Global Executive Search specialists within Physical and Cyber Security Sectors.Parks Associates research, including quarterly consumer surveys, indicates networked cameras and smart video doorbells will continue steady growth due to persistent popularity and clear security use cases.
According to the findings, each device category reached 17% adoption among US internet households at the end of 2022, and combined, they will exceed $3.8 billion in sales revenue by 2027.
The international research firm will host its 27th annual Connections event next week at the Omni Frisco Hotel, to examine the revenue opportunities and integration challenges in the diverse markets comprising the connected home ecosystem. Parks Associates finds 7% of US internet households have solar power generation, 41% have a smart home device, 55% have a smart TV, 51% have a smart speaker, and 25% have professional monitored security services.
Connections features keynote speakers from Samsung Smartthings, ADT, Schneider Electric, Vivint, Electronic Caregiver, Connectivity Standards Alliance, Rapid Response Monitoring, Duke Energy Corporation, Salto Systems, Assa Abloy and Comcast.
“Video devices continue to see sustained growth, even in a tough economy,” said Jennifer Kent, VP, Research, Parks Associates. “Due to consumer interest and intense competition in the space, smart cameras are rapidly improving in quality and features, and their advanced AI features enable new use cases and revenue opportunities.”
“We look forward to welcoming industry leaders from all areas of the connected home ecosystem,” said Elizabeth Parks, President and CMO, Parks Associates. “There is incredible value in gathering all these leaders in one place, and we invite anyone interested to join us in Dallas.”
Cnnections is co-located with Connected Health Summit, and attendees will have the opportunity to attend multiple crossover sessions addressing business model growth, interoperability, and demand for home services.