Blog articles from 09/2022

Join leading industry executives and analysts in discussing the entertainment services landscape at Parks Associates’ Future of Video 2022 event series which continues on Thursday, September 22 at 11 AM CT with the session “ Digital Piracy and Distribution ”. Panelists will discuss new trends in the video and connected entertainment industries, as well as share insight into consumer behaviors, in-depth research on OTT services, and strategies for building successful video...

As the technology used in smart homes and security systems grows in complexity, consumers opting for professionally installed and monitored systems rely on their providers' expertise for configuration and support. This requirement is a growing concern for smaller integrators who fear that support costs will increase dramatically by including home controls with their installations. But while dealers report smart home devices have a high impact on support costs, the interactive services of...

While traditional appliances are self-contained with all the components and the user controls in one cabinet, home systems are not. Components are located where optimal and interconnected electronically via a home network. Home systems have been designed with customer features tailored to a range of use cases, including lighting, energy management, environmental comfort, entertainment, healthcare, and safety. Each application is organized around a controller that manages connected...

The challenges to securing the smart home create ample business opportunities across the value chain for security solutions. Security solutions at the level of hardware, network, or cloud platforms are vitally important to the success of IoT providers throughout the ecosystem. Data security or privacy issues concern 79% of consumers and this concern is one of the top three purchase inhibitors of smart home devices. Key trends include: Interest in device...

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...