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.”

“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 [email protected], 972-996-0214.

About Parks Associates: Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com
 

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