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Parks Associates publishes whitepaper analyzing key trends in smart home

Parks Associates publishes whitepaper analyzing key trends in smart home Research firm looks at overall trends in security, connected health, consumer electronics and OTT

Parks Associates unveils whitepaper analyzing key trends in smart home

DALLAS—A new whitepaper from Parks Associates reports 40 percent of U.S. broadband households have trialed at least one over-the-top (OTT) video service during the COVID-19 crisis, while one-third of smart home device owners have increased usage of these products.

The whitepaper “2021 Consumer Tech Trends to Watch” highlights some of the biggest announcements from CES 2021 and the technology trends Parks Associates analysts believe will shape 2021.

Parks Associates’ research finds one-third of smart device owners in US broadband households have increased usage of their devices during the COVID-19 pandemic, including 46 percent of smart door lock owners. With consumers spending more time at home, they are finding more value in smart home and security use cases, driving new product announcements in these categories.

“Arlo and Alarm.com launched new touchless video doorbells,” said Parks Associates Senior Analyst Patrice Samuels. “Several companies have announced connected air quality measuring and purifying devices that may help reduce transmission of COVID-19. Lockly and BenjiLock also announced new biometric smart locks, continuing the trend from 2020.”

In the connected health space, demand for virtual care solutions, telehealth and remote patient monitoring has boomed in the wake of COVID-19.

“Seeing the success of TytoCare, companies have moved to launch new all-in-one remote patient monitoring devices into the market,” said Parks Associates Senior Analyst Kristen Hanich. “Technology-based patient monitoring overall has been well positioned, with leaders in this space offering new features and capabilities. While RPM has been the main focus, in-patient monitoring promises to amp up ICU capabilities.”

On the consumer electronics side of the equation, many product lines are looking to leverage the dramatic spike in OTT usage — subscriptions and viewing hours have increased and subscription rates for OTT services have risen from 71 percent of all U.S. broadband households to 78 percent in Q3 2020.

“As audiences remain in lockdown and COVID-19 continues to impact original content production schedules, library content continues to dominate in the streaming wars,” said Parks Associates Research Director Steve Nason. “Entertainment companies are looking for strategies to retain these new subscribers and emulate the live entertainment experience at home.”

Download “2021 Consumer Tech Trends to Watch” at http://www.parksassociates.com/whitepapers/ces-summary-2021.

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