DALLAS, TX--(Marketwired - Mar 6, 2014) - In advance of the Connected Home Developers Garage at SXSW next week, sponsored by iControl Networks, Silicon Labs and Time Warner Cable, Parks Associates announced new research indicating in-app purchases could generate new revenue sources for smart home systems. The research firm finds that between 57% and 73% of likely smart home buyers are interested in purchasing upgrades or additional equipment through the app in their smart home system, depending on potential system features.
"Mobile apps are transforming all aspects of the connected home, and the app in a smart home system will be prime real estate for communicating with subscribers and promoting new services and features," said Stuart Sikes, President, Parks Associates. "We look forward to presenting our research and analysis and discussing strategies to monetize the smart home alongside industry leaders such as iControl Networks, Time Warner Cable and Logitech."
Sikes will highlight new opportunities and market growth for the smart home ecosystem, including devices and apps, during the event on Sunday, March 9. The Connected Home Developers Garage at SXSW will be located at Silicon Labs' Austin headquarters at 200 West Cesar Chavez Street, 10:00 a.m. - 6:00 p.m., followed by a networking happy hour.
"We believe the market for connected home technology will continue to grow at a rapid pace, especially as people become more familiar with connected lifestyle products," said Jim Johnson, EVP and General Manager at iControl Networks. "Parks Associates will provide important insights into the audience for connected home products, and offer perspective on the business models and strategies that will succeed in meeting the evolving trend toward a more connected lifestyle, beginning in the home."
Highlights of Parks Associates' connected home research include:
- Total North American mobile app revenues will exceed $27 billion in 2018, fueled mainly by in-app purchases and in-app advertising revenues.
- 80% of U.S. wireless service subscribers own at least one smartphone.
- 46% of smartphone owners began using one for the first time within the last 2 years.
- 37% of U.S. broadband households access the Internet at home using a mobile phone.
"Partner Programs with app developers will be essential in moving the connected home market forward," Sikes said. "We look forward to supporting the effort to educate app developers at SXSW."
Register to attend, see the full schedule of speakers and learn more by visiting http://www.icontrol.com/sxsw/. To request an analyst interview or specific research data, please contact Holly Sprague at email@example.com or 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 through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions. http://www.parksassociates.com