“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
In the next decade, uptake and engagement is only expected to increase, with Parks Associates reporting that Smart TV adoption is set to increase by 31 percent each year. It seems the TV is very much...
“Health and wellness applications and services will play a large role in the smart home in 2017, driving innovations in security, wearables, and interoperability,” Harry Wang, senior director of resea...
"Ownership of smart home devices continues to increase, with some products passing 10 percent penetration in broadband households," Stuart Sikes, president at the research firm Parks Associates, obser...
“Parks Associates research estimates there will be nearly seven million new Western European households with a smart home controller in 2016,” Tom Kerber, director, IoT strategy at Parks Associates, s...
