Facebook (FB) - Get Facebook, Inc. Class A Report unveiled new smart speakers Monday called "Portal" and "Portal Plus," stepping into territory currently dominated by Amazon (AMZN) - Get Amazon.com, Inc. Report and Alphabet (GOOGL) - Get Alphabet Inc. Class A Report .
FB's new speakers come with 12-megapixel cameras that follow the user wherever the person is -- usually in a home -- as the person walks around. That means the user can video-call someone without having to sit still.
Facebook is rolling out Portal and Portal Plus at a time when demand for smart speakers is taking off. Market-research firm Statista estimates that the business will grow to $17.4 billion by 2022 from just $4.4 billion in 2017.
Amazon's Alexis smart speaker and Alphabet's Google Home device currently dominate the business. Amazon had 71.3% of the global smart-speaker market in 2017, while Google captured 14.7%, according to Strategy Analytics.
That's a high barrier of entry for Facebook, but the smart-speaker business grew by roughly 300% in 2017 and analysts widely see it as still in explosive-growth mode.
Facebook shares -- which have been crushed this year mainly because two data breaches (one involving Cambridge Analytica and another one this past September) -- didn't budge much on the smart-speaker news. The stock was up 0.2% at $157.69 shortly before 3 p.m. ET on Monday, but is down about 13% this year.