Parks Associates: More than 50% of US Broadband Households with Three or More Smart Home Devices Also Own a Home Control System

KB Home, Lennar, Hippo, Verisk, Comcast, and Notion provide insights at CONNECTIONS on strategies to drive broader smart home adoption

News provided by

Parks Associates

May 09, 2019, 08:32 ET

DALLAS, May 9, 2019 /PRNewswire/ -- New research from Parks Associates shows more than 50% of US broadband households with three or more smart home devices also own a home control system, revealing the tipping point at which the majority of consumers want to consolidate control of their products. The research firm will host CONNECTIONS™, May 21-23 in San Francisco, featuring multiple sessions that address smart home adoption trends and new opportunities among insurers and builders to leverage their market position and capitalize on the smart home market.

Parks Associates: Home Control System Ownership by Smart Home Device Ownership Segment

Jacob Atalla, VP, Sustainability, KB Home, and David Kaiserman, President, Lennar Ventures, Lennar, will participate in the fireside chat "Builders: Key Channel for Smart Home Solutions" at 11:30 am on Thursday, May 23.

"Retail is the leading channel for smart home purchases, but as the smart home market as a whole has expanded, it opens new paths to market for insurance, homebuilders, and other channels to capitalize," said Brad Russell, Director, Connected Home, Parks Associates.

Parks Associates research shows smart garage door openers, smart thermostats, and smart irrigation controllers have the most diverse multichannel distribution. The most easily self-installed devices, such as lighting devices and smart plugs, capture the largest share of retail sales, but as smart home adoption expands, new sales channels can address the demand for more targeted, integrated solutions that interoperate across devices.

CONNECTIONS™ sessions will highlight the market opportunity for smart home integrations as standard in new homes, the potential for voice technology as a whole-home interface, and new emerging partnership opportunities.

"New residential properties provide a prime opportunity to incorporate smart home features from the ground up to increase home value and differentiate housing products," Russell said. "We look forward to hearing about the next stage of technology in new home construction."

"Insurance and Smart Home Products," a special session held on Tuesday, May 22 at 2:15 pm addresses how insurers can leverage smart home solutions to increase their value propositions. Speakers include:

Drew Doleski, Senior Product Manager - IoT, Connected Home, Verisk Analytics
Yuval Harry, Head, Partnerships, Hippo Insurance
Brett Jurgens, CEO, Notion
David Wechsler, Sr. Director Channels and Partnerships, Comcast

CONNECTIONS hosts 600+ industry executives with the key focus to explore integration, business, and marketing models of smart home, security, energy, connected health, and entertainment solutions to drive mass-market consumer adoption.

CONNECTIONS™ sponsors include F-Secure, Alarm.com, Rapid Response Monitoring, Verisk, Amber, AmTrust Specialty Risk, Arlo, Audio Analytic, Ayla Networks, Bitdefender, Cirrent, Firedome, Johnson Controls, Lutron, Mnubo, Oaks Labs, PassiveBolt, Schlage, Support.com, Trusource Labs, ULE Alliance, Universal Electronics, Wi-Charge, Zigbee Alliance, Control4, Flo Technologies, Owlcam, Zen Ecosystems, HP, SAM Seamless Network, HelloTech, Inspire, and Alula. Connected Car Corner, by InstallerNet, will feature companies with specific solutions and technology for the connected car.

To request data or an interview, contact Sherrelle Lewis at [email protected], 972-996-0214.

ABOUT CONNECTIONS

CONNECTIONS™ is the premier connected home event hosting more than 650 executives from the connected entertainment, IoT, and smart home industries. CONNECTIONS™ provides networking opportunities combined with visionary keynotes and conference sessions focused 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. The event also features a research workshop highlighting Parks Associates' smart home insight consumer data. www.connectionsus.com.

Media Contact:
Sherrelle Lewis
Parks Associates
972-996-0214
[email protected]

SOURCE Parks Associates