Research firm finds TV and Internet as the leading marketing channels to drive smart home awareness

IoT research from Parks Associates shows less than 30% of U.S. broadband households are familiar with where to buy smart home products or services. Among these households, nearly 40% prefer to purchase these products at retail outlets, particularly home improvement stores.

“In addressing the low consumer awareness for smart home solutions, all players have ample opportunities to make inroads in this early market,” said Eddie Accomando, Research Analyst, Parks Associates. “Roughly 40% of the U.S. broadband households familiar with smart home products or services learned about them from TV or the Internet. In 2016 we are seeing smart home companies develop more robust TV and Internet consumer marketing strategies to reach the consumers who don’t know where to buy smart home products.”

Parks Associates notes that service providers, with the exception of home security providers, rate far behind retailers as the preferred channel for smart home products. Among U.S. broadband households familiar with the purchase channels for smart home products or services, 31% would prefer a home security provider, 23% would prefer an Internet service provider, and only 12% would prefer a pay-TV provider.

360 View Update: Go-to-Market Strategy for IoT: Consumer Insights shows smart home products and services will increase exponentially in relevance and adoption over the next decade. In 2016, 24% of U.S. broadband households plan to buy a smart lighting solution, such as smart light bulbs or smart in-wall outlets/switches, and 11% plan to buy a smart thermostat. Currently, 9% of U.S. broadband households own a smart thermostat, and 9% own smart lighting.

“To move the smart home from early adopters to the mass market, companies and industry players must address low consumer awareness,” Accomando said. “Even radio has a role in promoting smart home awareness—27% of current smart home owners found out about the companies that offer smart home products and services through the radio.”

Go-to-Market Strategy for IoT: Consumer Insights examines smart home product and service familiarity in the current marketplace. It presents the current state of the home security market and updates analysis on the smart home product market with new data. Details about how to leverage marketing channels to drive product adoption within particular segments provide current companies with a way to evaluate their current strategy to address this still nascent market.

More information on Parks Associates’Go-to-Market Strategy for IoT: Consumer Insights is available at www.parksassociates.com.To schedule an interview with an analyst or to request specific research data, please contact Holly Sprague at [email protected].

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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