New consumer study featured at 28th annual
CONNECTIONS™ Conference highlights connected home trends
DALLAS, April 30,
2024 /PRNewswire/ -- Parks
Associates' research finds that among smart home devices,
video devices lead in adoption, with 30% of internet households
owning either a smart camera or a smart video doorbell. These
devices then become key sources of recurring revenues, as the vast
majority of owners pay for an attached service, such as monitoring
or storage.
Parks Associates and leading industry players will address the
opportunities for service revenues at its upcoming CONNECTIONS™:
The Premier Connected Home Conference, May
7-9 at the Hilton
Dallas/Plano Granite Park Hotel in Plano, TX. The conference opens with the
session "Smart Home Integration: Progress and Barriers" at
3:15 PM on Tuesday, May 7. That
session features executives from Cox, Fortune Brands
Innovations, Kaadas, and Resideo, followed by the keynote
"Rocketship for the Mind," from Steve
Chazin, VP of Products, Alarm.com.
"The integration of video and notifications plays a pivotal role
in offering homeowners peace of mind and enhanced safety," said
Jennifer Kent, VP, Research, Parks
Associates. "Features such as real-time visual monitoring and
instant alerts ensure owners are informed."
Consumers are buying multiple products within the video device
category to cover multiple security points in the home. The average
number of smart cameras and/or smart video doorbells is 2.21 per
household, and strong market potential remains for both products.
Households value the ability to see who is at the door, whether
they are at home or not, and many video doorbells let them pretend
to be at home when away, which creates an added sense of
security.
About two-thirds of video device owners report paying for an
attached service, not including those with a security system. Video
provides an opportunity for service revenues, including high-dollar
services like professional monitoring.
"Expect more device manufacturers to add a video element to
their solutions, particularly access control players," Kent
said.
The research, found in the firm's flagship study Smart Home:
Integration, Automation, and Control, provides the
latest data on smart home trends and consumer purchase behavior and
preferences. The firm will present data throughout the event
featuring results and analysis of its quarterly surveys of
8,000-10,000 US internet households.
To schedule an interview with an analyst or to request specific
data, please contact Mindi Sue
Sternblitz-Rubenstein at 376954@email4pr.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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SOURCE Parks Associates