The Kiplinger Letter – Oct. 25, 2019
Home Tech Takeover
More front doors in your neighborhood will soon sport video doorbells as more homeowners and renters seek the security of 24/7 surveillance. The small cameras are connected to Wi-Fi, and users can tap into live HD video from anywhere. The latest devices feature a wider field of view, vivid night vision and prerecorded messages for visitors. A big selling point: Spotting package thieves.
In fact, sales of web-connected cameras of all types are going gangbusters.Global unit sales of cameras to consumers will surge by 20% yearly through 2023.That year, total revenue is projected to hit nearly $13 billion, much of it in the U.S.
Video doorbell vendors include Ring, Skybell, Google, Vivint, Eufy, Zmodo. Many models cost over $100. Users can see more archived video for a monthly fee.
Strong sales of smart-home cameras will spur sales of other smart devices for the home, since cameras are often the entry point to a more-connected residence. Global consumer spending on smart-home hardware, services and installation will zip past $100 billion this year, and see double-digit growth rates through 2023.
Expect a growing crop of installers and troubleshooters for smart homes…local firms that focus on wiring energy monitors, setting up voice-activated speakers or programming connected lighting. More-complex systems will require expertise.
For the most part, consumers will continue to shrug off privacy concerns. But that doesn’t mean vendors are ignoring the problem. The marketplace has become much more competitive, with improving hardware and declining prices. Sellers that protect consumer data and have transparent policies will have an edge.
Parker Associates works extensively on understanding your market, your consumer, and your goals. We don’t take guesses, we take the time and commit the resources to researching the market and the consumer to make sure we get it right. We are YOUR advocate by being the CONSUMER’S advocate.
Spend time looking at what you are trying to acquire, develop, or sell to learn how you can improve the success of what you are offering. Parker Associates helps understand the consumer by answering WHO will buy, WHAT they will buy, and HOW they will buy it. When the research is completed and the analysis is done, having the answers to these questions will reveal what will provide the best success for your project. Keep asking WHO, WHAT, and HOW and keep developing to fit the need.
The Parker Associates process starts with a confidential review and consultation to learn more about our processes. Then Contact Us to put Parker Associates to work for you.
David WB Parker is a principal of Parker Associates of Jacksonville, Florida, marketing consultants to the real estate industry; President of PTC Computer Solutions, IT Specialist, and an active real estate sales professional with Barclay’s Real Estate Group based in Jacksonville, FL. He can be reached at 904-607-8763 or via email email@example.com.