New consumer research evaluates the trends in smart product adoption

New consumer research from Parks Associates finds overall adoption of smart home devices has increased from 13% of U.S. broadband households in the second quarter of 2014 to 18% in the second quarter of 2015. Smart Product Adoption shows growth in smart home adoption is a combination of sales of existing product categories and an increase in the breadth of smart products entering the market.

“Consumer familiarity with smart home products and services is low. Therefore, manufacturers and service providers must educate consumers on the capabilities and benefits of smart home solutions,” said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates. “Channels seeing the most success are those that are able to connect with consumers and can provide an interactive discussion where consumers can ask questions to fully understand the capabilities and benefits.”

In a Parks Associates survey of consumer purchase preferences, consumers trust retailers over all other channels for smart home products, while security dealers are the second most trusted. Additionally, consumers’ channel preferences vary significantly by smart home product category. Of consumers planning to buy a smart home device, 24% of people shopping for networked security/monitoring cameras and 16% shopping for smart door locks would prefer to buy from a security dealer. By comparison, a retailer is the predominant channel for people looking to buy smart light bulbs and home/kitchen appliances.

Parks Associates will examinethe growing adoption of smart home products and its impact on energy management solutions and energy service providers, retailers, and manufacturers at the seventh-annual Smart Energy Summit: Engaging the Consumer, February 22-24, in Austin, Texas. During the executive summit, Parks Associates analysts, media, and industry leaders evaluate new partnerships, strategies for consumer engagement, and deployment plans for energy and management solutions in the connected home.

Smart Product Adoption evaluates the trends in smart product adoption, assesses consumer preferences for different channels to market, and identifies the impact of demographic attributes on adoption of smart home products. Report topics include:

• Overview of smart home product adoption based on consumer segments
• Demand for smart home adoption based on demographics, including age, gender, and income level
• Comparison of the leading brands in the smart home products market
• Breakdown of smart home device awareness and familiarity

Smart Product Adoption is available to purchase at www.parksassociates.com. To schedule an interview with Tom Kerber or to request specific smart home data, contact Holly Sprague at [email protected], 720.987.6614.

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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