Providing Market Intelligence for 40 Years

In The News

Research Shows COVID-19 Elevates Smart Home Security Use, Increases Safety Concerns

New research from Parks Associates shows COVID-19 has amplified concerns around the safety and security of property and family members, driving consumers to seek solutions from integrators.

New research from Parks Associates reveals COVID-19 has significantly impacted consumer behavior and has heightened concerns for safety and security, with 64% of consumers reconsidering at least one lifestyle change as a result of the pandemic.

“Consumers are making long-term lifestyle changes in response to the COVID-19 crisis,” says Patrice Samuels, senior analyst, Parks Associates. “As consumers invest in their homes, adoption of smart home solutions is expanding. Connectivity provides new ways to solve problems, and consumers are willing to spend money to improve their day-to-day lives.”

Parks says COVID-19 has amplified concerns around the safety and security of property and family members, driving consumers to seek solutions for these heightened needs. The research shows 61% of U.S. broadband households are highly concerned about the health and safety of their children and 35% are very concerned about the health and safety of an aging loved one who lives alone or with a caregiver.

“Smart home device manufacturers and service providers are developing new solutions catered to the unique needs of MDUs, a key end-market segment for smart home brands,” says Elizabeth Parks, president, Parks Associates. “There is a huge opportunity for U.S. MDU property managers, with the potential to generate $1.9 billion annually for additional rental features and services.”

From the article "Research Shows COVID-19 Elevates Smart Home Security Use, Increases Safety Concerns" by CE Pro Editors. 

Previously In The News

Managing for the Optimized Content Bundle

According to Parks Associates, over a quarter of millennials subscribe to three or more over-the-top video services, and more than half use at least two. However, a separate U.S. survey from Vanson Bo...

Operators Should Embrace SVOD to Attract Next Generation

Parks Associates senior director of research Brett Sappington noted that most users of SVOD services like Netflix, Amazon and Hulu are younger (aged 25-34) and have been in their homes less than 12 mo...

Consumers' Dependence on Broadband Gives Comcast a Streaming Opportunity

Most Americans would likely agree that access to high-speed internet makes life much easier and more enjoyable. Technology market research firm Parks Associates has quantified the gut feeling. As of l...

Most Broadband Homes Have Pay TV and OTT Subscriptions

More than half of all U.S. homes with broadband subscribe to both a pay TV service and at least one over-the-top video service, according to a new study by Parks Associates. In its OTT Video & TV E...

Phone:
972-490-1113
Mailing Address:
2301 West Plano Parkway, Suite 210, Plano, TX 75075
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Connectivity and Mobility Small-to-medium Business (SMB) MDU
Services
Research Memberships Visibility Memberships Streaming Video Tracker Smart Home and Security Tracker Broadband Market Tracker Channel Analytics
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces
Resources
Press Releases Analyst Blog Parks in the News
About Us
Overview Team Contact Us
Store
View Your Cart

Follow:

© 2023-2026 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive