According to Parks Associates research, 50% of U.S broadband households will own at least one smart home device by 2020. Already, 13% of U.S. broadband homes own some type of smart home device. Smart home solutions continue to grow at a rapid pace, and industry leaders within the smart home market are reporting year-over-year growth at over 100%.

Parks Associates and Greenwave Systems recently presented new smart home industry data during a complimentary webcast, "Key Competitive Elements for Smart Home Service Providers." Parks Associates director of research Tom Kerber, alongside Nate Williams and Jim Hunter from Greenwave, outlined strategies for long-term IoT success by achieving rapid innovation at scale.

Research highlights from the webcast included:

• Frequency and type of problems consumers experience when setting up new smart home devices
• Average number of connected devices owned per U.S. broadband household
• Average video consumption per week on multiscreen platforms

Download the webcast recording and slide deck by clicking here.

Further Reading:

• 62% of Consumers Unfamiliar with Smart Home Products or Services
• The Internet of Things: Business Models & Opportunities
• Overwhelming Interest in Interoperable Smart Home Products in Europe