SmartThings

Parks Associates: 29% of Former Demand Response (DR) Participants Say They Left The Program Because It Was No Longer Available

Retrieved on: 
Thursday, April 25, 2024
Trident, Alarm.com, Education, Interview, Communication, Conference, Original equipment manufacturer, Thermostat, Confusion, Public utility, Cardinal Peak, SmartThings, Name, Artificial intelligence

DALLAS, April 25, 2024 /PRNewswire/ -- Parks Associates' home energy management research reveals more consumers who churn from a utility program report low awareness or availability, rather than a lack of interest. Only 11% of past DR program users churned because they were uncomfortable during DR events, compared to 25% in Q4 2021. Leading churn factors were consumers reporting the DR program was no longer available (29%) or that the incentive was too low (25%). The number of churners who were unaware they had enrolled jumped from 6% in Q4 2021 to 14% in Q4 2023, further highlighting the need for better communication between consumers and their utilities.

Key Points: 
  • Only 11% of past DR program users churned because they were uncomfortable during DR events, compared to 25% in Q4 2021.
  • Leading churn factors were consumers reporting the DR program was no longer available (29%) or that the incentive was too low (25%).
  • Home Energy Management: Generation, Consumption, Demand Response examines trends and consumer interest in energy monitoring solutions, home solar, battery storage, and DR programs.
  • To schedule an interview with an analyst or to request specific data, please contact Mindi Sue Sternblitz-Rubenstein at [email protected] or 972-490-1113.

PARKS ASSOCIATES: CONNECTIONS™ TO ADDRESS GROWING ROLE OF AI IN THE SMART HOME

Retrieved on: 
Tuesday, April 23, 2024
Trident, Alarm.com, CMO, Internet, Smart, Pet, SMB, Mind, Conference, Research, Artificial intelligence, Facial recognition, SmartThings, Growth, Medical device

DALLAS, April 23, 2024 /PRNewswire/ -- Parks Associates will share its latest data on AI (artificial intelligence) solutions in the home at the 28th annual CONNECTIONS™: The Premier Connected Home Conference, hosted May 7-9 at the Hilton Dallas/Plano Granite Park Hotel in Plano, TX. The research firm reports video doorbell purchase intenders value the ability of products to differentiate pets and people, as well as facial recognition to identify people, which are AI-based capabilities designed to improve threat detection and reduce false alerts.

Key Points: 
  • CONNECTIONS™ brings together industry leaders to network, learn, and discuss trends in consumer demand, the latest innovations, and new business strategies for the connected home ecosystems and SMB markets.
  • "Advanced detection features enable video doorbells to operate as a security solution, creating new competition for security systems," said Elizabeth Parks , President and CMO, Parks Associates.
  • "Currently, 22% of internet households have a video doorbell, and we forecast continued growth for this specific device."
  • CONNECTIONS™ sessions highlight Parks Associates research and the evolving role of AI in the growth of the connected home.

Parks Associates: 18% of US Households Have Six Or More Smart Home Devices

Retrieved on: 
Wednesday, April 17, 2024
Trident, Alarm.com, Vivint, EPB, Cox, Internet, Sonos, Verizon Communications, ADT, Conference, Research, Speed networking, Imperial Capital, RapidSOS, Cardinal Peak, Marketing, SmartThings, Artificial intelligence, Consumer electronics

DALLAS, April 17, 2024 /PRNewswire/ -- Parks Associates' Smart Home Dashboard, quarterly consumer research featuring surveys of 8,000 and 10,000 US internet households, finds 45% of US internet households have at least one smart home device and 18% have six or more smart home devices. The research firm will feature its latest consumer and industry research on the smart home, security, energy, access control, monitoring, and broadband markets at the 28th annual CONNECTIONS™: The Premier Connected Home Conference, featuring keynote speakers from Vivint, Imperial Capital, EPB, Verizon, GVTC, RapidSOS, and Alarm.com.

Key Points: 
  • "Heading into 2024, the profile of the smart home adopter looks different than in the earlier years of the market," said Jennifer Kent , VP Research, Parks Associates.
  • "Mainstream households with 1-5 devices now outnumber the smart home-enthusiast households with 6+ devices.
  • "Companies are building out their ecosystems to maximize their sales potential and provide a better, more integrated experience to end users.
  • This makes the platform that much more important as a center point for control of the connected home."

Parks Associates: More Than Half of All US Households Say They Value the Energy-Saving Benefits of Smart Home Tech

Retrieved on: 
Thursday, April 11, 2024
Trident, Alarm.com, Leviton, ROI, CMO, Internet, Business development, Enablement, Conference, Research, Cardinal Peak, SmartThings, Growth, Artificial intelligence

DALLAS, April 11, 2024 /PRNewswire/ -- Parks Associates' latest research finds 52% of US internet households indicate automating savings and remotely controlling lights, thermostats, and appliances to save energy are valuable or highly valuable benefits for smart home devices. The research firm will share the latest data on the adoption of connected home technologies at its 28th annual CONNECTIONS™: The Premier Connected Home Conference, hosted May 7-9 at the Hilton Dallas/Plano Granite Park Hotel in Plano, TX.

Key Points: 
  • The executive conference features educational sessions focused on the next generation of home services, new revenue strategies, the role of AI in the smart home, insurance partnerships and risk reduction, and the role of interoperability.
  • "Purchase intentions for solar panels have dropped to 2018 levels after a peak of 12% at the end of 2021," said Elizabeth Parks , President and CMO, Parks Associates.
  • "High interest rates are a key factor in this drop, so the industry will need to work to show the ROI and explain the value of new technologies.
  • Throughout CONNECTIONS™, sessions will highlight Parks Associates research and the role of energy in the growth of the connected home.

U-tec to Show Smart Home Ecosystem U home at ISC West

Retrieved on: 
Monday, April 8, 2024
Samsung Kies, HomeKit, Amazon, Alexa, Amazon Alexa, Google Nest (smart speakers), Smart plug, SmartThings, AI, Human, NFC, Video game

LAS VEGAS, April 8, 2024 /PRNewswire/ -- U-tec, a leader in smart home solutions, will demonstrate U home – its latest smart home security & automation products at ISC West, April 9-12, 2024, booth 23089 at the Venetian Expo in Las Vegas.

Key Points: 
  • A smart home security and automation system U home includes the smart lock system ULTRALOQ, and new products the smart lighting system Bright, the AI security camera Ulticam, and the Smart Plug & Switch.
  • U home allows users to seamlessly control U-tec's ULTRALOQ smart locks, smart lights, plugs, switches, and cameras and is compatible with Apple Home, Alexa, Google Home, and SmartThings for voice control.
  • U home's smart devices will have Matter version, an inter-operative smart home standard.
  • ULTRALOQ Bolt Fingerprint –smart lock offering a six-in-one unlocking experience and multi-layered security; seamlessly integrates with Matter connectivity to create a unified smart home ecosystem.

Parks Associates: 40% of Smart Home Device Owners Who Use a Control Platform/Assistant Most Frequently Use Amazon or Ring

Retrieved on: 
Thursday, April 4, 2024
Trident, EPB, Conference, Growth, Communication, Amazon, Internet of things, SmartThings, Research, Internet, Interview, Alarm.com, Imperial Capital, Marketing, RapidSOS, Artificial intelligence, Online shopping

DALLAS, April 4, 2024 /PRNewswire/ -- Ahead of ISC West and the 28th annual CONNECTIONS™ Conference in May, Parks Associates today announced new research showing Amazon Echo/Alexa and Ring have expanded their lead as the most used platforms for smart home controls. The Smart Home Dashboard reports that among households who use a control platform or assistant, 40% use a Ring or Amazon Echo/Alexa platform most frequently, an increase from 33% in 2020.

Key Points: 
  • The Smart Home Dashboard reports that among households who use a control platform or assistant, 40% use a Ring or Amazon Echo/Alexa platform most frequently, an increase from 33% in 2020.
  • "Control platforms are a critical influencer on device choice for consumers," said Mindi Sue Sternblitz-Rubenstein , VP Marketing, Parks Associates.
  • "The leading platform players that also offer branded hardware seek to create an 'ecosystem effect' that encourages brand loyalty and repeat purchases.
  • Through the rapid growth of Ring and Nest, Amazon and Google have increased their influence on the smart home and security industry."

Parks Associates Hosts Dealer Day at the 28th Annual CONNECTIONS™: The Premier Connected Home Conference, Wednesday, May 8, 2024, at the Hilton Granite Park Hotel in Dallas/Plano

Retrieved on: 
Tuesday, March 26, 2024
Trident, Conference, Growth, Learning, Electronic, Partnership, SmartThings, Research, Internet, Alarm.com, RapidSOS, Cardinal Peak, CMO

DALLAS, March 26, 2024 /PRNewswire/ -- Parks Associates announced today it will host Dealer Day at CONNECTIONS™ on Wednesday, May 8, 2024, during the 28th annual CONNECTIONS™: The Premier Connected Home Conference. The research firm will host CONNECTIONS™ on May 7-9 at the Hilton Dallas/Plano Granite Park Hotel, with a special invitation for local and regional dealers, integrators, and installers to join on May 8 to network and attend educational sessions focused on the next generation of home services, new revenue strategies, the role of AI in the smart home, insurance partnerships and risk reduction, and the role of interoperability. 

Key Points: 
  • Parks Associates research shows that 42% of US internet households have some kind of home security solution, 17% own a smart thermostat, and 5% have a smart lighting system.
  • Consumers continue to add connected devices to their homes, creating more opportunity for integration and additional, value-added services.
  • The average US internet households has 17 connected devices, and Parks Associates forecasts annual revenues from core smart home product categories will be $12.6 billion in 2027.
  • Parks Associates' market research helps to track and assess the growth of residential and small-to-medium business markets.

Parks Associates: 54 Million Internet Households Have at Least One Smart Home Device

Retrieved on: 
Thursday, March 21, 2024
Trident, Consumer, SMB, Conference, SmartThings, Internet, Interview, Alarm.com, Marketing, Ecosystem, Enablement, Cardinal Peak

DALLAS, March 21, 2024 /PRNewswire/ -- Parks Associates today announced new research showing 45% of US internet households have a smart home device. The research firm will share its latest data on the adoption of connected home technologies, with sessions moderated by research analysts and featuring leading industry players at its 28th annual CONNECTIONS™: The Premier Connected Home Conference, hosted May 7-9 at the Hilton Dallas/Plano Granite Park Hotel in Plano, TX.

Key Points: 
  • Research firm announces speakers for 28th CONNECTIONS™ Conference, hosted May 7-9 in Texas
    DALLAS, March 21, 2024 /PRNewswire/ -- Parks Associates today announced new research showing 45% of US internet households have a smart home device.
  • Parks Associates' annual executive conference brings together industry leaders to network, learn, and discuss trends in consumer demand, new business models, and strategies for the connected home ecosystems.
  • In addition, the event covers the multifamily market and the small-to-medium business (SMB) market, both key growth areas for companies developing products and services.
  • "The population of smart home households is diversifying, from early adopters to include more mainstream consumers," said Mindi Sue Sternblitz-Rubenstein , VP, Marketing, Parks Associates.

Yeelight Joins Forces with Samsung Electronics to Debut at AWE2024, Boosting the Construction of Intelligent Exhibition Halls

Retrieved on: 
Wednesday, March 20, 2024
Temperature, Attention, Multimedia, Electronics, SmartThings, Samsung, Exhibition, Samsung Electronics, AWE, Mobile phone

At the AWE2024 venue, Yeelight and Samsung Electronics jointly showcased the focus on the linkage between smart homes and intelligent lighting.

Key Points: 
  • At the AWE2024 venue, Yeelight and Samsung Electronics jointly showcased the focus on the linkage between smart homes and intelligent lighting.
  • Samsung Electronics' smart home connectivity solution, SmartThings, can connect various smart devices to achieve cross-brand interoperability.
  • As a leading brand in intelligent lighting, Yeelight has always been committed to providing users with high-quality, innovative intelligent lighting products.
  • Yeelight's participation with Samsung Electronics at AWE2024 demonstrated to consumers a more convenient and intelligent lighting experience, showcasing Yeelight's contribution to the construction of intelligent exhibition halls.

Thirty-three Percent of Households with Insurance Would Switch Providers to Acquire Smart Home Devices

Retrieved on: 
Thursday, March 7, 2024
Trident, SmartThings, Internet, Nationwide, Internet of things, Growth, Resideo, Conference, Z-Wave, Insurance Information Institute, Insurance, Alarm.com, Home automation, Cardinal Peak, Kwikset, Interview, Cardiff Bay Opera House, Water, Partnership

DALLAS, March 7, 2024 /PRNewswire/ -- Parks Associates' research study, Insurance Opportunities in the Smart Home, finds that one-third of US internet households with homeowner's/renter's insurance would switch providers to acquire smart home devices. The study of 8,000 US internet households investigates consumer preferences for IoT devices that can impact insurance premiums or claims and evaluates the opportunity for IoT growth through the insurance channel.

Key Points: 
  • DALLAS, March 7, 2024 /PRNewswire/ -- Parks Associates' research study, Insurance Opportunities in the Smart Home , finds that one-third of US internet households with homeowner's/renter's insurance would switch providers to acquire smart home devices.
  • The study of 8,000 US internet households investigates consumer preferences for IoT devices that can impact insurance premiums or claims and evaluates the opportunity for IoT growth through the insurance channel.
  • Smart home devices can detect and prevent costly damages, particularly rated to water and faulty wiring.
  • Smart home devices can lure customers from their existing insurance providers and attract customers who are new to the home insurance category."