New research from Parks Associates shows COVID-19 has amplified concerns around the safety and security of property and family members, driving consumers to seek solutions from integrators.
New research from Parks Associates reveals COVID-19 has significantly impacted consumer behavior and has heightened concerns for safety and security, with 64% of consumers reconsidering at least one lifestyle change as a result of the pandemic.
“Consumers are making long-term lifestyle changes in response to the COVID-19 crisis,” says Patrice Samuels, senior analyst, Parks Associates. “As consumers invest in their homes, adoption of smart home solutions is expanding. Connectivity provides new ways to solve problems, and consumers are willing to spend money to improve their day-to-day lives.”
Parks says COVID-19 has amplified concerns around the safety and security of property and family members, driving consumers to seek solutions for these heightened needs. The research shows 61% of U.S. broadband households are highly concerned about the health and safety of their children and 35% are very concerned about the health and safety of an aging loved one who lives alone or with a caregiver.
“Smart home device manufacturers and service providers are developing new solutions catered to the unique needs of MDUs, a key end-market segment for smart home brands,” says Elizabeth Parks, president, Parks Associates. “There is a huge opportunity for U.S. MDU property managers, with the potential to generate $1.9 billion annually for additional rental features and services.”
From the article "Research Shows COVID-19 Elevates Smart Home Security Use, Increases Safety Concerns" by CE Pro Editors.
In a November column Parks Associates’ Eric Sorensen, director of Streaming Video Tracker, zeroed in on the growth of ad-supported streaming and evolution of formats. “Innovative ad formats, such a...
Elizabeth Parks, president of Parks Associates was quoted in USA Today this week as saying: “It’s a challenging time for service providers to make the money work. It makes sense that there will be a l...
Parks Associates has reported that smartwatch adoption has jumped by 35 percent in 2023. While smart technology combines aesthetics and function, there have been some new developments in the medical f...
According to a fresh report from Parks Associates, one in five U.S. households with internet access in the home possess a television antenna. At the same time, 12% of these households do not have a TV...