Providing Market Intelligence for 40 Years

In The News

Consumer IoT Products are Priced 44% Higher on Average Than Similar Non-Connected Products

Parks Associates recently surveyed more than 100 executives across the connected home and consumer IoT landscape to better understand their view of the market, changes in their business strategies, key metrics for success, and top challenges facing the market.

The research, found in The Business of Consumer IoT: Product Strategy in a Maturing Market, reveals consumer IoT products are priced 21-70% higher than similar non-connected products, with an average price differential of 44%.

Jennifer Kent, VP Research, Parks Associates, said, “The smart home and security markets benefit from delivering solutions that address consumer needs that only get stronger in uncertain times – safety and security. This – along with growing demands on the grid due to electrification and data center development – gives stability to the smart home market and a positive outlook that may not hold in other economic sectors.”

“Great product development is at the core of many consumer IoT businesses, but marketing, merchandising, pricing models, logistics, and other operational factors will become ever more important to staking out a lead position in the market – and a profitable one,” Kent said.

From the IoT Business News article, "Consumer IoT Products are Priced 44% Higher on Average Than Similar Non-Connected Products"

Previously In The News

Dealers: Integrating Customers’ Smart Home Devices Is Difficult

New research from Parks Associates finds U.S. security dealers are “facing renewed challenges integrating customers’ existing smart home devices into professionally installed security systems.” Ado...

Soaring Memory Prices Dampen Demand for Budget Smartphones

Rising DRAM costs are one of several factors increasing the cost of developing next-generation connected devices, observed Elizabeth Parks, president and CMO of Parks Associates, a Dallas-based market...

Twenty Years From Now, You Won’t Just Watch Sports—You’ll Enter Them

“Sports broadcasting is going to look very different in the future,” says Michael Goodman, director of entertainment research at Parks Associates, a market-research and consulting firm. “The core prod...

State of the Market: Security’s ‘Sixth Sense’ Drives Intrusion & Smart Home

Parks Associates forecasts steady growth for the U.S. smart home device market, which will reach $15 billion in sales revenue by 2029. According to a whitepaper released by Parks Associates and Viv...

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