Providing Market Intelligence for 40 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

How Online Video Operators Are Fighting Back Against Organized Streaming Piracy

In 2023, Parks Associates projected that cumulative revenue loss to piracy for streaming services serving US consumers would reach $113 billion by the end of 2027, with the piracy rate for film and te...

In-home Wi-Fi problems create customer churn risk: Parks Associates

Broadband customers who experienced Wi-Fi dead spots, slow speeds, and poor customer service were about six times more likely to say they planned to switch providers, according to a new white pape...

Parks Associates: Managed connectivity now central to multifamily resident experience

A new white paper from Parks Associates, developed in partnership with Calix, argues that managed connectivity has evolved beyond basic internet access and is becoming critical infrastructure for...

Apple CEO John Ternus Bets on HomeView Smart Display to Revive Stalled Home Category

Jennifer Kent, principal analyst at Parks Associates, told CNBC that Apple “always waits for an ecosystem to develop first until they are positive they can provide a stellar user experience,” and that...

Phone:
972-490-1113
Mailing Address:
2301 West Plano Parkway, Suite 210, Plano, TX 75075
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Connectivity and Mobility Small-to-medium Business (SMB) MDU
Services
Research Memberships Visibility Memberships Streaming Video Tracker Smart Home and Security Tracker Broadband Market Tracker Channel Analytics
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces
Resources
Press Releases Analyst Blog Parks in the News
Store
View Your Cart
About Us
Overview Team Contact Us Privacy Policy

Follow:

© 2023-2026 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive