Parks Associates: New Middle-Market Consumer Segment Represents 37% of Smart Home Households

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May 08, 2024, 08:09 ET

New white paper addresses emerging trends and unique needs of this market segment

DALLAS, May 8, 2024 /PRNewswire/ -- Research found in Parks Associates' new white paper, Middle Market: Lowering Barriers to the Smart Home, reveals an ongoing shift in the smart home as more mainstream US consumers adopt devices including video doorbells, smart cameras, and smart locks. This middle-market segment, part of the "early majority" in the US mass market, represents 37% of all smart home adopter households.

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The white paper, developed in partnership with SkyBell, profiles this new smart home user and assesses their unique needs, including how their expectations differ from the early adopters of smart home products. Middle Market: Lowering Barriers to the Smart Home provides strategies to grow the market by addressing barriers in perceptions of value and affordability, product complexity, and privacy and data security concerns.

"The connected home industry is entering a new phase where marketing and design efforts can be redirected toward a mainstream user," said Jennifer Kent, VP, Research, Parks Associates. "This middle market now makes up the largest segment of the market, and they have different needs, including a lower tolerance for product 'bugs' and complex value propositions. They prioritize pragmatic benefits over impressive technology features."

"SkyBell is reshaping how smart home technology is perceived and utilized by middle-market consumers. Our focus on integrating Safety, Security, and Trust, along with the option of professional installation, ensures that our products are not only top-tier in terms of quality but also accessible and user-friendly. This unique combination positions SkyBell as a catalyst for growth, enabling our partners to easily introduce these innovative solutions to a broader audience without the complexities typically associated with new technology deployments," said Desiree Mejia, Co-Founder and Chief Operations Officer, SkyBell Technologies.

"The industry can build familiarity and trust by focusing marketing materials on the ability of these products to enhance home environments and improve safety and comfort," Kent said. "This strategic shift is crucial for tapping into the larger market potential and ensuring the continued growth of smart home technology adoption."

To schedule an interview with an analyst or to request specific data, please contact Mindi Sue Sternblitz-Rubenstein at [email protected] or 972-490-1113.

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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Media Contact:
Mindi Sue Sternblitz-Rubenstein
Parks Associates
972.490.1113
[email protected]

SOURCE Parks Associates