New research examines challenges and strategies for smart home products and services

International research firm Parks Associates today announced new IoT research examining the market for smart home devices and services, including the current challenges and strategies to expand consumer adoption and purchase intentions. The consumer research and industry reports include analysis of smart home consumer segments and forecasts for smart home controllers, standalone security gateway solutions, Wi-Fi adoption on major consumer electronic devices, and revenues generated from these devices and services.

“The groundwork for the consumer IoT – networked products that are connected to the Internet and have an accompanying virtual object in the cloud – is in place,” said Brad Russell, Research Analyst, Parks Associates. “Ubiquitous high-speed connectivity, mass smartphone ownership, and cloud services have enabled incredible innovation in consumer products and services and disrupted traditional marketplaces. Companies now need to identify and deploy the best strategies and innovations to engage consumers in the IoT.”

According to Parks Associates’ IoT research:

  • Only 10% of users use their personal assistant device or app to control smart home devices.
  • 40-50% of consumers are willing to share their data if presented with a variety of non-monetary incentives.
  • Parks Associates estimates that there are approximately 1.5 million Wi-Fi-first mobile service subscribers in the U.S.
     

Newly released research available for purchase includes:

Smart Home: Quest for Compelling Use Cases examines the breadth of smart products and the challenges these devices present for product managers and marketers as the number of interactions and use cases increase exponentially. The research also evaluates the ever-expanding use cases in the smart home and analyzes the priorities for different segments.

IoT Data: Securing the Connected Home examines the current challenges for securing the connected home and the opportunities for security solution providers. The report includes the latest consumer data on security concerns, willingness to share data, and analysis of their effects on consumer confidence and purchasing behavior.

Smart Home Controllers: Competitive Analysis focuses on segmenting and forecasting smart home controllers by type and channel. It also addresses emerging strategies – strategies designed to overcome the barrier inherent in a product that is beneficial AFTER smart devices are attached and integrated. It includes profiles of selected smart home control companies within market segments and U.S. forecasts from 2016-2020.

Wi-Fi Hotspots: Global Outlook reviews consumer use of Wi-Fi and analyzes the public Wi-Fi hotspot market from the perspectives of Wi-Fi service providers and enterprise customers that deploy public Wi-Fi to serve consumers. It also examines the entry of Wi-Fi-first mobile service providers and the potential impact on mobile operators’ business. The report profiles new Wi-Fi standards and their potential competitors and includes a global forecast of revenues from public Wi-Fi hotspot services targeting both consumers and business customers.

For information on Parks Associates research or events, visit www.parksassociates.com, or contact sales@parksassociates.com, 972-490-1113. To schedule an interview with an analyst or to request specific research data, please contact Elizabeth Parks at eparks@parksassociates.com, 972-996-0202.

About Parks Associates

Parks Associates is a global research, consulting, and marketing firm with 40 years of experience delivering proprietary consumer data and industry insights for businesses. The firm produces market research reports, forecasts, surveys, and competitive business intelligence on connected consumer, small business, and commercial technologies and related business solutions. Parks Associates provides custom research, strategic consulting, and forward-looking analysis across connected home, small business, and commercial markets, including security, smart home, broadband, entertainment, energy, multifamily, smart buildings, connected health, and emerging AI-driven technologies.

Parks Associates supports industry growth through proprietary research, consulting, and executive networking and convenes thousands of leaders each year through its flagship 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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