SOURCE: Parks Associates

Parks Associates

December 15, 2016 09:00 ET

Parks Associates announces "Top 10 Consumer IoT Trends in 2017" and players to watch in the new year

New industry research shows U.S. households own an average of 10 connected devices in 2016

DALLAS, TX--(Marketwired - Dec 15, 2016) - Parks Associates released a new whitepaper today ahead of CES® 2017 that identifies the top 10 trends impacting the markets for consumer technology now and into 2017. Top 10 Consumer IoT Trends in 2017 notes U.S. broadband households currently own an average of more than eight connected computing, entertainment, or mobile devices, plus another two connected home devices such as networked cameras, smart thermostats, or smart lighting. More than one-third of U.S broadband households also own a connected health device, and over 63 million broadband households subscribe to an OTT video service.

"Consumer interaction with the devices and services in their lives -- at home, in the car, on the go -- will continue to evolve in 2017 to be more personal and targeted," said Jennifer Kent, Director, Research Quality & Product Development, Parks Associates. "Approximately 50% of U.S. broadband households plan to buy a smart home device in the next 12 months, and they will tie these devices to their mobile platforms, broadband connections, and other devices to create a singular but ever-expanding user experience."

The top 10 trends identified by the IoT market research firm are the following:

1. Voice control is vying to become the primary user interface for the smart home and connected lifestyle.
2. The smartphone market plateaus, and mobile carriers experiment to retain subscribers, which will threaten fixed broadband services.
3. CE manufacturers focus on new product categories and ecosystem strategies to compensate for stagnation in a mature market.
4. Virtual and augmented reality gain a foothold in niche operations and greater awareness among early adopters, creating opportunities for social VR experiences.
5. The differences between on-demand and live viewing continue to blur as consumers embrace a variety of OTT video services.
6. Consumers increasingly expect connectivity in their cars, but pricing, safety, and data privacy concerns inhibit market growth.
7. To cross the chasm, the smart home industry will continue to develop new use cases for security, peace of mind, and energy management.
8. Insurers are exploring new business opportunities in smart home products and services and will continue to launch trials and new partnerships.
9. Wearables and smart watches are expanding as healthcare tools and will be integrated with other IoT applications.
10. Consumerization of healthcare services and devices drives integration with smart home ecosystems and new business models.

"The Internet of Things is driving the reinvention of consumer technology and entertainment markets," said Brett Sappington, Senior Research Director, Parks Associates. "New players and product categories are emerging that challenge traditional players with established business models and distribution channels. Online giants have the scale and technology to take risks in new areas of innovation. In some cases, these innovations are transforming whole sectors of the connected home."

The Parks Associates whitepaper also includes a list of the "Players to Watch in 2017" for the following categories:

  • Privacy/IT
  • Voice Control
  • Broadband
  • CE Brands
  • Virtual Reality
  • OTT
  • Connected Cars
  • Security/Smart Home
  • Insurance/Smart Home
  • Smart Watches
  • Connected Healthcare Devices

Parks Associates will discuss the trends and new research at its annual industry event CONNECTIONS™ Summit: Engaging Consumers: IoT and the Smart Home on January 5 at CES 2017, in the Venetian hotel, Level 4, Marcello 4405, in Las Vegas. Registration is available at http://bit.ly/CONN_Summit, and press passes are available at http://bit.ly/CONNSummitPress. All press must also secure a media pass through CES.

To download Top 10 Consumer IoT Trends in 2017, visit www.parksassociates.com/whitepapers. To schedule an analyst interview or to request specific data, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.

About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit: Engaging Consumers, and Smart Energy Summit: Engaging the Consumer. http://www.parksassociates.com

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