Adoption of connected point solutions and the advent of smart speakers drive demand for smart home platforms

Adoption of Connected Point Solutions and the Advent of Smart Speakers Drive Demand for Smart Home Platforms

By , June 20, 2019

According to Parks Associates research, 28% of US broadband households now own at least one smart home device, and device-owning households own an average of six devices in their home. A newly published Parks Associates report, Race to Control the Smart Home Ecosystem: Attracting Partners, states that as device adoption continues to increase each year, smart home platforms will help establish order out of the chaos that comes from the steady influx of connected devices in consumers’ homes.

The report reviews strategies of major smart home platforms in the consumer electronics and security industries and their approach to attracting manufacturers to their ecosystem. The report answers the following questions:

Who are the major smart home ecosystem players by category?
How is the rise of voice-first control platforms affecting smart home ecosystems?
How can smart home ecosystems help the smart home industry overcome interoperability issues and concerns?
What are the smart home platform strategies of the leading CE and security industry players?
What approach are these companies taking to attract manufacturers to their ecosystem?

The report reveals that when implementing a smart home ecosystem in their home, consumers care less about name brands of key devices and more about a seamless experience where all devices in the ecosystem work together smoothly. Consumer preferences favor vertically-aligned players, such as Comcast and Vivint Smart Home, which have introduced their own branded devices to optimize the experience on their platforms while also maximizing profits.

US broadband households highly familiar with smart home platforms increased across all platforms from the end of 2017 to the end of 2018. Amazon Alexa and Google Assistant saw the biggest jumps of all listed platforms—voice control is a key factor in driving consumer interest in the smart home and the adoption of multiple devices per household. Companies competing in the smart home ecosystem can leverage platforms to provide a reliable, interoperable ecosystem with a simplified user experience and deliver expanded value through enhanced features such as cloud intelligence and data privacy and security.

For more information on Race to Control the Smart Home Ecosystem: Attracting Partners, contact sales@parksassociates.com.

Further Reading:

Smart Home: Products And Services

Consumer Electronics And Entertainment

Broadband And Mobility

Connected Health And Wellness

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Adoption of Connected Point Solutions and the Advent of Smart Speakers Drive Demand for Smart Home Platforms

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