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"
Several recent studies have shown that security and privacy are top of mind for consumers considering Internet of Things devices for their homes. Parks Associates back in October noted around 40 pe...
To go a step further, Apple could embrace over-the-air antennas, whose usage is still on the rise as cable subscriptions sink. (According to Parks Associates, roughly 20 percent of U.S. homes with bro...
Other barriers for increasing adoption are concerns about security and privacy. With more reports in mainstream media about smart home devices being hacked, the public awareness of this issue has incr...
The small, candle-shaped speaker equipped with the artificial-intelligence personal helper Google Assistant, has sold about 300,000 units since hitting the market in October, according to research and...
