Providing market intelligence for more than 35 years

Smart Home

CONNECTIONS Summit Recap: Profitability in the Connected Home

Learn more about the CONNECTIONS Summit at CES session: Profitability in the Connected Home featuring speakers from VIZIO Ads, Silicon Labs, Zooz, Lutron Electronics, and GrandCare Systems®!

Jacob Alamat, Senior Vice President, Home and Life Business Unit, Silicon Labs, Inc.

We see many strong use cases today and in the future that are really driving hardware companies shift their models. How can they add value, where things are not just nice to have, but must have, like aging in place. Those that have challenges are trying to go it on their own, building too much complexity. It should be ecosystem oriented.

[Matter] offers a massive amount of benefits you no longer have to worry about. In my opinion, the ones that are going to benefit are people that embrace the change and adapt to it.

Melissa Andresko, Chief Corporate Brand Ambassador, Lutron Electronics Co., Inc.

Today, a lot of consumers are starting with one smart home product that is solving a problem for them. Not a lot of consumers are laying it all out ahead of time. The “works with” feature is an added bonus when they start adding more devices. We are seeing how the app can then suggest new devices to add.

We stay in touch with our customers via newsletters - it’s all about solving problems. Any way we can make life a little easier through technology, we will do so.

Travis Hockersmith, Group Vice President, Platform+, VIZIO

We worked on transforming the company to more of a software company. We found ways to monetize when you turn the TV on.

It takes a long time to build out standards. But Matter is being deployed across the world. Many people may want to have their own ecosystem, but there is a lot of benefit to having a large standard like Matter that can add more value to your products.

Agnes Lorenz, VP, Zooz

According to the European market, once you lower a price you can never go back and raise the price. In the United States, we know that’s not true at all.

You have to watch and learn how customers are reacting to pricing, but there are different cultures around it. If you are looking to scale, it’s something to keep in mind, and this is where partnerships come in handy.

Laura Mitchell, CEO, GrandCare Systems®

Our technology is focused on providing independence, meeting them where they’re at. It’s not about the tech, it’s about amplifying caregivers to make their job easier, helping people manage complicated tasks, allowing more independence and success. We don’t have enough caregivers. Using technologies together, interoperably can help.

We thought it was so important we don’t sell a plate of vegetables - we want to make sure there was something in it for [consumers]. You can provide a safer environment for [consumers] to engage with technology without a caregiver.

Looking to see CONNECTIONS in-person? CONNECTIONS: The Premier Connected Home Conference will be hosted May 13-15 at the Renaissance Dallas at Plano Legacy West Hotel - Click Here to Register!

More from Parks Associates

February 18, 2025

CONNECTIONS Summit Recap: Home Security: Trends and Transformations

Learn more about the CONNECTIONS Summit at CES session: Home Security: Trends and Transformations fe...

Read More

February 11, 2025

CONNECTIONS Summit Recap: Navigating the Multifamily IoT Markets

Learn more about the CONNECTIONS Summit at CES session: Navigating the Multifamily IoT Markets featu...

Read More

February 04, 2025

CONNECTIONS Summit Recap: Demand for Energy Management at Home

Learn more about the CONNECTIONS Summit at CES session: Demand for Energy Management at Home featuri...

Read More