Parks Associates’ new white paper, Video at the Door: Driving New Revenues, developed in partnership with Xailient, estimates that smart video devices generated $1.3 billion in stand-alone service revenues in 2023 and projects service revenue will grow to $2.4 billion by 2027.
“Due to this growing consumer demand for smarter, more comprehensive video coverage and analytics, manufacturers are integrating video into other form factors, including flood lights, door locks, garage control systems, and vehicle dashboards,” said Jennifer Kent, VP, Research, Parks Associates. “The next step is to integrate these capabilities across devices, to deliver a high-quality experience to the consumer.”
“Many consumers already use facial recognition as an authentication and unlocking mechanism on their smartphone, so smart device manufacturers need to be prepared for consumers to raise their expectations of receiving similar conveniences in other product categories,” Kent said.
From the securityworld.com article, "Domestic smart video market set to almost double by 2027"
A new report from Parks Associates says that 32% of people who own smart tags say they use the device to track another person’s location without that person even knowing they’re being tracked. “The...
What does all of this mean for your business, customer support agents, and your clients? The innovation that is happening with visual and augmented support is still just beginning, but when you look a...
Parks Associates revealed that 27% of U.S. car owners would connected cars to communicate with the Internet-connected devices in their home, such as smart garage door openers and door sensors. Park...
Smart-home technology is building quickly to a multi-billion-dollar business in Western Europe, say market researchers at Parks Associates, and the Malvern-based "Internet of Things" platform develope...
