Amid a slowing economy and the threat of inflation, consumer spending slowed over 2022. Despite this, consumers remained invested in streaming video consumption, with a record-high 23% of internet households subscribed to nine or more services in Q1 2022, according to Parks Associates. The streaming device market is maturing rapidly as a result.
Parks Associates’ research reveals that 55% of US broadband households now own a smart TV. Additionally, 58% of those households use the smart TV as the device they access most frequently to watch streaming video. Further, 49% of US broadband households subscribe to four or more services as of Q3 2021. The research firm reports that companies should maximize their available market in this highly active and competitive business environment by supporting a varied mix of devices.
From the article, "Smart TVs: The Entertainment Centerpiece of the Home – Industry Voices: Parks" by Elizabeth Parks.
In addition, the device's interoperability will be important. According to a recent study by Parks Associates and reported in Retail Dive, 75% of consumers who plan to buy a smart home device believe...
Pay-TV operators are seeing a “slow erosion of the core business,” analyst at Parks Associates said. “After years of attempts to be more than just a ‘dumb pipe,’ pay-TV operators have come to reali...
Parks Associates revealed that 27% of U.S. car owners would connected cars to communicate with the Internet-connected devices in their home, such as smart garage door openers and door sensors. Park...
The tech giant is racing to catch up to the dominant streaming players. Amazon Prime Video is in 200 countries while Netflix is in more than 190 countries. Apple also has a smaller share of the str...
