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The Gold Mine in the Work-at-Home Market
The number of work-at-home households
accounts for more than 43% of US households, and presents office equipment
manufacturers as well as service providers with a revenue gold mine, said Hongjun Li, Director of Research at Parks Associates.
Parks Associates divides work-at-home households into the following five categories:
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Telecommuters: people who are employed by an organization and work at home
for at least eight hours per week during scheduled business hours.
Full-time self-employed: people who are self-employed and
work from home for at least 30 hours per week.
Part-time self-employed
Moonlighters
Spillovers
On the basis of numerous national consumer studies that Parks Associates
has conducted over the past few years, Li estimates that at the end of 1998, there were
about 43 million US households with at least one work-at-homer. By the end of 2003, Li
says, the total number of work-at-home households will reach 52 million, with
telecommuters being the fastest growing segment (Figure 1).
Figure 1
The growth of the work-at-home market is attributed to three key drivers:
Technologies that enable people to work from their home;
Encouragement from employers and government agencies;
Consumers’ desire to have more control over their own lives through
telecommuting or a home-based business.
Because work-at-home households have a much larger adoption rate of
technology-based products and services (Figure 2), revenues from the work-at-home market
in 1998 exceeded $10 billion for office-related equipment (e.g., computers, printers, fax
machines, and telephone sets) and $60 billion for telecommunication and Internet services.
Parks Associates predicts that the fastest-growing revenue opportunities for the
work-at-home market will come from mobile telephony, dial-up and high-speed Internet
access, additional phone lines, and home networking.
Figure 2
About Parks Associates: Parks Associates is an
internationally recognized market research and consulting company specializing
in emerging consumer technology products and services. Founded in 1986, Parks
Associates creates research capital for companies ranging from Fortune 500 to
small start-ups through market reports, primary studies, consumer research,
custom research, workshops, executive conferences, and annual service
subscriptions.
The company's expertise includes new media, digital
entertainment and gaming, home networks, Internet and television services,
digital health, mobile applications and services, consumer electronics, and home
control systems and security.
Each year, Parks Associates hosts executive thought
leadership conferences CONNECTIONS™, with support from the Consumer Electronics Association (CEA®), and CONNECTIONS™ Europe. In addition, Parks
Associates produces the online publication Industry Insights in
conjunction with the CONNECTIONS™ Conference series.
http://www.parksassociates.com |
http://www.connectionsconference.com |
http://www.connectionseurope.com
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http://www.connectionsindustryinsights.com
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