Parks Associates Director to present Canadian IoT research insights at CONNECTED + this week

Leading IoT research firm Parks Associates revealed today that high-income broadband households are driving the recent jump in smart home adoption in Canada. Smart Home and IoT in Canada shows that 19% of Canadian households with an income of $100,000 or more own at least one smart home device, compared to just 5% of those with an income of less than $50,000. Smart programmable thermostats are the leading smart home device in Canada, with 5% adoption among all broadband households, and ownership jumps to 13% among Canadian households making $100,000 or more.

Jason Paris, Director, Business Development, Parks Associates, will present the firm’s findings this week at CONNECTED + in Toronto. Paris will moderate the panel “Coopetition and Collaboration: Telecom, Utilities, Tech Providers, Start Ups” at 11 a.m. on October 13. Joining Paris on the panel are the following speakers:

• Luigi Gentile, Director, Client Solutions, GE Healthcare
• Ken Gouveia, Director, IoT Portfolio, Bell Canada
• Keren Verch, Director, Business Development, Schneider Electric
   

“Several trends are impacting the security market in Canada,” Paris said. “The transition to interactive services and home controls is now mainstream and is attracting first-time subscribers to the security market. The move toward self-installed security systems has been more dramatic, accounting for half of the security systems installed in the last year.”

In addition, those who already have monitored security services are interested in new interactive features. The research shows that about 50% of Canadian security households that have professional monitoring are likely to switch providers if offered a system with smart home capabilities.

“Nearly 20% of broadband households in Canada have a security system with professional monitoring, and even though a solid majority are very satisfied with their service, the lure of a system with smart home capabilities would be strong enough to convince 50% to switch providers,” Paris said. “This finding shows the strength of smart home capabilities as a differentiator for companies in the Canadian security market.”

Paris will also moderate the noon keynote session “Spotlight on: Canadian Innovation,” which features Rick Huijbregts, Managing Director Americas, Digitization – IoE, Cisco.

Parks Associates research shows that overall adoption of smart home devices in Canada is 11% among all broadband households. Individual device penetration largely mirrors the U.S. market, where thermostats and security-related devices have greater adoption compared to larger stand-alone products like smart appliances, blinds, and fans.

Parks Associates is supporting CONNECTED + , which offers extensive learning and networking opportunities with industry players, workshops, six learning streams, and more than 70 speakers. To register, visit www.connectedplusshow.com.

Parks Associates will also present global IoT research at the firm’s 11th-annual CONNECTIONS™ Europe: Smart Home, IoT, and the Connected Consumer, held November 2-3, 2016, at the NH Grand Hotel Krasnapolsky in Amsterdam. The event focuses on the impact of IoT on the consumer and explores innovative business strategies, new crossover industry partnerships, and advancements in IoT solutions that are creating more consumer engagement and business opportunities for smart home, cloud services, and connected entertainment solutions.

For more information about Parks Associates’ events or research, visit www.ParksAssociates.com. To schedule an analyst interview or to request specific data, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.

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