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JAN 31, 2017

Consumers willing to exchange smart home product data for tech support benefits

Research workshop “Utilities and Consumer Engagement Strategies” attracts leaders from utilities, energy providers, commissioners, and smart home providers and vendors

Parks Associates today announced new research showing that roughly one-fourth of U.S. broadband households are willing to share data from a smart home product in exchange for technical support benefits, such as warranty information, product updates, or tips to better use the product. The IoT research firm will present its findings during the research workshop “Utilities and Consumer Engagement Strategies,” on Monday, February 20, prior to the opening reception for Smart Energy Summit: Engaging the Consumer at the Four Seasons Hotel in Austin, Texas.

“Data can be used as an alternate currency in the IoT, and consumers are willing to exchange that data for support,” said Patrice Samuels, Senior Research Analyst, Parks Associates. “Twenty-seven percent of U.S. broadband households are willing to share their smart product data to have their products automatically registered for warranties and to receive more information on the extent of their warranty coverage. In addition, 26% will share their data for product updates or improvements.”

Willingness to Share Data from Smart Products

The pre-conference workshop takes place from 1:00-5:00 p.m. on February 20 and includes top-line data from Parks Associates’ recent consumer studies. The presentations detail incentives, monetization models, barriers to adoption, and new opportunities for partnerships. Workshop sessions include:

  • The Value of Data
  • Making Data Meaningful
  • Energy Management in the Smart Home
  • Smart Home Service Providers and Energy Management
  • Interoperability Failures
  • The Role of Energy Providers in the Smart Home
  • Solar Power and the Smart Home
  • Solar Industry Perspective
  • Incentivizing the Smart Home
  • Utility Perspectives on Incentives

“Manufacturers need to explore alternate methods of monetization, and part of that task requires making the most of the data generated by smart home devices,” Samuels said. “During the workshop, we will examine strategies to reach a broader market and monetize the smart home as a result of crossover opportunities between the grid, energy management, and the smart home.”

The workshop will feature the following speakers:

  • Dina Abdelrazik, Research Analyst, Parks Associates
  • Amena Ali, Chief Revenue Officer, Whisker Labs
  • Tom Kerber, Director, IoT Strategy, Parks Associates
  • Derek Okada, Senior Manager, Policy & Planning, Southern California Edison (SCE)
  • Brad Russell, Research Analyst, Parks Associates
  • Stuart Sikes, President, Parks Associates
  • Dr. Kenneth Wacks, President, Home, Building & Utility Systems

The eighth-annual Smart Energy Summit: Engaging the Consumer, taking place February 20-22 in Austin, Texas, will feature IoT leaders, commissioners, and regulators providing insight on strategies for utilities to leverage the smart home to benefit the grid and develop compelling value propositions for their customers.

More information about the Smart Energy Summit is available at www.SES2017.com. To register for the event or the pre-show research workshop, go to http://bit.ly/SESregistration. To speak with an analyst or request specific research data, contact Holly Sprague at hsprague@gmail.com or 720-987-6614.

About Smart Energy Summit

Smart Energy Summit: Engaging the Consumer addresses the evolution of the consumer utility market, the impact of COVID-19 on energy management programs, and new opportunities to drive engagement in utility-sponsored programs. Virtual panels and networking sessions, featuring executive-level experts from multiple industries, address strategies for utilities, service providers, retailers, software providers, and manufacturers to expand and monetize energy management and other energy-focused offerings through consumer engagement, new business models, unique partnerships, and innovative technologies.

Smart Energy Summit features an in-person conference February 13-15 at the Omni Austin Hotel Downtown, with virtual sessions on June 15, August 17, and November 9. The summit agenda features leaders from utilities, state and national regulators, telecom and security companies, retailers, and OEMs. Follow the event on Twitter at @SmartEnergySmt and #SmartEnergy23. For information on speaking, sponsoring, or attending Smart Energy Summit, visit www.smartenergysmt.com.