According to Parks Associates, U.S. broadband households will buy almost 55 million smart home devices in 2020. Currently many smart home devices, including smart thermostats, lights, locks and networked cameras, are still in the early adopter stage, at adoption levels less than 15% of U.S. households.

"Collectively U.S. adoption of smart home products is nearing the threshold of the early majority, thanks to marketing efforts of large players, popularity of voice-based products, lower product costs, and a focus on the consumer experience in the purchase process," said Elizabeth Parks, SVP, Parks Associates. "And consumers are beginning to recognize the value propositions of platforms such as smart video door bells and smart thermostats, which is boosting their adoption both for household use and as gifts."