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 recent study by Parks Associates, a technology-based marketing and research company, finds that 44% of US broadband households own speakers, 37% own headphones bought separately from a phone or musi...
Why are integrators important to Amazon? Quigley calls custom integrators “the new architects” of the smart home. He cites data from Parks Associates that even though 60 percent of consumers say th...
One chief reason for the meteoric rise in DIY competition, of course, is market penetration — read: the historical lack thereof. According to the latest Parks Associates research, 75% of U.S. househol...
Parks Associates research reveals manufacturer websites are No. 1 source for researching smart home equipment. Integrator websites are No. 2. Those are the results from new smart home research by P...
