Amazon still dominates the smart speaker market - but the competition is closing in

When Amazon debuted its Echo smart speaker, it wasn't immediately clear the device would be a mainstream hit. But that's what it's become. Three years later, the Echo has become so popular that Amazon now offers a whole collection of smart speaker models, and the devices consistently rank among the top-selling products in its online store.

But even though Amazon dominates the smart speaker market, it's starting to get some serious competition, as this chart from Statista - based on data from Strategy Analytics - indicates. And more competitors have just arrived, or are on the way. Connected speaker company Sonos recently launched its own smart speaker, and Apple's HomePod is due out early next year.

Mike Nudelman/Business Insider

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