Dealerscope

Parks Associates recently released a study that uncovered household spending on subscription over the top (OTT) services has been stagnant for the past three years. Average spending on these services has consistently come in under $8 monthly since 2016.

“The stability in average household spend belies the activity going on under the surface,” said Brett Sappington Senior Director of Research, Parks Associates. “2019 may be poised to break that trend. Netflix, Hulu, and Amazo ...read more

Smart speaker sales are soaring. There’s no denying that. But new research from Parks Associates helps put that data into context. The firm projects that total sales of smart speakers with digital voice assistants will hit 64 million in 2022. That’s a large number, especially considering there’s an estimated install base of just 118.5 million as of the end of 2018.

"Voice is emerging as a key complement to smart home device adoption and ownership, as it provides a simple met ...read more

Awareness and adoption of smart home products by everyday consumers has finally reached mass-market acceptance. According to Parks Associates, 48 percent of U.S. households with broadband intend to buy at least one smart home device this year, up by a whopping 66 percent over 2017. Brick-and-mortar retailers will play an important and profitable new role in this exploding sector. A solid omnichannel game plan has major advantages toward the smart home customer experience that ca ...read more

According to research released this week by Parks Associates, 27 percent of U.S. broadband-connected households made their most recent consumer electronics purchase through an online retailer. That figure, which Parks said was boosted in large part by smart speaker sales, is nearly triple the rate that consumers are shopping online in general.

From the article "Online CE Purchases Outpacing Rest of Ecommerce Industry, Study Finds" by Rob Stott.

Voice control is still in its infancy, but it’s clear that it’s catching on. Recent Parks Associates research suggests that voice assistant penetration will near 50 percent of U.S. broadband-connected homes within the next three to four years. Right now, the features users are most interested in include simple functions like turning TVs on and off or controlling the volume. But as Amazon and others continue to roll out these convenience- and security-based skills, consumers will ...read more

It’s taken a little while, relatively speaking, but smart speaker ownership finally appears to be taking off. According to the latest report released today by Parks Associates, ownership of smart speakers reached 27 percent of broadband households in the U.S. during Q1 2018. That’s up almost double the 15 percent in Q3 2017. The new research from Parks, part of their new “Global Connected Living Outlook” report, will be discussed during their CONNECTIONS Conference in San Franci ...read more

If new research from Parks Associates is to be believed, local consumer electronics retailers, integration companies, and manufacturers in the smart home space could find themselves an entirely new potential bucket of revenue that fills a major need for consumers. Hardware as a Service (HaaS, we’ll call it), essentially flips the present-day retail model on its head. Instead of selling products to consumers—specifically in the smart home space—businesses or brands may want to co ...read more

According to Parks Associates research released last summer, more than 100 million U.S. homes did not have a smart device in them at the end of 2016. That’s out of a possible 117 million households. By 2021, it’s expected that more than half of U.S. homes will be “smart homes.” This is a market segment that’s been slow to grow, but the potential—if brands can find a way to tap into it—is enormous.

From the article "4 Tech Markets that Have Something to Prove at CES 2018" by ...read more