Providing market intelligence for more than 35 years

In The News

Research Shows COVID-19 Elevates Smart Home Security Use, Increases Safety Concerns

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. 

Previously In The News

More People Are Considering Buying an Antenna To Watch News, Sports, TV Shows, and Movies

Twenty percent of U.S. internet households own a TV antenna, according to research firm Parks Associates’ ATSC 3.0: Impact and Opportunity for Video Services industry report. It also found that 12% mo...

Judgment Day Is Coming For Streaming Services Not Named Netflix Or Amazon

While consolidation might seem obvious given the challenges in the market, it will likely take longer than most people think, Parks Associates analyst Eric Sorensen told IBD. That's because of a host...

Synamedia CTO shares 2024 predictions

With streaming service churn rate holding steady at 47 per cent globally according to Parks Associates, the argument for retention centers back on content availability and user experience. Viewers wil...

Research: 20% US households own TV antenna

Findings from technology research firm Parks Associates’ report, ATSC 3.0: Impact and Opportunity for Video Services, reveal that 20 per cent of US Internet households own a television antenna and...