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Amazon, Google and Apple Raise the Roof in Battle to Command the Smart Home

The world's largest tech companies are all vying to dominate the smart home, and when you think about what's at stake, it's not hard to figure out why.

The smart home industry already generated $43 billion in revenues in 2015 and isestimated to more than double that to $100 by 2020, according to Juniper Research. But perhaps just as significant is the ability to further embed customers in a company's ecosystems of products and services.

"If you step back and look at the Internet of Things, the smart home is [already] a realproven ground," ABI Research analyst Jonathan Collins said.

Amazon (AMZN) has been leading the pack with its Echo product family, with Alphabet (GOOG) recently jumping in with its own smart home devices, and Apple (AAPL) seemingly falling slightly behind the two.

Since introducing its connected home device powered by Alexa about two years ago, Amazon has steadily been building out the Echo's ecosystem. In September, for example, the e-commerce giant introduced a new generation of Echo Dot devices. And earlier this month, Amazon unveiled Amazon Music Unlimited with a big discount for Echo device owners. The music streaming service is priced at just $3.99 a month for Echo owners.

Google recently rolled out its own family of hardware products and software applications, including home connectivity device Google Home, voice activation services Google Assistant, GoogleWifi router and Chromecast Ultra, among others.

Alphabet and Apple are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GOOGL or AAPL? Learn more now.

Amazon and Google will find themselves competing head-to-head with many of their products: Google Home vs. Echo, and Chromecast vs. Fire TV Stick, for example.

Google, Amazon and Apple are all working to build a plethora of home...