July 1, 2015

Parks Associates Report Smart Home Platforms for Health Addresses Connected Health and IoT Opportunities for the Smart Home

Research firm notes investments in connected health likely to increase following Supreme Court decision

Parks Associates today announced a digital health industry report examining the potential of smart home platforms to support home-based connected health applications and services. Smart Home Platforms for Health notes, in a survey of smart home use cases, over 40% of U.S. broadband households are interested in the ability to receive medical alerts via a smartphone or other connected platform.

“About 10% of U.S. broadband households have some type of smart home product, service, or both, and by 2019 the number of U.S. homes with a smart home controller will exceed 26 million,” said Harry Wang, Director, Mobile and Health Products Research, Parks Associates. “The smart home industry is looking for new growth opportunities, and the Supreme Court’s decision in King v. Burwell has provided stability to the healthcare industry, making it an attractive market for smart home players. The smart home could enable new value propositions in home-based health and wellness solutions and independent living products and services.”

Parks Associates, a leader in connected health research and analysis, will host the second-annual Connected Health Summit: Engaging Consumers in San Diego, September 9-10, with keynotes from AT&T, Humana, and Kaiser Permanente. The conference takes a broad vision of successful technology and business strategies that maximize investment returns, increase consumer satisfaction, and drive adoption of digital health solutions.

Wang notes that the Supreme Court ruling, which upholds federal subsidies for healthcare exchanges, ensured continued implementation of the Affordable Care Act (ACA) and lifts a potential barrier to investment in connected health technologies by insurers and healthcare providers.

“The home care market is a logical extension for connected home platforms, and many such platforms are adding or will add home health, wellness, and aging-in-place solutions. MobileHelp’s mPERS solution, Lively’s smart watch for independent living, and Jawbone’s fitness tracker are early examples,” Wang said. “However, connected health applications introduce a bevy of unique challenges in integration and business models, so industry players need to screen market opportunities carefully through technology assessment and business risk analysis.”

Report topics include:

• Segmentation of the smart home platform market by platform openness and installation type
• Business challenges of supporting integration of connected health apps on smart home platforms
• Market overview of available connected health applications and why they are appealing to consumers
• Five-year U.S. forecast of connected health opportunities for smart home platforms

For more information on the research report and the Connected Health Summit, visit www.parksassociates.com. To schedule an interview with Harry Wang or to request specific digital health data, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.

About Connected Health Summit: Consumer Engagement and Innovation

Connected Health Summit, hosted by international research firm Parks Associates, is an executive conference focused on the impact of connected devices and IoT healthcare solutions on consumers at home. In its ninth year, Connected Health Summit brings senior industry leaders together from all aspects of the consumer experience ecosystems to provide insights on new business models, IoT technologies, consumer behaviors, and deployments relevant to consumer healthcare solutions.

The conference features Parks Associates quarterly consumer readdresses opportunities for new solutions in the care giving and senior markets and the wellness markets. This includes smart home platforms, on-demand services, voice assistants, and wearables, to empower consumers, caregivers, and providers and to meet the growing demand for services in independent living, chronic care management, remote access to care, and wellness and fitness solutions. www.connectedhealthsummit.com

Follow the event on Twitter at @CONN_Health_Smt.