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 survey by Parks Associates found that less than 15% of Apple TV users regularly engage in gaming on the device, suggesting that enhanced gaming performance isn’t a primary driver for upgrades...
Parks Associates says 6% of US households own smart lighting control systems. From the article, "How to Use Ambient Sensing in Smart Lighting for Energy Efficiency" by Mark Westlake
According to Parks Associates nearly 50 percent of the residential security market is now inclusive of some DIY or Ship-Self-Install product — a camera, doorbell, system or otherwise. From the arti...
A separate new study from market-research firm Parks Associates that used different methods and included a much larger sample size came to similar conclusions about consumers’ reaction to AI in pr...
