Tuesday, July 26, 2016

Parks Associates releases new research on IoT smart home business models, home energy management, security, and smart lighting

Market Research Firm Announces Four New IoT Industry Reports

Parks Associates today announced four industry reports focusing on IoT smart home business models, home energy management, security, and smart lighting. These reports provide in-depth analysis of industry trends and consumer research and recommendations, forecasts, and partnership opportunities for players within these market segments.

“IoT Innovations are driving long-term changes in consumer behaviors and business models,” said Stuart Sikes, President, Parks Associates. “New smart home solutions and cloud services are influencing how consumers communicate and manage their households, while the potential of the IoT is bringing in new players, including the insurance industry. Insurance companies, by leveraging the capabilities of smart sensors and connected devices, can avoid risk and minimize payouts while extending value to their consumers through proactive monitoring that helps them avoid damage.”

Smart Lighting Device Purchase, Adoption, and Intention

According to Parks Associates’ IoT research:

  • More than 30 million U.S. broadband households will have a home security system by 2019.
  • 51% of U.S. broadband householders find an IoT device that alerts them to smoke and fire to be highly appealing.
  • Smart light bulbs have reached 8% adoption among U.S. broadband households.
  • 44% of U.S. broadband households are concerned about hidden costs associated with energy management systems.

“The focus of connected devices must be on the benefits to consumers,” Sikes said. “IoT adoption is tied to the ability to solve real customer problems. Monetization requires partnerships that make direct use of consumer data to provide a superior user experience.”

“Smart home solutions are monetized through a price premium delivered by differentiation, through alternative business models delivered by partnerships, or through operational efficiencies delivered by data,” said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates, “but IoT adoption is tied to solving real customer problems. Leaders in the smart home market will leverage new monetization models to unlock value for customers.”

Newly released industry research includes:

IoT: Smart Home Business Models shows how connectivity enables business model innovation and expands markets. It also outlines some of the key alternative business model options for energy providers, smart home product manufacturers, and service providers.

The Evolution of Home Energy Management provides an overview of home energy management solutions and opportunities enabled by smart products, smart home systems, distributed residential energy generation, and residential energy storage. It describes how technology will ultimately drive the evolution of home energy management.

The Evolution of Security and Smart Home examines the competitive forces in residential security as providers and manufacturers seek market expansion and enrichment through smart home system products and services. It also identifies and analyzes issues related to trends in technology, consumer behavior, channels to the consumer, and the impact of digital disruptors.

Smart Lighting Landscape for the Connected Home addresses the smart lighting ecosystem of products and services for the connected home, with attention to the industry segments for standalone lighting systems, lighting systems for self-installed home control platforms, lighting systems for interactive security services, and custom-installed lighting for whole-home systems. The report identifies key industry players, market drivers, and industry trends in lighting devices and systems and provides five-year forecasts for selected smart lighting devices.

For more information on Parks Associates research or events, visit www.parksassociates.com, or contact sales@parksassociates.com, 972-490-1113. Parks Associates will host Connected Health Summit: Engaging Consumer, on August 30 – September 1, 2016, in San Diego.

To schedule an interview with an analyst or to request specific research data, please contact Holly Sprague at hsprague@gmail.com.

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

Next: Parks Associates announces “Top 10 Consumer IoT Trends in 2017” and players to watch in the new year
Previous: Parks Associates releases NUMBERS™: Set-Top Box, Connected Audio, Tablets/Smartphones, and Mobile Broadband Forecasts


    Be the first to leave a comment.

Post a Comment

Have a comment? Login or create an account to start a discussion.

© 1998-2022 Parks Associates. All Rights Reserved.