Parks Associates recently announced a new white paper, Consumer IoT Product Development: Managing Costs, Optimizing Revenues, which provides companies with a business-planning blueprint to evaluate how a consumer IoT solution will perform across its lifetime.
“Smart home providers employ various strategies to generate value and reach profitability,” said Jennifer Kent, Vice President, Research, Parks Associates. “This involves looking beyond the initial sale to produce long-term revenue streams through subscriptions, cross-selling and upselling, and multi-sided value propositions that leverage the value of the data and benefit multiple stakeholders.”
“As companies seek long-term value and revenue from smart home devices, they must weigh the advantages and risks associated with their development strategies, and benefits offered by different types of partners,” Kent said. “Each strategic approach offers unique benefits and challenges, and understanding these is critical to building a sustainable business model.”
From the Security Today article, "Study: Video Doorbells Have a 71% Service Attach Rate"
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The study, conducted by Parks Associates on behalf of Coldwell Banker in early June, gathered opinions from 1,250 adults, 801 of whom own at least one smart home product. While survey respondents spec...
Market research and consulting company Parks Associates' 360 View: Digital Media & Connected Consumers report that claims that 29 per cent of US broadband households get most of their news from social...