Tag: Parks Associates

DALLAS—International research firm, Parks Associates, announced the launch of an online conference and networking experience, November 10-12, focused on the connected home and IoT industries. The research firm will host six webinars on key topics, sharing latest consumer data and insights, culminating in a three-day, virtual conference that will bring industry leaders together to network and discuss the growing smart home market. The firm’s latest research predicts by 2024, total annual revenue...

DALLAS—Parks Associates' Research Director Brad Russell shared some additional research with Security Systems News from Parks' “IoT: Extending Professional Monitoring for New Revenue” study that shows the value of professional monitoring is still strong despite recent challenges.The research addresses how innovative companies are driving new revenue by extending professional monitoring services and offerings within the connected home.Diving deeper into the numbers, monitoring revenue will...

DALLAS—Research firm Parks Associates forecasts professional monitoring revenue for the U.S. residential security sector will total $15.74 billion in 2020, with smart home services accounting for $1.2 billion.Parks’ “IoT: Extending Professional Monitoring for New Revenue” addresses how innovative companies are driving new revenue by extending professional monitoring services beyond residential security to new use cases in the connected home.“The number of connected devices continues...

DALLAS—Consumer Insights 2020 research from Parks Associates finds security system adoption, after holding steady at 25-28 percent for over five years, jumped up to 33 percent of U.S. broadband households at the end of 2019.This growth comes as consumers have more options, including DIY and ad hoc monitoring through smart home devices. Parks Associates research emphasizes that 2020 will bring new challenges to the security industry as the COVID-19 pandemic is rapidly impacting the economy and...

With most of us “sheltering at home,” and relying more and more on our devices to stay connected for work and family and friends, bandwidth limits in households across the U.S., and the globe, are being tested, to say the least. I know in my household, we probably have twice as many devices connected now, all day and night long. It can be draining both technologically speaking and emotionally as well, as I know many of us (especially those with spouses working from home and children learning...

DALLAS—Approximately 29 percent of U.S. broadband households now own a smart home device, a 20 percent growth rate from one year ago, according to new research from Parks Associates based on its 4Q 2019 survey of 10,000 broadband households. "Similar to CE devices, loss of wireless connectivity is the leading problem facing owners of smart home devices, followed by unresponsive devices," Parks Associates President Elizabeth Parks said in the announcement. "As market players look to expand beyond...

Research from Parks Associates shows that over the past six years, self-installed home security systems are gaining momentum, slowly, but traction no less, over professionally installed systems. Recent research from Parks found 51 percent of security system owners who acquired their security system in the past 12 months self-installed it. This is up from only 10 percent of security system owners who acquired their system six or more years ago. Additionally, 88 percent of self-installers report the...

Anyone who has fallen victim to the dreaded “porch pirates” can understand why the current smart home trend of in-home delivery of packages continues to catch on. Nothing sucks more than having video footage — from a video doorbell or camera — of someone grabbing your goods off your stoop and having no power to do anything about it. It is this convergence of technology and convenience that is driving interest in, and spending on, security. In fact, nearly half of consumers...

The battle for the smart home has raged on for quite some time now, with the big players like Amazon, Google and Apple making major plays to dominate the space. But, with the smart home market flooded with a ton of IoT devices — and many more to come — the new race is to see who will come up with the go-to platform to make all of these devices work in perfect harmony � I can dream, can't I? A new Parks Associates research report — Race to Control the Smart Home Ecosystem: Attracting...

DALLAS—New research from Parks Associates reveals at the end of 4Q 2018, 28 percent of U.S. broadband households reported the presence of an active security system, up from 26 percent in 4Q 2017, with 24 percent having professional monitoring.What is interesting, though, is Parks' Connected Trends & Disruption in Home Security reports that 52 percent of households that are highly likely to purchase a security system in the next 12 months plan to buy a system that is self-installed.“Professional...