Providing market intelligence for more than 35 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

Disney vs. Nexstar and Sinclair: What Do They Each Have to Lose in the Jimmy Kimmel Standoff?

“With an older base of viewers who tend to be more conservative, Sinclair and Nexstar are trying to protect their advertising base while Disney has a younger, more diverse audience across its offering...

Smart thermostats are a really smart move

Parks Associates, a leading market research firm, shared at their annual Smart Spaces conference in Dallas, Texas, that 47 percent of residents actively try to reduce their energy consumption. From...

Resorts World Las Vegas' Award Winning Contactless Checkin & Mobile Room Key Implementation

In recognition of this digital achievement, Parks Associates and Smart Spaces 2025, Apartments, Hospitality, and Community Living, presented their 2025 Property Innovation Award to Resorts World Las V...

Leveraging digital footprints to outpace evolving fraud tactics

Parks Associates reported that in 2023, the average US household with internet access had 17 connected devices. Each household uses devices tied to specific individuals, with associated email addresse...