Providing market intelligence for more than 35 years

In The News

Pandemic accelerates adoption of smart home solutions

This was one of key takeaways from the virtual CONNECTIONS Summit hosted this week by market research firm Parks Associates, which took place in conjunction with CES 2021. The event featured a multitude of panel discussions covering a variety of topics related to the adoption of smart home technology.

One of the first panels to take place during the event focused on smart home platforms and how consumers are leveraging them to integrate the multitude of connected devices that now comprise many U.S. residences. According to Jennifer Kent, Vice President of Research at Parks Associates, who also served as the panel’s moderator, a recent report from the firm found that U.S. households with broadband internet have, on average, 12 connected devices in their homes. Additionally, nearly one in five broadband households have a home control system and 28% have a security system that is professionally monitored with smart home control capabilities.

In fact, as of last July, Parks Associates research found that 55% of recent security system buyers chose to install the system themselves, compared with just a third that opted for professional installation. However, many professional integrators are now hopping on the DIY bandwagon looking to make hay on the trend any way they can.

In fact, 40% of security dealers reported installing DIY systems in 2020, according to Parks Associates, which is up significantly from previous year. Additionally, nearly half of all security dealers see DIY as a new revenue opportunity that will attract different customers to the professionally installed systems they offer for businesses.

From the article "Pandemic accelerates adoption of smart home solutions" by Joel Griffin.

Previously In The News

Live TV Viewing Strong Among Millennials

In a study that examines live TV viewing, Parks Associates says consumers who have never had pay TV -- so called “cord nevers” -- spend about one-third of their TV viewing time watching live content,...

Walmart Beat Netflix and Amazon to Video on Demand But Still Lost

While Walmart sits on the streaming sidelines, the competition is moving on. Netflix’s subscription-based approach -- featuring cutting-edge, exclusive content such as “House of Cards” and “Stranger T...

Consumers Want Security Systems With Remote Monitoring

“Smart home adjacencies have helped revitalize the traditional security industry, but also create new competition," stated Dina Abdelrazik, research analyst at Parks Associates. "Consumers can create...

Amazon, Best Buy Team Up On New Smart TV Sets, But Can Alexa Beat Roku?

And as a stand-alone device attached to TVs to get streaming services, Roku leads Amazon substantially. According to a report from Parks Associates last year, Roku had a 37% share of the streaming dev...