Parks Associates: More Than 40% of U.S. Broadband Households Plan to Buy a Smart Home Device in Next 12 Months

CONNECTIONS™ Summit at CES® sessions feature executives from Google, Intel, ADT, Comcast, Samsung, and more IoT leaders

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Nov 07, 2017, 07:30 ET

DALLAS, Nov. 7, 2017 /PRNewswire/ -- Parks Associates today announced new research showing 41% of U.S. broadband households plan to purchase a smart home product in the next 12 months, including 27% with high purchase intentions. The most popular devices include smart smoke/CO detectors, thermostats, and lightbulbs. The international research firm, which predicts U.S. broadband households will buy almost 55 million smart home devices in 2020, hosts the 12th-annual CONNECTIONS™ Summit: IoT and the Smart Home on January 9 at CES® 2018 in Las Vegas.

Parks Associates: Interest in Water, Fire, and Anti-theft Products with Detection/Prevention Features

CONNECTIONS™ Summit features multiple sessions on the smart home to examine mass-market business strategies, partnership opportunities, the impact of voice on the user experience, and advances in AI and data analytics. CONNECTIONS™ Summit sponsors include Homematic IP, Vivint Smart Home, Brilliant, Carrier, Cirrent, Deutsche Telekom, Greenwave Systems, Hive, Intel, iQor, LUX Products, mnubo, Plasmatic Technologies, ROC-Connect, and Zigbee Alliance.

"Consumer intentions to buy smart home products are strong, but there are multiple steps the industry can take to turn these intentions to reality," said Elizabeth Parks, EVP, Parks Associates. "At CONNECTIONS™ Summit, we will discuss strategies to educate consumers, reduce price sensitivity, and enable new use cases regarding smart home products, including innovations that will reduce costs and enhance value propositions in new platforms."

Confirmed Speakers:

eQ-3 AG – Bernd Grohmann, EVP
ADT – Jay Darfler, SVP, Emerging Markets
Alarm.com – Lainie Muller, Director Wellness
Brilliant – Aaron Emigh, CEO & Co-founder
Carrier – Pamela Hoppel, Senior Director, Product Marketing
Centrica Connected Home (Hive) – Nina Bhatia, Managing Director
Cirrent – Rob Conant, CEO
Comcast – Scott Boyarsky, VP, Digital Home Products
CUJO – Leon Kuperman, CTO
Deutsche Telekom – Thomas Rockmann, VP Connected Home
Google – Mark Spates, Product
Greenwave Systems – Jim Hunter, Chief Scientist & Technology Evangelist
HelloTech – Richard Wolpert, Co-Founder & CEO
Intel – Miles Kingston, GM, Smart Home Group
iQor – Autumn Braswell, COO, Global Solutions, Marketing, LinQ
LUX Products – Rob Munin, CEO
mnubo – Jules Perrot, Global Sales Manager
Nest Labs – Jeff Hamel, Head, Energy Partnerships
Plasmatic Technologies – Tony Mauro, CTO
People Power – Stuart Sikes, VP Business Development & Strategy
ROC-Connect – Marcus Scheiber, CEO
Samsung Electronics America – Bill Lee, VP & GM, Smart Home Product Marketing
Sensory – Todd Mozer, CEO
Trusource Labs – Alton Martin, Co-Founder/Chief Evangelist
Vivint Smart Home – Jeremy Warren, CTO
Whisker Labs – Amena Ali, CRO
Zigbee Alliance – Tobin Richardson, President & CEO

Additional Parks Associates research:

60% of U.S. broadband households with insurance are interested in a smart home product that can detect, notify, or prevent damage or loss from water or fire or theft.
Approximately 75% of U.S. broadband households with insurance who are interested in smart products are willing to let the devices automatically communicate with insurance companies.
More than one-third of consumers in the market for a smart home device would find a recommendation from an insurance company "very important."
The security industry is the largest channel for smart home systems and a strong channel for numerous smart product categories, including door locks and networked video cameras.

For information on Parks Associates, visit www.parksassociates.com. To schedule an interview or request research, contact Julia Homier at [email protected].

About CONNECTIONS™ Summit at CES
CONNECTIONS™ Summit is an annual research and industry event that features panel discussions on the smart home, Internet of Things (IoT), and connected entertainment, with trends and implications for connected consumers and opportunities for new revenues and innovative business models. http//www.connectionssummit.com

Media Contact:
Julia Homier
Parks Associates
972.996.0214
[email protected]

SOURCE Parks Associates