“Companies will continue to adapt by finding new suppliers, adjusting product pricing, managing inventory more efficiently, and possibly rethinking entire supply chain strategies,” reports Elizabeth Parks, president and CMO of Parks Associates. “The new normal includes the continued rise in costs around materials, transportation, and labor seems to be becoming a more permanent fixture, impacting the bottom line.”
Optimism continues to abound about the potential of the Matter smart home standard. Parks Associates says 37% of U.S. internet households currently shopping for smart home products consider Matter certification to be important or even critical in their purchase decision.
“Consumers are increasingly looking for comprehensive offerings that go beyond hardware,” explains Parks. “Subscription-based services such as cloud storage, remote monitoring, and enhanced features are now critical differentiators. Companies are capitalizing on service revenue as a significant and stable income stream while solidifying customer loyalty.”
From the article, "2024 State Of The Industry: Guarded Optimism" by Stewart Wolpin
The number of U.S. ad-supported streaming households that report having recently used an ad-supported video-on-demand (AVOD) or free, ad-supported streaming (FAST) service leapt to 41% in this year’s...
Data and Privacy Protections: Building a Trusted Smart Home, co-hosted Park Associates and Iris Powered by Generali, provides insight into the changing relationship that brands and service providers n...
In October, research firm Parks Associates said in the past month, 31% of U.S. households reported watching an ad-supported video on demand or a free ad-supported streaming service – a 13% increase fr...
Parks Associates’ new research report has unveiled a promising outlook for the smart home market, projecting an annual revenue of $12.6 billion in 2027 for core smart home product categories. The Inte...
