The report also found that 25 percent of dealers report providing fee deferments or relief to customers during COVID-19, professionally installed systems have declined by nearly 25 percent since 2017 and the sales of DIY systems have increased by nearly 60 percent since 2017.
The new study, “COVID-19: Impact on Residential Security and Smart Home,” details changes to purchase or upgrade intentions regarding security systems due to the COVID-19 pandemic.
The report, “Connected Home Services: Updating Modern Lifestyles” identifies unique strategies device manufacturers are using to drive recurring revenues by maximizing the value of smart home devices for consumers.
Forty-four percent of U.S. broadband households who do not own or intend to purchase a smart home device perceive the devices as too expensive, so as more manufacturers deploy low-cost products with advanced features, the market could start to overcome this barrier.
Parks Associates’ new research, COVID-19: Impact on Telehealth Use and Perspectives, finds over 50 percent of U.S. broadband households are willing to share smartphone data to aid in COVID-19 contact tracing, while another 20 percent could be convinced provided privacy protections are in place.
International research firm Parks Associates announced the launch of the CONNECTIONS Community, an online conference and networking experience focused on the connected home and IoT industries.
New research from Parks Associates' Smart Home Buyer Journey and User Experience, a survey of 10,000 broadband households fielded at the end of 2019, reveals that adoption of home control systems experienced a 38 percent year-over-year growth rate.
