“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 360 View Update: Consumer Demand for Connected Major Appliances by Parks Associates found that fewer than 5% of U.S. households currently own a smart appliance and less than a quarter (18%) of con...
WWE has been at the forefront of the media industry’s attempts to establish a business providing programming straight to viewers, without an intermediary like cable or satellite networks, while still...
Smart home products have to create new value if they are to be adopted. That’s the conclusion of a new study on various aspects of the Internet of Things, including smart lighting and other smart p...
Almost three quarters (71%) of U.S. consumers would want a move-in ready home and almost half (44%) of those define that as a home with smart home technology already installed. The survey of 1,300...
