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"
The Europe market was identified as “different and complex” compared to the US, in which adoption and use cases differs greatly – as noted by Amit Kroll from Assa Abloy on day one of the conference; “...
The market for fitness trackers seems saturated; Fitbit announced plans this week to lay off off 6 percent of its workforce. But Harry Wang, senior director of Research at Parks Associates, said newco...
Smart-home devices could be starting to take off. Parks Associates said last month that about 26 percent of U.S. homes that have high-speed Internet connection also had a smart-home device in 2016, co...
“Our computer vision systems are now even better than humans,” Pichai told a crowd of 7,000 people at the Shoreline Amphitheatre during his keynote speech Wednesday morning at Google I/O, the company’...
