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"
“Services are experimenting with a variety of business models in order to differentiate themselves in this crowded market dominated by Netflix, Hulu, and Amazon. Smaller OTT companies are experimentin...
Even with solid growth from Apple TV last year, research firm Parks Associates estimated it to be fourth behind Google, Amazon, and Roku in streaming device sales last year. Of the 42 million streamin...
Data from Parks Associates shows that US consumers prefer retailer-based options to general-purpose mobile wallets. These platforms can attract tremendous popularity — Starbucks now processes 25% of i...
Attracting developers to an Alloy ecosystem is important to Intel, said Barbara Kraus, director of research at Parks Associates. "It will broaden the content available to the platform. Intel doesn'...
