Providing market intelligence for more than 35 years

In The News

Smart Home of the Future Is Here; Why Aren't People Buying In?

What will convince consumers that a connected home is worth the cost and effort? Device makers hope to sell the idea that a connected home is not just safer, but also saves money and is ultra-convenient.

Smart home devices must automate daily mundane tasks so the homeowner doesn't have to worry about them, said Stuart Sikes, president of the research firm Parks Associates.

"We're moving to a place where we have proactive home managers, devices that turn off the water and notify you after the fact that you've had a leak, the water's been shut off, can I do anything else for you?" said Stuart Sikes, president of the research firm Parks Associates. "That is a true smart home."

Take Google's Nest Learning Thermostat, for example, which costs $249. Manufacturers claim the gadget saves an average of $131 to $145 a year in heating and cooling bills. But a smart system could add to those savings by telling the blinds on the home's western windows to automatically close at 5 p.m. to block the sun.

From the article "Smart Home of the Future Is Here; Why Aren't People Buying In?" by Benny Evangelista.

Previously In The News

EV Sales Growth Flattens Following Pandemic Peak

Electric vehicles (or EVs) had received a big boost off the heels of the pandemic as consumer interest over environmental issues coupled with hearty government subsidies helped fuel a respectable boom...

Apple devices have high net promotor scores across consumer electronic products

Parks Associates’ new Tech Ecosystem Dashboard, featuring ownership and purchase intention data from surveys of 5,000-8,000 US internet households, finds the net promoter scores (NPS) for Apple-br...

Warner Bros. Discovery and Disney launch Hulu, Disney+, Max bundle

According to Parks Associates research, U.S. households that had five or more OTT subscriptions declined from 52% in Q3 2023 to 46% in Q1 2024 and average monthly spending on SVOD services dropped fro...

Study Shows High Consumer Expectation for Rapid Security Event Response

Eighty-six percent of alarm system owners expect a response within half an hour, and 42 percent expect a police response within 10 minutes of an alarm. Source: Parks Associates  A large majorit...