Smart Home Market Still Plagued by Low Consumer Awareness, Says Parks

Lacking consumer awareness and “low perceived product value remain significant problems for the smart home industry,” blogged Parks Associates analyst Patrice Samuels Tuesday. Limited information about smart home products led to “purchase avoidance,” Samuels said, saying builder and multi-dwelling unit channels could expose benefits of the technologies to consumers through installations in model homes and apartments. A fourth of U.S. broadband households believe a “move-in-ready house” would include smart home devices, said Parks, and among MDU residents, 19 percent see them as an “important consideration.” Among consumers who don't own or intend to buy smart home devices, 54 percent don’t perceive that the devices will benefit their lives, Parks said. Nearly a quarter of broadband homes own at least one smart home device.