prime Video, Netflix, Hulu, catch up on news from ABC, NBC News NOW, and CBS News as well as read Audible books.

With the Echo Show 15 launch, Amazon strives to provide an enhanced experience to users looking for smart home devices as it lets them stay organized, connected and entertained.

All these attractive features are expected to boost the adoption rate of the device.

Market Prospects

With the recent move, Amazon has positioned itself well to expand its presence in the booming smart speaker market.

Smart speakers control various smart home devices such as smart TVs, thermostats, smart lights, smart locks, security cameras and smart kitchen appliances. Thus, the growing adoption of these devices is driving the smart speaker market.

The demand for smart speakers is continuously rising as they support video calling, watching online content and social networking. This is propelling the smart speaker market and leading to the smart display market growth.

According to a

report

by Research and Markets, the global smart speakers market is expected to hit $17.85 billion in 2025 from $6.98 billion in 2021, progressing at a CAGR of 26%.

Also, a Counterpoint

report

suggests that global smart speaker shipments are likely to witness a CAGR of 21% during the 2020-2025 period.

Further, a

report

by Allied Market Research reveals that the smart display market is expected to hit $18.25 billion by 2028, witnessing a CAGR of 21.6% during the forecast period of 2021-2028.

In addition, a

report

by ReportLinker indicates that the global smart display market size is likely to hit $15.1 billion by 2027, registering a CAGR of 22.1% between 2021 and 2027.

Competitive Scenario

Given this upbeat scenario, not only Amazon but also other organizations including

Alphabet

’s

GOOGL

Google,

Apple


AAPL

,

Lenovo


LNVGY

and LG Display are making strong efforts to capitalize on the abovementioned prospects.

Google offers powerful smart displays with Nest Hub and Nest Hub Max. The company’s recent introduction of an Air Quality feature to provide an enhanced experience to Google Nest Hub users remains noteworthy.

Meanwhile, Apple smart speakers namely HomePod and HomePod mini offer high-quality audio as well as adapt to their location. The speakers are compatible with smart home accessories and control them with the Siri virtual assistant.

Lenovo smart display provides an improved visual experience to users. It is enabled with Google Assistant and designed for smart home applications.

Further, LG offers Google Assistant-enabled smart display. The company’s Xboom AI ThinQ WK9 smart display with Meridian Audio’s advanced technologies holds promise.

Nevertheless, the launch of Echo Show 15 is expected to help Amazon — which currently carries a Zacks Rank #3 (Hold) — in gaining a competitive edge over peers. You can see


the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here


.

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