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"
Parks Associates believes that new health reforms from the GOP would incorporate many elements of Obamacare, but the political mess could delay implementation of new care models and disrupt the pace o...
As devices in the home connect to the Internet, they make our homes vulnerable to hackers. With Parks Associates predicting more than 50 million connected homes by 2020, it’s time for developers to ma...
Internet of Things cloud platforms offer device makers and companies the opportunity to greatly expand the value of products and services. These devices are reshaping the value chain by altering produ...
Eighty-three percent of U.S. broadband households, or more than 250 million consumers, own and use a smartphone. A recent beneficiary to this mass adoption has been the sharing economy phenomenon, whi...
