Parks Associates addresses IoT trends at CES

Top 10 Trends Whitepaper

DALLAS, TX--(Marketwired - Jan 4, 2017) - International research firm Parks Associates announced new consumer research today showing 60% of U.S. broadband households are concerned about the security of smart home devices, including 45% who are very concerned. The firm's analysts will discuss the top trends at CONNECTIONS™ Summit tomorrow in Las Vegas, featuring six executive sessions on the smart home, the IoT, connected entertainment, and the potential impacts of security and privacy issues on the growth of these markets.

The research firm recently released the whitepaper Top 10 Consumer IoT Trends in 2017 ahead of CES, featuring insights from Parks Associates' analyst team on the key topics driving growth and monetization of the IoT.

"Roughly 60% of U.S. broadband households are concerned, with the majority very concerned, that someone will be able to access and control their smart home products," said Stuart Sikes, President, Parks Associates. "Privacy and support concerns are outpacing smart home adoption, which is currently at 26% of U.S. broadband households, and companies need to address these concerns to continue growth in these sectors. 2017 will offer companies multiple opportunities to take the lead in protecting consumer privacy and data."

Top 10 Consumer IoT Trends in 2017 addresses trends in the connected home, health, and mobile industries:

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.