Providing market intelligence for more than 35 years

In The News

Research Shows COVID-19 Elevates Smart Home Security Use, Increases Safety Concerns

New research from Parks Associates shows COVID-19 has amplified concerns around the safety and security of property and family members, driving consumers to seek solutions from integrators.

New research from Parks Associates reveals COVID-19 has significantly impacted consumer behavior and has heightened concerns for safety and security, with 64% of consumers reconsidering at least one lifestyle change as a result of the pandemic.

“Consumers are making long-term lifestyle changes in response to the COVID-19 crisis,” says Patrice Samuels, senior analyst, Parks Associates. “As consumers invest in their homes, adoption of smart home solutions is expanding. Connectivity provides new ways to solve problems, and consumers are willing to spend money to improve their day-to-day lives.”

Parks says COVID-19 has amplified concerns around the safety and security of property and family members, driving consumers to seek solutions for these heightened needs. The research shows 61% of U.S. broadband households are highly concerned about the health and safety of their children and 35% are very concerned about the health and safety of an aging loved one who lives alone or with a caregiver.

“Smart home device manufacturers and service providers are developing new solutions catered to the unique needs of MDUs, a key end-market segment for smart home brands,” says Elizabeth Parks, president, Parks Associates. “There is a huge opportunity for U.S. MDU property managers, with the potential to generate $1.9 billion annually for additional rental features and services.”

From the article "Research Shows COVID-19 Elevates Smart Home Security Use, Increases Safety Concerns" by CE Pro Editors. 

Previously In The News

Nomadix Launches Energy Management Solution to Reduce Properties’ Operational Expenses and Enhance Sustainability

MDU properties, including military housing, senior living, and student accommodation, can expect OPEX savings up to 20 percent when implementing smart home devices such as EMS, according to Parks Asso...

The fastest Wi-Fi 7 internet providers in the US, ranked

The strength of your Wi-Fi is determined by a variety of factors, including your equipment, your wireless devices, your location, and your environment. But your ISP also plays an important role. That'...

Parks Associates Announces Inaugural Property Innovation Awards at Smart Spaces Conference in Dallas

International research firm Parks Associates will honor winners of its new award at the third annual Smart Spaces event, Sept. 16-17, in Dallas. International research firm Parks Associates said th...

Apple TV 4K: The One Feature Apple Won’t Add | Nerdy Tech Wishlist

A recent survey by Parks Associates found that less than 15% of Apple TV users regularly engage in gaming on the device, suggesting that enhanced gaming performance isn’t a primary driver for upgrades...