New data released Tuesday shows sales of smart home hardware and services are expected to hit $83 billion this year, according to market research firm Juniper. That number is expected to more than double in the next four years, rising to $195 billion by 2021.
The companies slated to lead the charge are Alphabet (Google's parent company), Amazon, Apple and Samsung, according to Juniper. The market research firm dubbed those companies the "Big Four" and said they'll "further solidify their positions" as leaders over the next few years.
Smart home hardware and services covers a gamut of categories, including entertainment, automation, health care and connected devices. The fastest-growing areas over the next five years are expected to be home automation and smart appliances, according to Juniper.
Such devices in those categories would include Google's smart speaker and assistant Google Home and Philips' Hue Wireless Dimming Kit that lets people use an app to dim their lights and turn them on and off.
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