Wednesday, June 30, 2010

Parks Associates forecasts home controls to jump from 6% to almost 20% of U.S. households by 2014

Energy management, entertainment systems control, and remote home monitoring to drive adoption of home controls  

The home controls market must focus on individual applications, such as entertainment and energy management, to overcome current inhibitors and boost its penetration beyond the present 6% of U.S. households, according to international research firm Parks Associates.

The firm’s report Home Systems: Home Controls – Analysis and Forecasts finds low consumer awareness and a shortage of affordable installation services currently hinder widespread adoption. The entry of well-known players, including ADT, Best Buy, Radio Shack, and Schlage, will help grow this market, but players should focus their value proposition on specific, easily understood applications in order to build consumer awareness and lay the foundation for future expansion.

“Three applications will drive adoption of control systems over the next five years: energy management, entertainment systems and content control, and remote home self-monitoring,” said Bill Ablondi, director, home systems research, Parks Associates. “Consumers see the value in these areas, which, once established, can serve as the base for expanded control systems in the home.”

Parks Associatse Home Controls Market Forecast

For example, as entertainment controls for home theater and audio systems become more affordable, penetration will expand from 5% of U.S. households to 17% by 2014. These systems can then be expanded to integrate lighting, window treatments, and security controls, a strategy that will help push penetration of control systems overall to almost 20% of households by 2014.

Home Systems: Home Controls – Analysis and Forecasts offers in-depth analyses and forecasts for the home controls market. For more information, visit http://www.parksassociates.com or contact 972-490-1113, sales@parksassociates.com.

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

Next: MEDIA ALERT: Parks Associates presents new consumer data at CEDIA Expo
Previous: Security monitoring revenues increase despite declines in sales and home construction

Comments

    Be the first to leave a comment.

Post a Comment

Have a comment? Login or create an account to start a discussion.

© 1998-2019 Parks Associates. All Rights Reserved.