Tuesday, May 21, 2019

Sales of connected consumer devices to exceed 520 million units by 2022

Parks Associates today released the new whitepaper Open for Business: Future Flexibility for Smart Home Services, which forecasts sales of connected consumer devices will exceed 520 million units by 2022, including networked cameras, security systems, and connected health devices. The whitepaper, sponsored by Calix, presents the opportunities emerging from this wealth of residential devices and details strategies for service providers to operate in the smart home market in ways that leverage their strengths while avoiding the pitfalls of past efforts.

“A future-flexible platform is a critical component for success in the IoT because smart strategies represent a long-term investment,” said Brad Russell, Research Director, Connected Home, Parks Associates. “While service providers are in an excellent position to deploy, maintain, and service the smart home, they generally do not want to develop and maintain their own proprietary solution to do so. But the market has matured where vendors are offering new turnkey solutions, and the right long-term partnership enables providers to serve the varied present and future use cases.”

Parks Associates Interest Add Ons Home Security Systems Installation Method

“Service providers need to re-position themselves for growth and gain a foothold in the smart home. The innovators are starting with tools that provide visibility into the home and supporting systems so they can deliver best-in-class whole-home Wi-Fi coverage,” said Michael Weening, EVP of field operations for Calix. “Once the foundational brands and systems are in place—such as those rapidly coming to market from tech giants—it will become increasingly difficult for new entrants to gain any traction. The opportunity is now.”

The whitepaper details consumer interest and willingness to pay for connected home services. Additional research from Open for Business: Future Flexibility for Smart Home Services:

  • More than half of professionally monitored subscribers have at least basic interactivity with their security system.
  • At the end of 2018, 24% of US broadband households subscribed to professional monitoring. 
  • 10% of US broadband households own at least one networked camera.
  • The majority of consumers 50+ years old are willing to pay $30 per month for an independent living system that has their must-have features, such as fire detection, panic buttons, automatic alerts sent to loved ones, and home security devices to deter intruders.
     

To download this whitepaper, visit https://parksassociates.com/whitepapers/openforbusiness-wp2019. To schedule an interview with an analyst or to request specific research data, please contact Sherrelle Lewis at sherrelle.lewis@parksassociates.com, 972-996-0214.

About Parks Associates: Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, Connected Health Summit: Engaging Consumers, and Future of Video: OTT, Pay TV, and Digital Media.

http://www.parksassociates.com

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