Security Leads Smart Home Market, Followed by Connected Lighting, Smart Thermostats
Safety and security are primary motivators for consumers adopting smart home solutions
DALLAS — Parks Associates has released new industry research reports on the smart home and connected devices indicating that security is leading the way in this market area followed by connected lighting and smart thermostats. The new reports provide in-depth analysis of industry trends and consumer research.
“Safety and security are the primary motivators for consumers adopting smart home solutions, so security households show a disproportionate level of ownership for smart home products,” said Stuart Sikes, president, Parks Associates. “While adoption of smart home devices is less than 20 percent among all U.S. broadband households, adoption is 35 percent among broadband households with security. Many new value propositions in areas such as energy and connected cars are now building on this foundation.”
Parks Associates research finds the most popular smart home devices are networked security cameras, followed by connected lighting and smart thermostats. Over 40 percent of thermostats sold in 2015 will be smart thermostats. Nearly 25 percent of vehicle drivers in U.S. broadband households find the ability for a connected car to automatically set a home “away mode” as very appealing.
The report “Dashboard to Smart Home: Apps and APIs” examines how apps and application programming interfaces (APIs) create new business opportunities for OEMs of connected home controls, service providers, and app developers. It also provides details of the business models and case studies on the use of apps and APIs in the smart home sector.
The report “Winning Smart Home Strategies for Energy Management” examines participation of connected products and smart home systems in energy management and includes descriptions and profiles of the evolving use of the cloud among companies and services for energy management and demand response.
For more information on Parks Associates’ research, visit www.parksassociates.com.
Publication date: 11/24/2015