Smart speaker market has been growing in the shadow for the last 2 years.
And then this happened.
There’s something called the law of diffusion of innovation.
And if you don’t know the law, you definitely know the terminology.
The first 2,5% of our population are innovators.
They have this crazy motivation to buy the latest iPhone or any other product right when it comes to market, because they just love to be first.
The next 13,5% of our population are our early adopters.
The next 34% are our early majority, late majority and our laggards.
“The only reason these people buy touch-tone phones is because they can't buy rotary phones anymore” — (c) Simon Sinek
The law of diffusion of innovation tells us is that if you want mass-market success or mass-market acceptance of an idea, you cannot have it until you achieve this tipping point between 15 and 18 percent market penetration, and then the system tips.
Guess where we stand with smart speakers?
For the last month we passed 10-12%.
We’re reaching the tipping point.
This is going to be awesome to watch this market unfolds 🙂