Door & Window Market Magazine

“One-half of consumers view smart door locks and smart video door bells as unaffordable,” said Parks Associates research analyst Brad Russell in 2017. “This is a significant challenge for the smart-home market. The average price of a smart door lock is $220, while traditional non-connected door locks can be purchased for $80-$100. Innovators and early adopters clearly recognize the value of smart-home products, but the early majority of U.S. consumers sees only marginal value, w ...read more

“The smart home is in an early stage, where the primary perceived value is in the convenience of home automation,” said Jennifer Kent of Parks Associates, a consumer research firm. “Consumers are only now starting to conceive of the additional value derived when devices collaborate to deliver more intelligent services.”

However, security concerns might be a drag on even greater market growth.

Parks Associates recently announced new research showing that 60 percent of U.S ...read more