Monday, September 19, 2016

Adoption of smart home devices in Western Europe trails the U.S.

Parks Associates President to present global IoT research insights at Smart Home Summit London

IoT research from Parks Associates shows the adoption of smart home products is significantly lower in Western Europe compared to the U.S., where 19% of broadband households reported ownership of these products in Q4 2015. The U.K. has the highest adoption among all Western European countries, with 13-16% owning smart home devices, compared to 10-13% in France and Spain. Overall adoption in Western Europe for smart home devices is 10-15%.

This week at Smart Home Summit in London, Parks Associates President Stuart Sikes will discuss this research and strategies to accelerate smart home adoption in Europe during the session “Smart Home Monetization” on 21 September at 2:50 p.m. He will also chair day two of the event as well as moderate the session “Your Questions Answered by our Expert Smart Home Panel.”

“We are seeing adjacent markets, including connected cars, connected health, home security, energy, entertainment, and insurance, creating new value cases by adopting and expanding on smart home technologies,” Sikes said. “At Smart Home Summit, we will address ways that providers and manufacturers can capitalize on new opportunities with these overlapping markets.”

Sikes will also address the value proposition for connected devices and services and strategies to increase consumer awareness of smart home products and services. Many service providers throughout Europe have merged the smart home concept with their solutions, but consumer awareness in the four largest Western European countries remains low.

“In Europe, the smart home market is still in its infancy, and service providers as well as product manufacturers continue to experiment with new offerings. At this market stage, demonstrating value to consumers is key to increasing familiarity and awareness,” Sikes said. “An increasing number of connected products, from companies such as Nest Labs, are hitting the market and helping to drive awareness, and subsequent adoption of, these smart home products.”

Parks Associates will also present and discuss its European and global IoT research at the firm’s 11th-annual CONNECTIONS™ Europe: Smart Home, IoT, and the Connected Consumer, held 2-3 November 2016 at the NH Grand Hotel Krasnapolsky in Amsterdam. The event, which features keynotes from Allianz, Amazon, Nest, Panasonic, and SmartThings, focuses on the impact of IoT on the consumer and explores innovative business strategies, new crossover industry partnerships, and advancements in IoT solutions that are creating more consumer engagement and business opportunities for smart home, cloud services, and connected entertainment solutions.

For more information about Parks Associates’ events or research, visit www.parksassociates.com. To schedule an analyst interview or to request specific data, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.

About Parks Associates: Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

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