- Research Expertise
- Smart Home: Products And Services
- Consumer Electronics And Entertainment
- Broadband And Mobility
- Connected Health And Wellness
- SMB
- Global Research
- Events
- Event
- Resources
- Our Services
- Company
- About Parks Associates
- Smart Home: Products And Services
- Smart Home Devices, Automation, Controls
- Energy Management
- Residential Security
- Consumer Electronics And Entertainment
- Consumer Electronics Devices
- Video Services: OTT, Pay TV
- Entertainment Content: Video, Audio, Gaming
Before we go any further, let’s look at the vastness of the IoT space for a moment. The global Internet of Things market will grow to $1.7 trillion in 2020 from $655.8 billion in 2014. According to Gartner, 8.4 billion connected 'things' will be in use in 2017, up 31% from the prior year. Total spending on endpoints and services are said to reach almost $2 trillion in 2017. The consumer segment is the largest user of connected things with 5.2 billion units in 2017, and represents 63% of the overall number of applications in use. A Parks Associates white paper puts an average of 5.4 smart devices in US households in 2017. And businesses are on pace to employ 3.1 billion connected things in 2017. When it comes to the nature of devices being spent on, consumers will indulge in automotive systems and home-based applications like smart TVs, digital set-top boxes, and appliances while businesses will use more smart electric meters and commercial security cameras.