Parks Associates Addresses Consumer Lifestyle Changes and Impact of Pandemic on Tech Use at Home at 24th Annual CONNECTIONS Conference

International research firm reports 30% of consumers own a smart home device, 52% intend to purchase a smart home device in the next 12 months, and 67% own and use at least one internet-connected video device

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Parks Associates

Nov 11, 2020, 08:17 ET

DALLAS, Nov. 11, 2020 /PRNewswire/ -- International research firm Parks Associates welcomes connected home ecosystem players this week during its CONNECTIONS™ Community Virtual Sessions, hosted as part of the 24^th annual CONNECTIONS conference in 2020. The firm, celebrating its 35^th year in 2021, is sharing its latest consumer and industry data highlighting growth strategies, case studies, and recommendations for the smart home, connected health, tech support, energy management, and consumer electronic industries.

Parks Associates reports that 30% of US broadband households own at least one a smart home device and 52% intend to purchase a smart home device in the next 12 months. Currently 67% of US broadband households own and use at least one internet-connected video device, and usage of broadband and other home services has increased dramatically over the past six months, as have NPS scores for service providers, as a result of the COVID-19 pandemic.

"Consumers have made dramatic changes in their lives this year, repositioning the home as the true center for all aspects of daily life," said Elizabeth Parks, President, Parks Associates. "2021 will be a year of further expansion for connectivity in the home, with consumers adopting and experimenting with innovative and useful solutions. We are excited to bring industry players together to talk about current and future challenges and opportunities."

CONNECTIONS™ visionary speakers include representatives from AARP, ADT, Alarm.com, ANGI Homeservices/Handy, Comcast, CommScope, CUJO AI, Electronic Caregiver, EnergyHub, Frontdoor Home, KPN Ventures, Mill Creek Residential, Nokia, Rapid Response Monitoring, and Vivint Smart Home.

CONNECTIONS™ Community Sponsors include Sutherland Global Services, Alarm.com, Bitdefender, Nice, Cox, Intellithings, Cirrent, Everise, MMB Networks, ServiceLive, Zen Ecosystems, Firedome, Inspire, Mercku, Olibra, Ossiaco, Plume, Tuya, Zigbee Alliance, Z-Wave, Aprilaire, Asurion, Gadgeon, and Wi-Charge.

Parks Associates data:

Professional monitoring revenue for the US residential security sector will total $15.74 billion in 2020, with smart home services accounting for $1.2 billion.
41% of US broadband households are concerned about hackers getting access to their devices.
64% of smart home device owners report setting up at least one smart home device themselves, and 51% experienced at least one type of problem when setting up their device.
As a result of the COVID-19 pandemic, 26% of US broadband households are more interested in smart home solutions that keep their home and family safe, and 24% are more interested in whole-home Wi-Fi solutions.
Adoption of home control systems experienced a 38% year-over-year growth rate in 2019.
In May 2020, 41% of US broadband households reported using a telehealth service in the past 12 months, up from 15% from the previous year, due in large part to the COVID-19 pandemic.
US households will have an average of 20 connected devices by 2025.

CONNECTIONS™ provides networking opportunities combined with visionary keynotes and conference sessions focused on technology innovations, consumer research, product and service adoption and trends.

To request data or an interview, contact Rosey Ulpino, [email protected], 972-490-1113.

About CONNECTIONS™

Parks Associates' 24th annual CONNECTIONS™ is a virtual conference focused on technology innovations, consumer research on adoption and trends, and product and service forecasts. www.connectionsconference.com

Contact:

Rosey Ulpino
Parks Associates
972-490-1113
[email protected]

SOURCE Parks Associates