"smart home" articles

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...

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...

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...

The momentum of insurance companies as a channel for the purchase or distribution of smart products is increasing. State Farms enormous investment in ADT is another example of ADT diversifying its strategy to capture all angles possible. This new partnership with State Farm, coupled with Google’s investment in ADT, is a huge signal that major players are recognizing the need for integration across ecosystems in the home. According to Parks Associates research, currently 4% of...

There is so much happening in the smart home these days. Parks Associates latest consumer research - household data nationally representative of the US market- shows the following adoption and usage: Over 12 million US internet households own a smart door lock 51% of smart home owners who have recently experienced at least one technical issue report loss of wireless connectivity Leading smart home companies took action in Q1 2022 to add more brand equity and new...

Research insights from Jennifer Kent, Ph.D. Vice President, Research Parks Associates The exact structure of industry supply chains naturally varies by industry, based on market needs, strategies of market leaders, and the legacy of a market’s historical development. The smart door lock and smart access control product industries have developed such that both established, and start-up OEMs do the vast majority of R&D, product iteration, manufacturing, and assemblage of...

“Across the nation, all sorts of internet service providers have gained two new competitors,” says Kristen Hanich, the research director for Parks Associates, referring to T-Mobile and Verizon. “They need to prepare for that accordingly.” “That puts [T-Mobile] at about the 10th largest internet service provider in the United States, basically coming out of nothing a year or so ago,” Hanich says. “There are a lot of people that only had one choice of internet...