Tuesday, June 25, 2019

43% of US broadband households intend to purchase a smart home device in 2019

Consumer research examines new channels for smart home solutions through home builders, new construction, and multifamily homes

New research from Parks Associates explores the opportunity for home builders and MDUs as channels for smart home solutions, as 25% of US broadband households perceive a “move-in-ready house” would include smart home devices. My Next Home: Demand for Smart Homes and Smart Apartments reports that despite device ownership flattening in 2018, purchase intentions for smart home devices continue to increase, with 43% of US broadband households planning to purchase at least one device in 2019.

“Among MDU residents, 19% feel that smart home devices are a very important consideration when looking for a home to rent or purchase,” said Patrice Samuels, Senior Analyst, Parks Associates. “Having smart home devices pre-installed in the home creates an immediate opportunity to demonstrate specific value propositions in safety, energy management, and convenience. It also opens avenues for ongoing services, such as tech support and data management, that are key to ensuring a positive user experience.”

Parks Associates Chart Likelihood Moving Homeownership

The research notes that companies offering smart home devices in the builder channel have the advantage of creating model homes specifically designed to demonstrate potential use cases and benefits of smart home devices, which can drive interest. Among MDU channels, properties often roll out devices across many units, exposing a large number of consumers to these products.

“Low consumer awareness and low perceived product value remain significant problems for the smart home industry,” Samuels said. “Insufficient information about smart home products often lead to purchase avoidance. These channels help introduce many new consumers to smart home products.”

My Next Home: Demand for Smart Homes and Smart Apartmentsquantifies consumer demand for smart products in their next residence. It alsoexamines the unique needs of consumers living in multifamily homes and examines the different use cases and drivers for smart home devices and systems among residents of multifamily dwellings and their business model preferences.

Additional research:

  • Among consumers who do not own or intend to purchase smart home devices, 54% do not perceive that the devices will benefit their lives.
  • Nearly one-quarter of US broadband households own at least one smart home device.
     

For information on My Next Home: Demand for Smart Homes and Smart Apartments, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific research data, please contact Sherrelle Lewis at sherrelle.lewis@parksassociates.com, 972-996-0214.

About Parks Associates: Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

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