Published 2024 by Parks Associates and Cardinal Peak; authored by Jennifer Kent and Tam Williams

This report breaks down the financial and strategic considerations involved in developing smart home and consumer IoT products. It covers costs related to hardware, software, cloud services, connectivity, and long-term support, and outlines monetization models including subscriptions, hardware pricing, upselling, and data‑enabled services. It compares turnkey, bespoke, and hybrid development approaches and stresses the importance of choosing the right platform and technology partners. The paper serves as a practical guide for brands aiming to build profitable, scalable IoT offerings.

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