Providing market intelligence for more than 35 years

Smart Home

Drivers and Inhibitors for Purchasing Smart Home Products

Prior to Parks Associates’ 14th-annual CONNECTIONS™ Europe: Strategies for Security and Smart Home, Thomas Rockmann Vice President Consumer IoT, Deutsche Telekom AG gave his insights on drivers and inhibitors for purchasing smart home products with the firm's analyst team.

Thomas will present the keynote Integrated Smart Services: Key Drivers for Telcos on Tuesday, 19 November at 9:30. 

What are the biggest challenges and barriers for new Smart Home products and services in Europe?

There are several challenges for new Smart Home products and services:

  • Customers have not fully understood the benefits of Smart Home
  • At first, customers focus on single use case solutions instead of purchasing integrated systems
  • Pricing of Smart Home solutions is challenging, as customers are not ready to pay monthly fees for the service
  • Data privacy concerns have to be addressed and managed carefully to ensure that customer trust the service provider


How is the role of the service provider changing in the Smart Home market?

The role of the service providers has changed and will continue to change in the market:

  • In general the smart home market and all kinds of connected devices are a great opportunity for service providers
  • Service providers are facing new competitors in the smart home segment, not only by cable providers and other telcos, but also by market participants like Amazon and Google
  • Differentiation in the smart home market on top of connectivity is very important for service providers
  • Key assets are the management of connectivity and being a trusted partner for consumers in the fields of service, data privacy, installation services, security
  • Telcos could address this opportunity with the right bundling of smart home services fitting best to their market positioning

More from Parks Associates

September 19, 2024

Next-Gen Scaling Connectivity for Multifamily Properties

Fast, secure, reliable connectivity is now an expectation at multifamily residences. Residents need...

Read More

August 20, 2024

Parks Associates Announces Cardinal Peak as Research Sponsor

Parks Associates Announces Cardinal Peak, an FPT Software Company, as Research Sponsor for CONNECTIO...

Read More

August 22, 2024

WireStar Networks Announces Sponsorship for SmartSpaces Conference 2024

WireStar Networks has announced they will be the breakfast sponsor for Parks Associates’ 2024 Smart...

Read More
Phone:
972-490-1113
Mailing Address:
Parks Associates 5080 Spectrum Drive, Suite 1000W Addison, TX 75001 USA
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Broadband Small-to-medium Business (SMB) Connected Health
Services
Research Services: Custom and Consulting Research Projects Streaming Video Tracker Security Tracker Smart Home Tracker
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces Upcoming Industry Events
Resources
Press Releases Analyst Blog Parks in the News Connected Consumer Podcast 
About Us
Overview Team Contact Us
Store
View Your Cart

Follow Us to stay informed

© 2023-2024 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive