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

'Smart cities' can improve individual and community-wide health, but pulling it off is no easy feat

In some ways, individuals are already taking the first steps toward these types of connected ecosystems with the adoption of consumer smart home devices such as connected thermostats, fitness trackers...

HBO Max: WarnerMedia in Talks With Roku on Deal, Amazon Fire TV Appears to Be a No-Go

Beyond rev-share terms for HBO Max, holdouts like Roku and Amazon — which together had 69% market share of U.S. OTT households in early 2019, Parks Associates estimated — are objecting to WarnerMedia’...

Has the Pullback of Roku Stock Created an Opportunity?

Even with the recent decline of Roku stock price, the shares are still not cheap, as they have a trailing price-sales multiple of 10.75. But then again, Roku stock deserves a premium, given the compan...

How Roku Morphed From a Quirky Hardware Startup to a TV Streaming Powerhouse

Roku has kept its eye on simplicity ever since that first player while also making products that often are far more affordable than those of its competition. “People underappreciate how important pric...

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