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

Top 10 IoT trends for 2017

A new study released by Parks Associates this year revealed wearables and smart watches are expanding as healthcare tools are integrated more with other IoT applications. According to the report, w...

Study: IoT Users May Become Comfortable With Sharing Device Data, For A Price

A Parks Associates study has found that over a quarter of respondents would become more comfortable sharing their data if their devices would "automatically register for warranties and check warranty...

Total Number Of IoT Devices To Reach 46 Billion By 2021: Research

"Online giants have the scale and technology to take risks in new areas of innovation," said Parks Associates. "In some cases, these innovations are transforming whole sectors of the connected home."...

Consumers’ Adoption Of Voice Assistants Doubled In Q1 – Here’s Why

The use of artificial intelligence-based voice assistants is growing rapidly, thanks the consumer interest in “smart home” devices offered by Amazon, Google, Samsung, Apple, and others. That in tur...

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