Wednesday, January 13, 2016

Parks Associates’ new industry research focuses on IoT innovations and interoperability in the smart home

Parks Associates announced two new industry reports today focused on the growing Internet of Things (IoT) market and the role of interoperability in driving consumer adoption of new smart home products and solutions. The research firm reports that at year-end 2015, nearly 20% of U.S. broadband households had at least one smart home product (smart thermostats, networked cameras, smart video doorbells, smart door locks, smart lighting devices, or smart home central controllers). By 2025, 66% of U.S. broadband households will have a smart home product.

“The Internet is undergoing its own transformation as all types of physical objects are connecting into the digital world, and as we saw at CES® and CONNECTIONS™ Summit, the industry is quickly innovating in the ways consumers will interact with these devices,” said Brett Sappington, Director, Research, Parks Associates. “Among the innovations, the Oculus Touch controller incorporates haptic feedback for virtual reality gaming, and the netatmo home security camera uses facial recognition to identify and respond to people in the home. Moen and Ubiquilux are incorporating gesture control to enhance the value of their smart home devices.”

Importance of Interoperability by Order of  | Parks Associates

The new research reports Internet of Things Interoperability and Innovation in Smart Home Products help companies understand trends, disruptive forces, and the impact of next-generation products and services on the connected home market. Over 50% of U.S. broadband households with a smart home device consider interoperability to be very important, and the significance of interoperability increases with each new device added to the smart home.

“Connectivity is changing the business models for a variety of products, and while consumers have multiple channels available to acquire smart devices and solutions, they clearly recognize the added value of connectivity,” said Stuart Sikes, President, Parks Associates. “As home automation solutions become more common and affordable, interoperability will be a differentiator. For example, Bluetooth Smart has a competitive advantage through its integration into all major operating systems, enabling a plug-and-play experience, even with a highly customized device.”

Innovation in Smart Home Products addresses the evolution of the user interface for IoT products and services; new technologies that will enable richer user experiences in tomorrow’s smart home; market trends and applications driving these technologies; and the success factors required for these technologies to establish a role in the smart home market.

Internet of Things Interoperability addresses the primary protocols competing for inclusion in smart home products, tracks the evolution of the major protocols, describes the advantages of each one, describes the use of APIs to achieve interoperability, and describes the market forces which will drive greater adoption of certain protocols.

For more information about this research, visit www.parksassociates.com. To schedule an analyst interview or to request specific data, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.

About Parks Associates: Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

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