I've been waiting for the Amazon Echo equivalent from either Apple or Google but if I'm honest, I think Google can offer much more functionality considering how pervasive their services are. I see and hear all this love for the Echo but I'm just not a big fan. I picked up the Echo Dot and it barely gets used in our house. I'm a longtime Amazon user, have had Prime for years but I just don't see what's so great. The voice commands have to be very specific---if you don't know the correct phrasing or syntax of the action, it often fails. You have to learn what commands will work from a constantly updating list. For example, asking the results of a sport event has to be worded just right or Alexa comes back with 'I don't understand'.
And as far as setting timers or alarms...Siri or Google Now work just great for that already. Voice Purchasing is only useful if you regularly order the same items. I don't use Amazon Music or Spotify so that functionality is limited. Traffic updates need to have a preset destination address added to your Alexa app. I listen to the Audible recordings integrated into the Kindle books I purchase but progress isn't synced to the Echo from other devices so it can't pick up where I left off on my phone and vice versa. She's not very good at general research questions either. Maybe if I had a bunch of compatible smart home functionality I'd find it more useful.
I just find Siri or Google Now already more capable and if either Google or Apple offer an alternative that tie into their ecosystems and a centralized Home type hub, I think either would be far more compelling.