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Study: Video Doorbells Have a 71% Service Attach Rate

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" 

Previously In The News

The Smart Money: Professional Installation Gains Ground

Parks Associates projects that the U.S. smart home device market will generate $15 billion in annual sales revenue by 2029. While DIY remains the entry point for many households, Parks Associates’...

Multifamily resident access to gigabit or faster download speeds is rising

A recent Parks Associates and Cox Communities study found that more multifamily residents with home internet can get access to gigabit download speeds. In a new white paper, A Guide to Connecti...

Research: 45% of US internet homes watch FAST services

Parks Associates reports that 89 per cent of US internet households subscribe to at least one streaming service and 45 per cent watch free ad-based services. Additionally, the firm reports that...

More Cameras, Fewer Fears as Survey Reveals the New Face of Home Security

According to Parks Associates research covered by SecurityInfoWatch, pro monitoring is also gaining traction as households seek hybrid solutions that balance automation with human verification, br...

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