Providing Market Intelligence for 40 Years

In The News

Business and COVID-19

According to research done by Parks Associates, technology was impressed into service at greater volumes than in previous years due to the stay-at-home orders in much of the country. They found one-third of smart device owners in U.S. households with broadband have increased usage of their devices during the COVID-19 pandemic, including 46% of smart door lock owners. As market adoption and usage increase, however, new challenges in the consumer experience are emerging, which could impact current and future growth. A growing percentage of smart home device owners now experience multiple problems with their devices each year, and 16% of US broadband households report home network problems have disrupted work-at-home activities during COVID-19.

Parks Associates’ surveys show nearly 29% of SMBs report their company is at risk of going out of business due to COVID-19. The public health crisis and months of shelter-in-place orders have had a dramatic impact, particularly on SMBs. Their report, New SMB Landscape: Devices, Communication, Security, Support, provides insights on technology adoption and needs among SMB owners and IT personnel and examines the changes taking place as a result of reduced budgets and a broad shift to working from home.

Parks Associates analyzed the data and found that most SMBs spend less than 20% of their overall budget on IT products and services, and one-third do not appear to have had a planned budget for IT products and services at all in 2020. At the outset of the COVID-19 pandemic, many companies scrambled to get the equipment to allow their employees to work at home. Nearly one-fourth report their spending on internet and IT services and devices has increased since the outbreak, and the continued uncertainty of the operating environment is making it difficult for them to develop solid budgetary plans for 2021.

From the article "Business and COVID-19".

Previously In The News

4 ways digital platforms are reshaping entertainment access in 2026

According to TV Technology’s summary of Parks Associates data, 91% of U.S. internet households had at least one streaming service last year, while traditional pay‑TV reached just 41%. Nearly six subsc...

Social Platforms Are Moving Onto TV Screens—Industry Experts Explain Why

The shift is already underway. Social video is now the second-most-watched video type on TVs, according to research from Parks Associates. Jennifer Kent, SVP and principal analyst at Parks Associat...

San Francisco’s new smart homes see you coming

Smart home device revenue is expected to jump 40% from $10.7 billion in 2024 to 15 billion in 2029, according to data from Parks Associates, a consumer tech market research firm. From the article,...

Amazon Brings Alexa+ to the Web as AI Competition Heats Up

Amazon has devices and services that span nearly every facet of a consumer’s life, from entertainment — Prime Video, Fire TV — to smart home — Ring, Echo — to retail — Amazon marketplace, Whole Fo...

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 Broadband Small-to-medium Business (SMB) Connected Health
Services
Research Services: Custom and Consulting Research Projects Streaming Video Tracker Security Tracker Smart Home Tracker
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces Upcoming Industry Events
Resources
Press Releases Analyst Blog Parks in the News Connected Consumer Podcast 
About Us
Overview Team Contact Us
Store
View Your Cart

Follow Us to stay informed

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

Design & Developed By Agency Partner Interactive