International research firm reports 30% of consumers own a smart home device, 52% intend to purchase a smart home device in the next 12 months, and 67% own and use at least one internet-connected video device
International research firm Parks Associates welcomes connected home ecosystem players this week during its CONNECTIONS™ Community Virtual Sessions, hosted as part the 24th annual CONNECTIONS conference in 2020. The firm, celebrating its 35th year in 2021, is sharing its latest consumer and industry data highlighting growth strategies, case studies, and recommendations for the smart home, connected health, tech support, energy management, and consumer electronic industries.
Parks Associates reports that 30% of US broadband households own at least one a smart home device and 52% intend to purchase a smart home device in the next 12 months. Currently 67% of US broadband households own and use at least one internet-connected video device, and usage of broadband and other home services has increased dramatically over the past six months, as have NPS scores for service providers, as a result of the COVID-19 pandemic.
“Consumers have made dramatic changes in their lives this year, repositioning the home as the true center for all aspects of daily life,” said Elizabeth Parks, President, Parks Associates. “2021 will be a year of further expansion for connectivity in the home, with consumers adopting and experimenting with innovative and useful solutions. We are excited to bring industry players together to talk about current and future challenges and opportunities.”
CONNECTIONS™ visionary speakers include representatives from AARP, ADT, Alarm.com, ANGI Homeservices/Handy, Comcast, CommScope, CUJO AI, Electronic Caregiver, EnergyHub, Frontdoor Home, KPN Ventures, Mill Creek Residential, Nokia, Rapid Response Monitoring, and Vivint Smart Home.
CONNECTIONS™ Community Sponsors include Sutherland Global Services, Alarm.com, Bitdefender, Nice, Cox, Intellithings, Cirrent, Everise, MMB Networks, ServiceLive, Zen Ecosystems, Firedome, Inspire, Mercku, Olibra, Ossiaco, Plume, Tuya, Zigbee Alliance, Z-Wave, Aprilaire, Asurion, Gadgeon, and Wi-Charge.
Parks Associates data:
- Professional monitoring revenue for the US residential security sector will total $15.74 billion in 2020, with smart home services accounting for $1.2 billion.
- 41% of US broadband households are concerned about hackers getting access to their devices.
- 64% of smart home device owners report setting up at least one smart home device themselves, and 51% experienced at least one type of problem when setting up their device.
- As a result of the COVID-19 pandemic, 26% of US broadband households are more interested in smart home solutions that keep their home and family safe, and 24% are more interested in whole-home Wi-Fi solutions.
- Adoption of home control systems experienced a 38% year-over-year growth rate in 2019.
- In May 2020, 41% of US broadband households reported using a telehealth service in the past 12 months, up from 15% from the previous year, due in large part to the COVID-19 pandemic.
- US households will have an average of 20 connected devices by 2025.
CONNECTIONS™ provides networking opportunities combined with visionary keynotes and conference sessions focused on technology innovations, consumer research, product and service adoption and trends.
To request data or an interview, contact Rosey Ulpino, rosey.ulpino@parksassociates.com, 972-490-1113.
About CONNECTIONS™
Parks Associates' 29th annual CONNECTIONS™: The Premier Connected Home Conference is hosted May 13-15 at Renaissance Dallas at Plano Legacy in Plano, Texas, and brings industry leaders together to provide insights and business forecasting about the adoption of technology including broadband, smart home, security, connected health, energy, and home automation.
CONNECTIONS™ provides ongoing insights throughout the year with virtual and in-person conference sessions. Parks Associates' analyst team leads the conference sessions, which are focused on technology innovations, consumer adoption and trends, product and service forecasts, and the evaluation of new business strategies, partnerships, monetization opportunities, and value-added service design.
CONNECTIONS™ is a pivotal platform for partnerships and exploring the future of technology adoption and its impact on consumers and businesses. www.connectionsus.com
