Market Research Firm Announces Four New IoT Industry Reports

Parks Associates today announced four industry reports focusing on IoT smart home business models, home energy management, security, and smart lighting. These reports provide in-depth analysis of industry trends and consumer research and recommendations, forecasts, and partnership opportunities for players within these market segments.

“IoT Innovations are driving long-term changes in consumer behaviors and business models,” said Stuart Sikes, President, Parks Associates. “New smart home solutions and cloud services are influencing how consumers communicate and manage their households, while the potential of the IoT is bringing in new players, including the insurance industry. Insurance companies, by leveraging the capabilities of smart sensors and connected devices, can avoid risk and minimize payouts while extending value to their consumers through proactive monitoring that helps them avoid damage.”

According to Parks Associates’ IoT research:

• More than 30 million U.S. broadband households will have a home security system by 2019.
• 51% of U.S. broadband householders find an IoT device that alerts them to smoke and fire to be highly appealing.
• Smart light bulbs have reached 8% adoption among U.S. broadband households.
• 44% of U.S. broadband households are concerned about hidden costs associated with energy management systems.

“The focus of connected devices must be on the benefits to consumers,” Sikes said. “IoT adoption is tied to the ability to solve real customer problems. Monetization requires partnerships that make direct use of consumer data to provide a superior user experience.”

“Smart home solutions are monetized through a price premium delivered by differentiation, through alternative business models delivered by partnerships, or through operational efficiencies delivered by data,” said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates, “but IoT adoption is tied to solving real customer problems. Leaders in the smart home market will leverage new monetization models to unlock value for customers.”

Newly released industry research includes:

IoT: Smart Home Business Models shows how connectivity enables business model innovation and expands markets. It also outlines some of the key alternative business model options for energy providers, smart home product manufacturers, and service providers.

The Evolution of Home Energy Management provides an overview of home energy management solutions and opportunities enabled by smart products, smart home systems, distributed residential energy generation, and residential energy storage. It describes how technology will ultimately drive the evolution of home energy management.

The Evolution of Security and Smart Home examines the competitive forces in residential security as providers and manufacturers seek market expansion and enrichment through smart home system products and services. It also identifies and analyzes issues related to trends in technology, consumer behavior, channels to the consumer, and the impact of digital disruptors.

Smart Lighting Landscape for the Connected Home addresses the smart lighting ecosystem of products and services for the connected home, with attention to the industry segments for standalone lighting systems, lighting systems for self-installed home control platforms, lighting systems for interactive security services, and custom-installed lighting for whole-home systems. The report identifies key industry players, market drivers, and industry trends in lighting devices and systems and provides five-year forecasts for selected smart lighting devices.

For more information on Parks Associates research or events, visit www.parksassociates.com, or contact [email protected], 972-490-1113. Parks Associates will host Connected Health Summit: Engaging Consumer, on August 30 – September 1, 2016, in San Diego.

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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