According to Parks Associates, consumer interest in smart home products is high, with 43% of U.S. broadband households surveyed indicating that they plan to purchase a smart home device this year, but actual sales of smart home products do not correlate to the indicated interest.
"Forty-three percent of US broadband households plan to buy a smart home product in 2019, but many markets have struggled to transform this interest into actual sales, specifically among new buyers," said Elizabeth Parks, president, Parks Associates. "Many of the most important innovations in the smart home in 2019 and looking ahead to 2020 focus on opening new channels and creating new experiences that will move consumers through the buyer's journey."
Other Parks data indicates:
- 35% of consumers report experiencing a data privacy or security issue in the past 12 months.
- Smart thermostats and networked cameras are the most highly adopted smart home devices.
- 25% of U.S. broadband households plan to buy a smart video doorbell in 2019; 25% also plan to buy a smart speaker with voice assistant in 2019.
- Incidence of DIY/self-installed security systems increased by 10% over the past two years.