DALLAS, Nov. 28, 2023 ~ A new research from market research and consulting leader Parks Associates has revealed that 37% of US internet households currently shopping for smart home products consider Matter certification to be important or even critical in their purchase decision. This indicates that consumers are prioritizing the ability to control all their devices through a single interface, and are looking for comprehensive offerings that go beyond hardware.

Elizabeth Parks, President and CMO of Parks Associates, said, "Subscription-based services such as cloud storage, remote monitoring, and enhanced features are now critical differentiators. Companies are capitalizing on service revenue as a significant and stable income stream while solidifying customer loyalty."

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The Smart Home and Security Tracker from Parks Associates is an ongoing service which provides analysis on the latest trends, research, and forecasts in smart home and security. It also reveals a heightened focus on service integration as consumers place added value on any smart home device that can enhance their security and privacy.

Partnerships between companies have created opportunities for unique offerings and diversification of revenue opportunities. For example, the partnership between Samsung Electronics and Warner Bros. Pictures showcased the BARBIE SmartThings DreamHouse in coordination with the release of the Barbie movie.

Parks Associates will present its latest smart home and security research at the 18th annual CONNECTIONS™ Summit at CES in Las Vegas on January 9th 2024. The summit will be moderated by analysts from Parks Associates with executives from Google, ADT, Nice, AIG among others in attendance.

For more information contact 972-490-1113.

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