Friday, August 16, 2019

Unit sales for new smart home controllers will reach nearly 14 million in 2024

Smart Home Tracker analyzes key trends, including new security and privacy protection innovations in the US smart home space

New research from Parks Associates’ Smart Home Tracker: Market Sizing and Trends estimates nearly 14 million new smart home controllers will be sold in the US in 2024. The tracker provides industry insights and analysis on the latest trends in the smart home space, including the need for new privacy protection and authentication measures.

“Device manufacturers are increasingly aware of the negative impact of security and privacy concerns on smart home industry growth, so major players including Google and Amazon are designing device features to restrict accessibility to consumer data,” said Patrice Samuels, Senior Analyst, Parks Associates. “Over the past few months, companies have taken measures that also demonstrate a commitment to improving consumer online privacy.”

Parks Associates research finds only 37% of US broadband households trust that companies with access to their data will keep it safe.

In addition to online data security, the Smart Home Tracker also examines innovations to improve the physical security of devices.

“The development of facial and fingerprint authentication allows device manufacturers to establish a level of security stronger than voice but still convenient to the consumer,” Samuels said. “Ultimately, voice technology will develop, where unique voices can be used for biometric authentication in and of itself, but current far-field voice recognition technology is not yet up to the security challenge.”

Other highlights from Parks Associates’ Smart Home Tracker:

  • The smart home industry is pouring resources into after-sales support.
  • Insurance providers continue to seek inroads into the smart home space.
  • Connectivity issues continue to threaten the smart home user experience.


Smart Home Tracker provides a market-sizing summary of devices and services in the connected home space and highlights news on major market moves, product updates, and new product launches, including new smart thermostats from ecobee and Savant, the first video doorbell from Momentum, and the new Vivint Outdoor Camera Pro.

Smart Home Tracker provides industry insights and analysis on artificial intelligence, cloud services, data analytics, interoperability solutions and networking, product innovation, user interface innovation, and more.

For more information about Parks Associates’ research, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific data, 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 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, Connected Health Summit: Engaging Consumers, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

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