Parks Associates reports 47% of U.S. broadband households do not intend to buy a smart home device

Parks Associates announced new research today showing 47% of U.S. broadband households do not own and do not intend to buy a smart home device in the next year. Value proposition and price are the top inhibitors—51% of these households do not see any value in smart home products and 41% feel they are too expensive. The research firm will host the 22^nd-annual CONNECTIONS™: The Premier Connected Home Conference on May 22-24 in San Francisco to discuss the landscape for connected solutions and new strategies in voice, UX, and use cases to drive broader consumer adoption.

“Smart home leaders promoted steep device discounts at the end of 2017, which chipped away at the perception that smart home devices are too expensive. The percentage of consumers who do not buy due to cost dropped from 49% at the beginning of 2017 to 41% at the end of the year,” said Brad Russell, Director, Connected Home, Parks Associates. “Similarly, voice control has helped boost consumer interest and awareness of smart home use cases by making the user experience more intuitive and enjoyable. However, roughly one-fourth of U.S. broadband households still see no personal value in smart home devices.”

CONNECTIONS™ will explore the strategies and new technologies, including new modes of interaction, that will continue to bring more consumers into the smart home markets. Russell will moderate the opening session Evolution of the Connected Consumer on at 3:00 p.m. on May 22. Industry executives will join Russell to discuss key trends in the smart home markets and the next steps necessary to move into the mass market.

Mark Spates, Product Lead for Smart Home, Google, will deliver the CONNECTIONS™ opening keynote on May 22, followed by the special session “User Interface: Extending the Experience for Consumers at Home,” sponsored by Intel and featuring Miles Kingston, General Manager, Smart Home Group, Intel Corp.

The 2018 CONNECTIONS™ conference will feature more than 650 executives in an intimate networking environment and will focus on innovations to improve the consumer UX and the IoT impact on multiple industries. The event includes conference sessions on technology adoption and trends, product and service forecasts, evaluation of new business strategies, and recommendations for strategic partnerships, monetization opportunities, and value-added service design.

Conference sponsors include Intel, F-Secure, Alarm.com, Rambus, Verisk, Zigbee Alliance, Rapid Response Monitoring, Affinegy, Alula, American Two-Way, Assurant, Audio Analytic, Ayla Networks, BASF, Calix, Cirrent, eyesight Technologies, Flume, Gadgeon, Intamac, iQor, Johnson Controls, mnubo, Qolsys, Toshiba, Tri Cascade, Trusource Labs, TUV Rheinland, Whisker Labs, Z-Wave, HelloTech, LeakSentinel, MivaTek, Fing, HomeAdvisor, and Mersoft.

For information, visit www.connectionsus.com. To schedule an interview with an analyst or to request specific data, contact Julia Homier at [email protected], 972-996-0214.

About CONNECTIONS™

Parks Associates' 27th annual CONNECTIONS™: The Premier Connected Home Conference features an in-person conference on May 23-25, 2023 and multiple virtual sessions hosted throughout 2023. The event focuses on the adoption of technology including smart home, security, connected health, energy, and home automation.

Bringing together more than 1,500 senior executives, CONNECTIONS™ provides networking opportunities combined with visionary keynotes and virtual sessions. The Parks Associates analyst team leads all conference sessions, which are focused on technology innovations, consumer adoption and trends, product and service forecasts, and the evaluation of new business strategies, partnerships, monetization opportunities, and value-added service design.

Throughout the event, sponsors offer demos during networking events, spotlighting new technology innovations and services for the entertainment, mobile, and smart home market segments.

CONNECTIONS™ 2023 features an in-person conference on May 23-25, 2023, with virtual sessions on March 2, July 20, and October 5. For more information, contact [email protected], call 972-490-1113, visit www.connectionsconference.com.

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