DALLAS, Nov. 7, 2017 /PRNewswire/ -- Parks Associates today announced new research showing 41% of U.S. broadband households plan to purchase a smart home product in the next 12 months, including 27% with high purchase intentions. The most popular devices include smart smoke/CO detectors, thermostats, and lightbulbs. The international research firm, which predicts U.S. broadband households will buy almost 55 million smart home devices in 2020, hosts the 12th-annual CONNECTIONS™ Summit: IoT and the Smart Home on January 9 at CES® 2018 in Las Vegas.
CONNECTIONS™ Summit features multiple sessions on the smart home to examine mass-market business strategies, partnership opportunities, the impact of voice on the user experience, and advances in AI and data analytics. CONNECTIONS™ Summit sponsors include Homematic IP, Vivint Smart Home, Brilliant, Carrier, Cirrent, Deutsche Telekom, Greenwave Systems, Hive, Intel, iQor, LUX Products, mnubo, Plasmatic Technologies, ROC-Connect, and Zigbee Alliance.
"Consumer intentions to buy smart home products are strong, but there are multiple steps the industry can take to turn these intentions to reality," said Elizabeth Parks, EVP, Parks Associates. "At CONNECTIONS™ Summit, we will discuss strategies to educate consumers, reduce price sensitivity, and enable new use cases regarding smart home products, including innovations that will reduce costs and enhance value propositions in new platforms."
eQ-3 AG – Bernd Grohmann, EVP ADT – Jay Darfler, SVP, Emerging Markets Alarm.com – Lainie Muller, Director Wellness Brilliant – Aaron Emigh, CEO & Co-founder Carrier – Pamela Hoppel, Senior Director, Product Marketing Centrica Connected Home (Hive) – Nina Bhatia, Managing Director Cirrent – Rob Conant, CEO Comcast – Scott Boyarsky, VP, Digital Home Products CUJO – Leon Kuperman, CTO Deutsche Telekom – Thomas Rockmann, VP Connected Home Google – Mark Spates, Product Greenwave Systems – Jim Hunter, Chief Scientist & Technology Evangelist HelloTech – Richard Wolpert, Co-Founder & CEO Intel – Miles Kingston, GM, Smart Home Group iQor – Autumn Braswell, COO, Global Solutions, Marketing, LinQ LUX Products – Rob Munin, CEO mnubo – Jules Perrot, Global Sales Manager Nest Labs – Jeff Hamel, Head, Energy Partnerships Plasmatic Technologies – Tony Mauro, CTO People Power – Stuart Sikes, VP Business Development & Strategy ROC-Connect – Marcus Scheiber, CEO Samsung Electronics America – Bill Lee, VP & GM, Smart Home Product Marketing Sensory – Todd Mozer, CEO Trusource Labs – Alton Martin, Co-Founder/Chief Evangelist Vivint Smart Home – Jeremy Warren, CTO Whisker Labs – Amena Ali, CRO Zigbee Alliance – Tobin Richardson, President & CEO
Additional Parks Associates research:
60% of U.S. broadband households with insurance are interested in a smart home product that can detect, notify, or prevent damage or loss from water or fire or theft.
Approximately 75% of U.S. broadband households with insurance who are interested in smart products are willing to let the devices automatically communicate with insurance companies.
More than one-third of consumers in the market for a smart home device would find a recommendation from an insurance company "very important."
The security industry is the largest channel for smart home systems and a strong channel for numerous smart product categories, including door locks and networked video cameras.
About CONNECTIONS™ Summit at CES CONNECTIONS™ Summit is an annual research and industry event that features panel discussions on the smart home, Internet of Things (IoT), and connected entertainment, with trends and implications for connected consumers and opportunities for new revenues and innovative business models. http//www.connectionssummit.com