Parks Associates: U.S. Broadband Households Will Buy Almost 55 Million Smart Home Devices in 2020

DALLAS, Nov. 15, 2017 /PRNewswire/ -- Parks Associates today announced research showing U.S. broadband households will buy almost 55 million smart home devices in 2020. Currently many smart home devices, including smart thermostats, lights, locks, and networked cameras, are still in the early adopter stage, at adoption levels less than 15% of U.S. households. The international IoT research firm will host CONNECTIONS™ Summit at CES on January 9 in Las Vegas to discuss challenges and opportunities in developing connected IoT solutions that will engage mass-market consumers.

"Collectively U.S. adoption of smart home products is nearing the threshold of the early majority, thanks to marketing efforts of large players, popularity of voice-based products, lower product costs, and a focus on the consumer experience in the purchase process," said Elizabeth Parks, SVP, Parks Associates. "And consumers are beginning to recognize the value propositions of platforms such as smart video door bells and smart thermostats, which is boosting their adoption both for household use and as gifts."

Brad Russell, Research Director, Connected Home, Parks Associates, will moderate the session "Smart Home Platforms: Unlocking Consumer Value" at 9:00 a.m. on Tuesday, January 9. This session examines strategies to align user experiences with expectations while unlocking additional value through connected IoT platforms. Joining Russell on the panel are the following speakers:

• Nina Bhatia, Managing Director, Centrica Connected Home (Hive)
• Bernd Grohmann, Executive Vice President, eQ-3 AG
• Thomas Rockmann, VP Connected Home, Deutsche Telekom AG
• Marcus Scheiber, CEO, ROC-Connect

CONNECTIONS™ Summit will also feature a special session, "Moving the Smart Home beyond Early Adopters," at 10:15 a.m. on Tuesday, January 9. This special session focuses on the challenges associated with the transition from early adopters to the early majority and how industry giants are positioning their products and services to make that leap. Presenters at this session include:

• Scott Boyarsky, Vice President, Digital Home Products, Comcast
• Jeff Hamel, Head of Energy Partnerships, Nest Labs

For more information on Parks Associates' research or events, visit www.parksassociates.com, or contact [email protected], 972-490-1113. To schedule an interview with an analyst or to request specific research data, please contact Julia Homier at [email protected].

About CONNECTIONS™ Summit at CES
CONNECTIONS™ Summit at CES is an annual research and industry event hosted by international research firm Parks Associates at CES in Las Vegas. The executive event features one day of panel discussions on the smart home, Internet of Things (IoT), and connected entertainment, with trends and implications for connected consumers and opportunities for companies to build new revenues and innovative business models.

The 2018 CONNECTIONS™ Summit features panels examining successful consumer-focused strategies in designing and deploying IoT, smart home, and connected CE and health solutions. Leading analysts from host Parks Associates present consumer research and moderate expert discussions on crossover opportunities among these ecosystems, with insights on emerging trends, including AI, voice controls, and growing privacy concerns.

The 2018 CONNECTIONS™ Summit will take place January 9 during CES, which runs January 9-12 in Las Vegas. Follow the event on Twitter at @CONN_Summit. http//www.connectionssummit.com

Media Contact:
Julia Homier
Parks Associates
972.996.0214
[email protected]

SOURCE Parks Associates

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