"smart home" articles

Join Parks Associates’ Jennifer Kent , VP of Research and Chris White , Senior Analyst, for an interactive in-person session, on Thursday, September 29 at 11:30 AM and 3:00 PM CT at the 2022 CEDIA Expo at the Kay Bailey Hutchison Convention Center in Dallas, TX for insights on smart home technology. Panels and speakers include: Thursday, September 29 "The Role of Energy Management in the Future Home" Chris White , Senior...
 
by Parks Associates | Sep. 27, 2022
Tags: energy, industry event, smart home
Smart speakers and smart displays entered 2020 as one of the strongest-performing new consumer electronics categories since tablets and smartphones. Their upward trajectory has continued, now reaching over half of US internet households according to Parks Associates research. Smart speakers and smart displays are on their way to reaching levels of adoption and ubiquity not seen since perhaps the DVD player. To that end, the products are now in their third and fourth generations, and they...
 
by Elizabeth Parks | Sep. 21, 2022
Tags: connected CE, smart home, smart TV
As the technology used in smart homes and security systems grows in complexity, consumers opting for professionally installed and monitored systems rely on their providers' expertise for configuration and support. This requirement is a growing concern for smaller integrators who fear that support costs will increase dramatically by including home controls with their installations. But while dealers report smart home devices have a high impact on support costs, the interactive services of...
 
The challenges to securing the smart home create ample business opportunities across the value chain for security solutions. Security solutions at the level of hardware, network, or cloud platforms are vitally important to the success of IoT providers throughout the ecosystem. Data security or privacy issues concern 79% of consumers and this concern is one of the top three purchase inhibitors of smart home devices. Key trends include: Interest in device...
One unique market for smart space solutions is that of smart apartments and MDUs. Smart apartments feature smart amenities for residents, community management solutions, and building automation solutions. These solutions are growing in popularity among MDU property managers and owners in the US and Europe. In Europe, this is noted by investments in property management software, such as Plentific, which raised $100M in funding from Brookfield Asset Management, Highland Europe, and Target...
 
by Elizabeth Parks | Sep. 12, 2022
Tags: security, smart home, Whitepaper
AI and machine learning applications across verticals in the smart home ecosystem can draw on an array of data sources from the connected home. A device may constitute a single sensor, such as a motion sensor, though increasingly multi-sensors that bundle a collection of sensors in one device are becoming more common. AI benefits from being able to gather a variety of sensor data in order to better understand the home context. As connected devices continue to be added, data sharing among...
 
by Elizabeth Parks | Sep. 9, 2022
Tags: home safety, security, smart home
State Farm’s $1.2 billion investment in ADT for 15% stake in the company signals a turning point in the slow and somewhat tepid attention insurers have paid to the smart security space. Smart security products and systems stand to save insurers billions of dollars through proactive monitoring, detection, and deterrence for burglary, home, and fire damage. Parks Associates’ July 2022 research finds: 23% of US internet households have experienced water damage...
Connected devices are forming deep integrations in consumers’ lifestyles, with convenience, comfort, and peace of mind as the leading drivers of adoption. As their familiarity with smart home products increases, consumers will seek products that target their specific needs, which can range from lawn maintenance and irrigation to independent living and health monitoring. Co-marketing partnerships with brands in other industries such as energy providers, builders, and insurance companies...
 

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