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Market Research Report

Evaluating Service Opportunities in the Smart Home

Published by Parks Associates Product code 913325
Published Content info 58 Slides
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Evaluating Service Opportunities in the Smart Home
Published: November 12, 2019 Content info: 58 Slides


Smart home products create additional service opportunities for device manufacturers to fulfill. This research examines which services create the most value for consumers and the winning business models for these services. It highlights consumer preferences for monitoring services, diagnostic services, digital storage, installation, home delivery, and consumables re-ordering, along with the most attractive business models for service delivery.


“In this expanded ecosystem, IoT manufacturers are challenged to become service providers as they create new business models that can provide sustainable revenue throughout the lifecycle of connected products.” - Lindsay Gafford, Research Analyst, Parks Associates.

Table of Contents

Table of Contents

Consumer Analytics: Smart Home Devices and Services Track

  • Key Questions Answered
  • Survey Methodology
  • Defining Heads of Broadband Households
  • Definitions and Abbreviations
  • Reading Parks Associates Charts

Executive Summary

  • Industry Insight
  • Key Findings and Market Impact

Smart Home Device Adoption and Trends

  • Overall Smart Home Device Ownership (2014 - 2019)
  • Smart Home Device Adoption - Top 10 (Q2/19)
  • Smart Home Device Adoption, Cont'd (Q2/19)
  • Smart Appliance Adoption (Q2/19)
  • Demographic Breakdown of Smart Home Device Ownership Segments (Q2/19)

Common Household Services

  • Use of Professional Home Services (Q2/19)
  • Payment for Professional Home Services (Q2/19)
  • Methods of Finding Home Service Provider (Q2/19)
  • Important Factors When Choosing a Home Service Provider (Q2/19)

Services for Smart Security Devices: Networked Cameras & Access Control

  • Importance of Product Capabilities in Networked Cameras (Q4/18)
  • Networked Camera: Capability Of Live Streaming on Smartphone (Q4/18)
  • Networked Camera: Reliability of Live Streaming on Smartphone (Q4/18)
  • Networked Camera: Length of Time Recorded Video is Stored (Q4/18)
  • Networked Camera: Source of Video Storage (Q4/18)
  • Networked Camera: Cost of Video Storage (Q4/18)
  • Value of Expanded Features in Access Control Devices (Q4/18)
  • Willingness to Pay for In-Home Delivery Services at Various Price Points (Q4/18)

Services for Smart Loss Detection & Prevention Devices: Smart Smoke/CO Detectors and Smart Water Leak Detectors & Shut-Off Valves

  • Smart Smoke & Fire Prevention Device Ownership (Q2/19)
  • Importance of Ordering Replacement Batteries Automatically for Smart Smoke/CO Detectors (Q4/18)
  • Appeal of Additional Services for Smart Smoke/CO Detectors (Q4/18)
  • Willingness to Pay for Smoke Detector Monitoring Service at Various Price Points (Q4/18)
  • Overall Home Damage Experiences (Q2/19)
  • Appeal of Services for Smart Water Leak Detector or Water Shut-Off Valve (Q4/18)
  • Willingness to Pay for Water Leak Detection at Various Price Points (Q4/18)

Services for Smart Energy Devices: Smart Thermostats & Smart Lighting

  • Smart Thermostat: Appeal of Dealer Services (Q4/18)
  • Appeal of Additional Services for Smart Thermostats (Q4/18)
  • Smart Thermostat: Willingness to Pay for Dealer Services (Q4/18)
  • Appeal of Additional Services for Smart Lighting (Q4/18)
  • Willingness to Pay for Lighting-Based Security Service (Q4/18)

Services for Smart Appliances and Other Smart Products

  • Appeal of Automated Smart Home Product Scenarios (Q2/19)
  • Preferred Business Model for Automated Smart Home Product Services (Q2/19)

Non-Smart Home Services

  • Appeal of Services Not Associated with a Smart Home Device (Q2/19)
  • Appeal of Non-Smart Home Device Services by Smart Home Device Ownership (Q2/19)
  • Preferred Channel for Non-Smart Home Services (Q2/19)


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