Parks Estimates 2.5 Million Homes in Western Europe Will Have Smart Home Controller by 2019

Parks Associates estimates 2.5 million homes in Western Europe will have a smart home controller by 2019, it said in a Monday announcement trumpeting the appearance of its president, Stuart Sikes, at the Smart Home Summit, which opens Tuesday in London for two days. "Smart home systems will need the flexibility to deliver multiple value propositions within the household," Sikes said in a statement. "Interoperability is necessary to achieve recurring revenue models as it enables devices to deliver a broad array of value-added services and features." Low consumer awareness and “lack of a concise value proposition” are two of the “key challenges” impeding the progress of the smart home, Sikes said: “The industry will overcome low awareness over time, thanks to the entry of high-profile players in the consumer IoT ecosystem, but to create value on a mass-market scale, smart home solutions must be able to integrate multiple features."