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

2024 State Of The Industry: Guarded Optimism

“Companies will continue to adapt by finding new suppliers, adjusting product pricing, managing inventory more efficiently, and possibly rethinking entire supply chain strategies,” reports Elizabeth P...

Alliance Raises Curtain on Wi-Fi 7

“Novel generative AI applications that require high throughput will benefit from Wi-Fi 7’s fast speeds,” added Kristen Hanich, an analyst at Parks Associates, a market research and consulting comp...

3 Tips for Security Integrators to Assess Their Product Offerings in 2024

A report released by Parks Associates last year found that small, local security dealer businesses are struggling to keep up with national tech-first, online-first players with a presence in multiple...

Security Industry Forecast: Experts Chime in, Sharing Expectations for 2024 and Beyond

Elizabeth Parks, president and CMO at Parks Associates: Smart cameras and video doorbells are popular, showing an increase in adoption and high intentions for the next year…. Bundling these security d...