International research firm hosts smart home tech sessions with global innovator LG Electronics 

Parks Associates will collaborate with smart appliance leader LG Electronics at Design & Construction Week to co-host educational sessions on how consumers are embracing new technologies in the home and the role of new features in expanding the use cases for connected devices.

Developments in AI and new partnerships are helping appliance manufacturers enhance the feature sets of smart appliances in an effort to meet core value propositions of improving convenience, minimizing waste, improving food quality, conserving energy, and improving safety, according to Parks Associates research.

“Consumers are embracing technology in new ways and have new expectations about technology in the home. Two-thirds of MDU (multi-dwelling unit) residents say they want smart home tech installed in their next apartment, and half say they would pay more in rent to for a tech-enabled home,” said Jennifer Kent, VP, Research, Parks Associates. “Across residence types, those that have technology already are searching for more, and smart home tech is a particular differentiator for home builders to add value.”

The sessions hosted during Design & Construction Week (the co-located International Builders’ Show® and Kitchen & Bath Industry Show®) will highlight Parks Associates’ latest data on smart appliances, energy management solutions, and green tech in the home and their impact on modern living for consumers. The most recent Parks data shows that now 37% of all US broadband households have a smart home device and 22% have at least one smart appliance.

Sessions, held Feb. 8-9 on the KBIS show floor (in the LG Booth W2029), will feature Parks Associates research insights and industry leaders sharing their vision of the connected home:

Tuesday, February 8

• 10:00 -10:45 AM, State of the Smart Home
• 2:00 - 2:45 PM, MDU Smart Apartment Scaling Up 
• 4:30 - 5:15 PM, Meeting Consumer Demand for Energy-Efficient Solutions

Wednesday, February 9

• 10:00 - 10:45 AM, Design for Modern Living: Connectivity Driving New Trends
• 2:00 - 2:45 PM, Smart Appliances: User Experience and Home Services
• 4:30 - 5:15 PM,  Modern Living: Consumers, Energy, and Sustainability

Sam Kim, President of Home Appliances at LG Electronics USA, said Parks Associates’ research insights presented at the show will provide important context for homebuilders and kitchen designers considering how to best integrate smart home technologies into their projects. “As consumers embrace connectivity, our goal at LG is to help bring a more valuable experience to the home – everything from energy management to safety solutions to convenience,” he said.

Kent said Parks Associates research of 10,000 broadband households shows:

• 36% of US broadband households have a security system, with 39% of systems purchased through security dealer channels.
• 85% of security dealers offer interactive services, driving incremental revenues for monthly service.
• 73% of US broadband households that own or are planning to buy a smart home device consider interoperability important.
• 27% of US broadband households report more concern about the physical security of their home than five years ago.
• 20% of US broadband households report that COVID-19 has increased their interest in smart energy solutions.

For more information, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific data, please contact Rosey Sera (Ulpino) at rosey@parksassociates.com or 972-490-1113.

About Parks Associates

Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com

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