Providing Market Intelligence for 40 Years

In The News

Parks Associates: Smart Home Sales to Hit $12.6B in 2027

Parks Associates’ new research report has unveiled a promising outlook for the smart home market, projecting an annual revenue of $12.6 billion in 2027 for core smart home product categories. The Interoperability & Generative AI: Next Generation Smart Home UI report explores this trend and the potential impact of two significant disruptors in the industry: the Matter standard and generative AI.

“As new brands and device categories flood the market with more options, they can exacerbate the challenges of integrating and creating a seamless smart home experience,” said Jennifer Kent, VP of Research at Parks Associates.

Two significant disruptors are poised to shape the future of the smart home market. The first is the Matter standard, introduced in 2021 by the Connectivity Standards Alliance (CSA). Matter aims to break down the barriers between various technology ecosystems, promoting interoperability and simplifying the integration of smart home devices. This standard has the potential to bring about a more cohesive and user-friendly smart home environment.

The second disruptor, generative AI, holds the promise of elevating the smart home experience to new heights. Beyond merely controlling devices, generative AI can enhance voice interactions and simplify the navigation of complex smart home setups. “By increasing the value proposition in smart home experiences, the industry adds to the current and future revenue potential in smart home and security solutions,” added Kent.

The Interoperability & Generative AI: Next Generation Smart Home UI research report also delves into consumer preferences for smart home control and user interfaces. Understanding what consumers desire in terms of ease of control and usability is crucial for industry stakeholders aiming to cater to their evolving needs.

From the article, "Parks Associates: Smart Home Sales to Hit $12.6B in 2027" from Twice

 

Previously In The News

Where Is 8K Going After CES?

The wider Smart Home business is also finding an audience. The category is expected to grow 41 per cent YoY in the US, to 40.8 million units in 2018, earning $4.5 billion. According to smart energy re...

Global Mobile Data Revenue Expected To Reach $630 Billion By 2020

An industry report by Parks Associates has estimated global mobile data revenue will rise from $368 billion in 2015 to $630 billion by 2020. The internationally-recognised consulting firm claims th...

This Market Could Grow 33% A Year For The Next Decade

But it's the move into healthcare that's the most exciting. You see, right now, digital healthcare and wearapeutics is a "small" market, worth about $5.7 billion in 2015, according to IoT marketing...

Hulu Is Slowing, Hits 12 Million Subscribers Versus Netflix’s 81 Million

But growing membership is harder to keep up at the same clip for all streaming services, as more and more companies launch their own online platforms. As consumers shift more of their entertainment di...

Phone:
972-490-1113
Mailing Address:
2301 West Plano Parkway, Suite 210, Plano, TX 75075
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Connectivity and Mobility Small-to-medium Business (SMB) MDU
Services
Research Memberships Visibility Memberships Streaming Video Tracker Smart Home and Security Tracker Broadband Market Tracker Channel Analytics
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces
Resources
Press Releases Analyst Blog Parks in the News
Store
View Your Cart
About Us
Overview Team Contact Us Privacy Policy

Follow:

© 2023-2026 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive