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Over 1.8 Million Households Headed by Consumers 25-34 Own at Least One Smart Energy Product

Parks Associates Research Finds More U.S. Households Adopting Smart Thermostats, Smart Lighting, Smart Outlets/Plugs and Power Strips, and Smart Kitchen Appliances

DALLAS, TX -- (Marketwired) -- 07/16/14 -- New Internet of Things (IoT) research from Parks Associates shows young consumers, those with children, and those in a home for 3-4 years are leading the adoption of Internet-connected energy devices. The firm's Home Energy Management Adopters reveals more than 10% of U.S. broadband households headed by a consumer aged 25-34 own at least one smart home energy management device, compared to 7% of all U.S. broadband households. Further, 9% of households with children and over 10% of households who have been in their home 3-4 years own a smart energy management device.

"Younger consumers also own multiple devices at higher rates -- 4% own five or more smart energy management devices, and they are the majority of those most willing to purchase a smart home system," said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates. "The market segment of consumers 25-34 years old is a key target for new smart home solutions that consolidate control of multiple devices through a smartphone or tablet."

The entry of major service providers such as ADT, AT&T, and Comcast is helping to increase consumer awareness and adoption of smart home solutions. Product lines from major retailers such as Staples, which recently announced its new Staples Connect™ solution, and Lowe's, with its Iris brand of products, will increase competition in this space as they introduce home energy products to their large base of consumers.

Smart energy management products provide remote alerts and status updates to consumers, who can then access and control the device from a smartphone or other mobile device. Smart programmable thermostats, smart lighting, smart outlets/plugs and power strips, and smart kitchen appliances are all entering the market in growing numbers.

"Seven percent of U.S. broadband households plan to purchase a smart thermostat over the next 12 months, but our findings show consumers clearly prefer smart home systems with extended capabilities that integrate multiple devices," Kerber said. "Stand-alone products are getting the early attention in this emerging market, but the successful solutions long-term will be able to work together as part of a smart home system."

Parks Associates will present new Internet of Things and smart energy research at Smart Energy Summit: Engaging the Consumer, February 16-18, 2015. Visit www.smartenergysummit2015.com for event updates.

For more information, visit www.parksassociates.com or contact [email protected], 972-490-1113. Media interviews with Tom Kerber are available. To request a meeting or specific research data, contact Holly Sprague at [email protected] or 720-987-6614.

About Parks Associates
Parks Associates 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 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 webcasts, the CONNECTIONS™ Conference Series, and Smart Energy Summit: Engaging the Consumer. http://www.parksassociates.com

Parks Associates will discuss the connected health market at Connected Health Summit: Engaging Consumers, September 4-5, in San Diego, which features keynotes from Qualcomm Life, Walgreens, Kaiser, Humana Wellness, and Ascension Health.

Parks Associates will discuss tech support, the Internet of Things, and the connected home at the upcoming CONNECTIONS™ Europe: Monetizing Strategies for the Connected Home, 18-19 November 2014, Amsterdam.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2639884

Holly Sprague
Parks Associates
720.987.6614
[email protected]

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