New Parks Associates research finds expanding consumer choice key to steady growth in smart home, connected cars, pay TV, and smart kitchens
New research released covers smart home buyer profiles, IoT trends, connected car forecasts, pay-TV strategies, and more
Leading IoT research firm Parks Associates today announced new deliverables available for purchase assessing energy management, connected cars, TV services, and smart home/smart kitchens. The international firm reveals that 95% of U.S. broadband households use one or more mobile phones, which in many cases serves as the foundation for the connected consumer experience across multiple IoT markets.
“Among the 95% of broadband households using a mobile phone, 89% own a smartphone. Quick and easy access to the Internet is changing how consumers interact with technology, driving new innovations and the adoption of new products and services in multiple verticals,” said Jennifer Kent, Director, Research Quality & Product Development, Parks Associates. “Companies use our research to identify new use case scenarios, barriers to adoption, opportunities for new partnerships, and the best business models for expanding their businesses.”
Parks Associates notes that 26% of U.S. broadband households own at least one smart home device, which equates to more than 26 million households. Traditionally most smart home products were sold bundled with services or with multiple components, but the share of sales of standalone devices increased for more than a dozen smart home product categories between 2014 and 2016, which could indicate a transition beyond early adopters and high-income households toward the mass market. Parks Associates analysts note that for smart home companies to continue to grow consumer interest and adoption, they must refine and promote the value propositions for their solutions as they relate to the specific needs of their customers.
“There are thousands of consumer use cases for smart home systems and devices,” said Brad Russell, Research Analyst, Parks Associates. “This market condition can be challenging for smart home marketers whether they are selling smart home bundles or single-use devices. Parks Associates research helps companies identify their target markets and determine the best strategies to reach consumers, whether they are targeting the bundle buyers, first-time standalone device buyers, or buyers purchasing additions and replacements.”
New Parks Associates deliverables include the following:
Consumer Choice: Standalone or Bundled Smart Home Devices reveals consumer preferences for smart home bundles versus build-as-you-go adoption and highlights the differences between the consumer segments. The report also describes the benefits of the various purchase options, details purchase patterns and retail preferences, and analyzes the key industry players from the security, broadband, and DIY arenas.
Smart Kitchens: Intelligent Planning, Shopping, and Cooking addresses how the connected kitchen is changing the competitive landscape for appliances, shopping, distribution, and meal preparation. The report also highlights the major trends in the connected kitchen and their impact on the consumer and related markets.
TV Services: Changing the Channel Package examines different factors causing operators to reassess the ways in which they package their pay-TV offerings, including carriage fee battles, changing consumer preferences, new regulations, emerging technologies, and aggressive competition. The report also examines global and regional trends in video service packaging and consumer preferences related to these changes.
The Connected Car Experience: Software, Apps, and Services examines the connected car software developer sector to highlight innovations and new consumer experiences that will come to new car models in the next five years. The report hones in on software and apps that can be built on top of a car’s embedded operating system, through mirroring technology from a smartphone, or via an aftermarket product. The report concludes with an update on Parks Associates’ five-year forecasts of connected car sales in the U.S.
Parks Associates will present new research findings and analysis at the upcoming research workshop Crossing the Chasm: Understanding Growth in the Smart Home, sponsored by Ayla Networks, on March 21 in San Francisco. The firm also hosts the 21st-annual CONNECTIONS™: The Premier Connected Home Conference, May 23-25 in San Francisco, featuring keynotes from Comcast, Cox Communications, Intel, and Vivint Smart Home. Registration is open, and media are invited to attend both events.
For more information on Parks Associates research or events, visit www.parksassociates.com, or contact email@example.com, 972-490-1113. To schedule an interview with an analyst or to request specific research data, please contact Holly Sprague at firstname.lastname@example.org 720-987-6614.
About Parks Associates: Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
The company's expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.
Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, and Connected Health Summit: Engaging Consumers.
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