Wednesday, June 30, 2010

Parks Associates forecasts home controls to jump from 6% to almost 20% of U.S. households by 2014

Energy management, entertainment systems control, and remote home monitoring to drive adoption of home controls  

The home controls market must focus on individual applications, such as entertainment and energy management, to overcome current inhibitors and boost its penetration beyond the present 6% of U.S. households, according to international research firm Parks Associates.

The firm’s report Home Systems: Home Controls – Analysis and Forecasts finds low consumer awareness and a shortage of affordable installation services currently hinder widespread adoption. The entry of well-known players, including ADT, Best Buy, Radio Shack, and Schlage, will help grow this market, but players should focus their value proposition on specific, easily understood applications in order to build consumer awareness and lay the foundation for future expansion.

“Three applications will drive adoption of control systems over the next five years: energy management, entertainment systems and content control, and remote home self-monitoring,” said Bill Ablondi, director, home systems research, Parks Associates. “Consumers see the value in these areas, which, once established, can serve as the base for expanded control systems in the home.”

Parks Associatse Home Controls Market Forecast

For example, as entertainment controls for home theater and audio systems become more affordable, penetration will expand from 5% of U.S. households to 17% by 2014. These systems can then be expanded to integrate lighting, window treatments, and security controls, a strategy that will help push penetration of control systems overall to almost 20% of households by 2014.

Home Systems: Home Controls – Analysis and Forecasts offers in-depth analyses and forecasts for the home controls market. For more information, visit http://www.parksassociates.com or contact 972-490-1113, sales@parksassociates.com.

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

Next: MEDIA ALERT: Parks Associates presents new consumer data at CEDIA Expo
Previous: Security monitoring revenues increase despite declines in sales and home construction

Comments

    Be the first to leave a comment.

Post a Comment

Have a comment? Login or create an account to start a discussion.

© 1998-2021 Parks Associates. All Rights Reserved.