Industry report highlights new services enabled by connected devices in the home
New research from Parks Associates finds 38% of smart home device owners find a service that installs smart home devices on their behalf highly appealing. The report Connected Home Services: Updating Modern Lifestyles identifies unique strategies device manufacturers are using to drive recurring revenues by maximizing the value of smart home devices for consumers.
“As the market for smart home devices expands to the early majority, an opportunity is emerging to provide premium support services to smart home device owners,” said Patrice Samuels, Senior Analyst, Parks Associates. “Major consumer technology brands, most notably Best Buy and Verizon, have adjusted their premium support subscription offerings to accommodate this market, and other types of companies, including Amazon Home Services, HelloTech, and Puls, have entered the space or have expanded their support services to accommodate smart home devices.”
While companies like Best Buy offer a comprehensive suite of technical support services for smart home devices, including pre-purchase consultations, setup and installation, and ongoing support, most brands have focused on setup and installation services.
“Since smart home devices are still new to many consumers, consultation services are highly valued, making these features solid competitive differentiators when added to setup and installation services,” said Samuels.
Connected Home Services: Updating Modern Lifestyles outlines new services including support, delivery, replenishment, and asset-sharing services enabled by connected devices in the home. It also highlights factors driving the development of these services and examines business models and strategies.
Additional research findings:
- Twelve percent of US broadband households report high interest in a service that allows carriers to deliver packages inside their home or garage when they are not home.
- Thirty-six percent of smart home device owners find a service that teaches them how to use smart home devices highly appealing.
For more information about Connected Home Services: Updating Modern Lifestyles, contact sales@parksassociates.com. To request data or an interview, please contact Rosey Ulpino, rosey@parksassociates.com, 972.996.0233.
About Parks Associates
Parks Associates helps companies identify new opportunities, refine strategy, and accelerate growth in connected technology markets through data-driven insights and industry expertise. With more than 40 years of experience, the firm delivers proprietary consumer and industry research, market forecasts, and strategic analysis that guide business decisions across personal, connected home, small business, and commercial technology ecosystems. Parks Associates supports clients in navigating evolving markets including AI, security, smart home, broadband, entertainment, energy, multifamily, smart buildings, and connected health.
The firm also fosters industry growth and collaboration by convening thousands of leaders each year through its flagship executive conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.
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