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"
Google Assistant, along with other voice-control platforms like Amazon Alexa and Apple Siri, is gaining steam as a smart home control solution. According to a study by Parks Associates, consumer adopt...
According to Parks Associates, more the 12 million households will have a smart water leak detector, more than 40 million will have a smart thermostat, nearly 50 million will have a smart light bulb,...
In-home broadband has become "the fourth utility" in United States households, many of which have multiple connected devices and viewing screens. More than 85 percent of U.S. homes have broadband serv...
A recent Parks Associates market snapshot noted the explosion of smart home services, with more than one-quarter of U.S. broadband households reporting to own at least one connected device, a number s...
