Showing posts with label Parks Associates. Show all posts
Showing posts with label Parks Associates. Show all posts

Wednesday, February 10, 2021

24% of US broadband households with fixed broadband service likely to upgrade in the next six months

24% of US broadband households with fixed #broadband service likely to upgrade in the next six months | #TpromoCom #Trending | New research addresses continuing impact of #COVID19 on broadband usage, CE product adoption, OTT service stacking, and churn rates https://bit.ly/3cYvxj5

Parks Associates today released a new Quantified Consumer study, COVID-19: Impact on Communications and Entertainment, which reveals that in 3Q 2020, more than 50% of US broadband households reported that their broadband usage has increased since the start of the COVID-19 crisis. While consumers report broadband performance is keeping pace with the increased demand, in Q3 2020, 24% of fixed broadband households reported plans to upgrade their speed in the next six months, compared to 18% in 2Q 2020.

“Broadband upgrade plans indicate many households see some COVID-19-related changes as permanent,” said Steve Nason, Research Director, Parks Associates. “For video services, OTT service stacking has been particularly pronounced, with 45% of US broadband households subscribing to three or more OTT services. Many consumers are planning to add new services such as Disney+, Apple TV+, HBO Max, and Peacock as a permanent part of their OTT service portfolio, beyond the traditional Big 3: Netflix, Amazon Prime Video, and Hulu.”

COVID-19: Impact on Communications and Entertainment examines the impact of COVID-19 on service providers and consumer adoption and satisfaction throughout the communications, consumer technology, and entertainment and home services sectors. The research reports COVID-19 continues to widen the OTT/pay-TV gap. As many across the US remain homebound, households are continually relying on video content to fill their time outside of work and school. Within video services, COVID-19 has accelerated the trend of video viewers accessing OTT offerings at much higher rates than a pay-TV service via a traditional or online provider.

“Many traditional pay-TV subscribers are migrating to online pay-TV offerings or standalone OTT services,” Nason said. “Traditional providers, who still comprise the majority of the pay-TV market, have to continually seek ways to integrate online video services into their offerings either through homegrown solutions or external partnerships.”

For more information on COVID-19: Impact on Communications and Entertainment and other studies, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific research data, please contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.




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Thursday, January 28, 2021

43% of US broadband households with traditional pay TV are likely to switch to a vMVPD in next 12 months


43% of US broadband households with traditional pay TV are likely to switch to a vMVPD in next 12 months
| #Tpromo.com #TV #Entertainment #Parks #Report | 
Industry report examines the growth of vMVPD sector in the pay-TV market and future-facing challenges https://bit.ly/3onC8FT

Just released research from Parks Associates reveals 43% of US broadband households with traditional pay TV are likely to switch to a virtual multichannel video programming distributor (vMVPD) in the next 12 months. The research, found in Growth and Challenges for vMVPDsshows that while the absence of live sports and live performances during the COVID-19 pandemic created challenges for vMVPDs, the successful services like Hulu + Live TV and YouTube TV have been able to push the advantages in pricing, content, and platform flexibility to drive growth. The report examines the growth of this sector in the pay-TV market, the strategies and outlook for market players, and the challenges ahead for vMVPDs and the pay-TV market as a whole.


“Subscriber losses in traditional pay TV continue, while the vMVPD category continues to grow, thanks to consumer price sensitivity and preferences for platform flexibility,” said Paul Erickson, Senior Analyst, Parks Associates. “Traditional pay-TV operators have online delivery in their roadmaps, if not already deployed. We expect vMVPDs will continue to grow dramatically and will gradually become the dominant offering in the pay-TV landscape.”

The report also reveals 17% of vMVPD subscribers switched from traditional pay TV within the last twelve months. The factors driving pay-TV defections include pricing and perceived value, while consumers positively respond to the flexibility of vMVPDs to deliver unique and targeted content packages on a variety of connected entertainment platforms.

Prior to the pandemic’s effects on streaming video consumption, vMVPD subscriber growth was waning, with some vMVPDs posting continued losses. Though COVID-19 has driven growth and in some cases recovery in the category, recent increases in vMVPD pricing make it uncertain how consumers will respond long term.

“vMVPDs have substantial opportunity if they can avoid the pitfalls that typically drive pay-TV customer dissatisfaction, such as rising prices and inflexible content and platform options. With content prices rising and competition increasing, vMVPDs should remain conscious of consumer price sensitivity while keeping a strict adherence to a consumer-centric experience,” Erickson said.

For more information on Growth and Challenges for vMVPDs, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific research data, please contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.





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Tuesday, January 12, 2021

More than 20 million US broadband households do not plan to buy a smart home device due to perceived high prices


More than 20 million US broadband households do not plan to buy a smart home device due to perceived high prices | #TpromoCom #ParksAssociates #SmartHome #HomeAutomation | CONNECTIONS™ Summit at CES features Silicon Labs, Nice, Plume, AmTrust, Alarm.com, Essence, Airties, and more (#Verdafero) https://bit.ly/35BgZBl

Research from Parks Associates finds the top three inhibitors to smart home adoption are perceived high prices, lack of a clear value proposition, and data/privacy concerns. Among the 44% of US broadband households that do not intend to buy a smart home device, representing 46.7 million households, 44% (20.5 million households) perceive these devices are too expensive; 38% (17.7 million households) don’t see the benefit of these devices; and 35% (16.3 million) have data and privacy concerns. 

Parks Associates will share ownership and usage trends of smart home, security, connected health, and home automation solutions at the 15th annual CONNECTIONS™ Summit: Smart Home Growth Strategies, taking place virtually January 14, in partnership with CES® 2021.




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Wednesday, January 6, 2021

Average number of networked cameras among device owners increases to 3.4 from 1.9 in 2018


Average number of networked cameras among device owners increases to 3.4 from 1.9 in 2018 
| #TpromoCom #Event #VideoSurveillance #Cameras | ADT, Alarm.com, Yonomi, Nice, Notion, Brinks Home Security, and SimpliSafe to share insights on smart home and home security at CONNECTIONS™ Summit at CES http://bit.ly/3nmLuRs

Parks Associates’ new Smart Product Market Assessment research finds US broadband households with networked cameras now own on average 3.4 of these devices, a rapid increase from less than two devices in early 2018. Additionally, over one-third of those who bought a smart video doorbell in the past 12 months are first-time buyers. The firm will host the 15th annual CONNECTIONS™ Summit: Smart Home Growth Strategies virtually on January 14, in cooperation with CES® 2021, featuring executives from ADT, Alarm.com, Brinks Home Security, Nice, Notion, SimpliSafe, and Yonomi.

“Households with smart home devices continue to purchase additional devices, driving growth as they embrace DIY options and seek to protect multiple access points and locations in their home,” said Elizabeth Parks, President, Parks Associates. “Companies can maximize their approach in this market by attracting new buyers while also developing and marketing features and use cases that address multidevice ownership.”

CONNECTIONS™ Summit, sponsored by Alarm.com, AmTrust Financial Services, and Airties, features sessions on smart home technology and services, connected health, data privacy, value-added services, and home security. Parks Associates analysts and industry executives will explore the impact as work, school, and entertainment use cases increase demand on smart home functionality and capabilities. Speakers will also discuss new consumer behaviors in DIY and new opportunities emerging as households adopt and integrate multiple connected devices.

The virtual sessions Smart Home Platforms: Simplifying the Experience, 10 am CT on Thursday, January 14, and Home Security Growth: DIY and Pro Channels, 1 pm CT, explore the user experience and the changing business models for smart home and home security solutions.

Speakers:

Anne Ferguson, VP, Marketing, Alarm.com

Raya Sevilla, SVP Information Technology, ADT

Sumati Stewart, SVP of Sales and Marketing, Yonomi

Mark Owen Burson, VP Marketing & Product Management, Nice North America

Brett Jurgens, CEO and Co-Founder, Notion, a Comcast Company 

Min Kang, Chief Product and Strategy Officer, Brinks Home Security  

Matt Wolf, Head of Partnerships, SimpliSafe  

Parks Associates surveys 10,000 US broadband households each quarter, providing a rich data set with trending for at least five years. The firm will feature its market insights and consumer data during the webinars and virtual conferences throughout 2021. 

For more information, visit www.connectionssummit.com. To speak with an analyst or to request research, contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.




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Tuesday, January 5, 2021

Nearly one-third of seniors are considering purchasing an independent living system for themselves

Nearly one-third of seniors are considering purchasing an independent living system for themselves | #TpromoCom #Elderly #LifeStyle #Seniors #Report | New research highlights impact of COVID-19 on seniors, caregivers, and demand for independent living solutions http://bit.ly/35cz0G9

New research from Parks Associates’ COVID-19: Impact on Seniors, Caregivers, and Independent Living Solutions finds nearly 33% of US seniors (ages 65 and older) are considering purchasing an independent living system. This interest follows a trend of increasing technology adoption among the 65+ US population—34% have a smart speaker or smart display and 76% personally use a smartphone.

Parks Associates is tracking short- and long-term impacts of the pandemic on consumer behaviors, attitudes, and intentions in the connected health and independent living markets. COVID-19: Impact on Seniors, Caregivers, and Independent Living Solutions quantifies the impact of the COVID-19 crisis on seniors and family caregivers, assessing concerns, pain points, and demand for technology products and services.  

“High levels of interest in particular features, including safety and security functions, indicate demand for a solution designed specifically for senior comfort and control,” said Kristen Hanich, Senior Analyst, Parks Associates. “These seniors show a strong preference for companies specializing in independent living systems when seeking out a purchase channel, so they are looking for companies that are well versed and very familiar with the unique challenges that come with aging independently, especially as they bring new technologies into the home.”  

The research notes COVID-19 introduced new challenges to seniors and caregivers both. Senior telehealth usage nearly quadrupled year-over-year, with 29% of seniors reporting use of telehealth usage in May, up from 6% in 2019. The most popular service types used were phone calls and video chats, while 11% report using self-diagnosis apps. Increase in telehealth service usage was driven by changes in Medicare reimbursement and the rollout of remote visit functionality among seniors’ existing physicians. Health insurers and telehealth services also quickly moved to support this cohort, communicating with their members that these visits were covered.  

“Telehealth specialist companies rapidly moved to support Medicare Part B, with Doctor On Demand very quickly rolling out a solution soon after the Centers for Medicare and Medicaid expanded Medicare telehealth reimbursement,” Hanich said. “We are seeing a greater willingness on the part of seniors to try and adopt new technology.”  

For more information on COVID-19: Impact on Seniors, Caregivers, and Independent Living Solutions, contact sales@parksassociates.com.  

To schedule an interview with an analyst or to request specific research data, please contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.


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Wednesday, December 2, 2020

49% of US broadband households own a smart speaker or smart display


Webinar, sponsored by ULE Alliance, examines growing use of
voice control for home security and automation

Parks Associates research finds 49% of US broadband households own a smart speaker or smart display, driving voice to the forefront of the connected home consumer experience. Parks Associates is hosting the complimentary webinar “Voice Controls and Smart Home: Optimizing Product Design,” sponsored by ULE Alliance, on December 3 at 11 am CT (9 am PT), to evaluate methods for product manufacturers and service providers to evaluate voice control technologies and integrate solutions into their offerings that will deliver high-quality design while ensuring quality of service (QoS).

“Voice control quickly captured consumer interest, driving smart speaker adoption with early use cases focused on quick information requests and music streaming,” said Jennifer Kent, Senior Director, Parks Associates. “However, the user experience across smart speakers varies greatly, so as voice control moves into more critical use cases, such as emergency detection and response, companies will need to ensure QoS with a well-designed solution to maintain consumer confidence.”

In this webinar, speakers will share leading approaches to integrating voice and data communication into smart products and services and the tradeoffs that product manufacturers and service providers make when deciding among these approaches.  The webinar features the following speakers:

  • Avi Barel, Director, Business Development, ULE Alliance
  • Doug Bellenger, Head of Product, DIY, ADT
  • Jean Claude Bennoun, Business Development Manager, Crow Electronic Engineering Ltd
  • Jennifer Kent, Senior Director, Parks Associates
  • Bill Scheffler, VP Business Development, DSP Group


Webinar Topics:

  • Consumer data on smart speaker/display adoption
  • Adoption and usage of multiple speakers per household
  • Voice as an interface for security systems and products
  • Benefits of combining voice and data for product design
  • Key metrics as OEMs and service providers evaluate standards for voice integration
  • Use cases that need reliable QoS
  • Two-way voice use cases


Parks Associates Consumer Data:

  • 74% of smart home device owners also own a smart speaker.
  • 18% of US broadband households report that COVID-19 has increased their interest in products and services that enable “touchless” control of smart home devices using voice control.


To request data or an interview, please contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.

About Parks Associates: Parks Associates, a woman-founded and certified business, 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 the Internet of Things (IoT), 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 webinars, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, Connected Health Summit: Engaging Consumers, and Future of Video: OTT, Pay TV, and Digital Media.

http://www.parksassociates.com