New study highlights consumer segments most likely to pay for integrated, intelligent home services
Parks Associates’ landmark research study, AI in the Smart Home: Applications and Consumer Perceptions, finds 42-52% of consumers are willing to pay for an AI smart home assistant monthly service that offers safety, security, maintenance, and convenience features. At the right price point, this service could generate more than $1 billion in revenue per month. The research highlights the market opportunity for new AI-powered smart home features and strategies to promote the tangible benefits of these features and services that most appeal to consumers.
“Top-rated AI assistant features include emergency support, home security awareness, tech troubleshooting, cybersecurity alerts, and face-unlock for the front door,” said Elizabeth Parks, President and CMO, Parks Associates. “These use cases touch on the value propositions already at the heart of the smart home, and AI promises to enhance that value and build on it.”
Users who already see value in AI—especially those paying for AI tools today—are ready to pay more for deeply integrated, intelligent home support. Companies may seek partnership opportunities across ecosystems to develop, market, and monetize experiences.
AI in the Smart Home investigates consumer attitudes toward AI and their appetite for paid AI-based services, plus the types of companies consumers most trust to provide intelligent, helpful, and secure solutions. Other data highlights include:
- 81% of security system owners find at least one safety-related AI-powered benefit valuable.
- Households with children are far more interested than others in home management features such as AI that suggests maintenance priorities and generates home update ideas.
- Older consumers are less engaged with AI tools today but see the value in several AI benefits at the same or even higher rates as younger consumers, including AI-powered safety, tech-support, and cybersecurity benefits.
- 79% of US internet households find at least one AI-powered smart home benefit valuable.
“Consumers are willing to pay for products and services from smart home players that can deliver a truly intelligent, personalized, helpful service,” Parks said. “Smart home players must know their customer and the benefits that matter most to them.”
The research study is available for purchase. To schedule an interview with an analyst or to request specific data, contact Mindi Sue Sternblitz-Rubenstein, 972-490-1113.
About Parks Associates
Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.
The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.
Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com
Follow Parks Associates on LinkedIn, Facebook, and Instagram.
