Market Research Firm Announces New Report at Smart Energy Summit: Engaging the Consumer
February 18, 2015, Dallas, Texas-According to a new report from Parks Associates, 43% of U.S. broadband households are willing to subscribe to a bundle of energy services for $9.99 per month, while individual energy services appeal to just over one-third of households. The market research firm announced the report Monetizing Connected Products and Systems at Smart Energy Summit: Engaging the Consumer this week in Austin, Texas.
"Connectivity opens up many new service opportunities for smart product and service providers," said Tom Kerber, Director, Home Controls and Energy, Parks Associates. "Parks Associates research has evaluated new services to determine what grouping drives value for the consumer. Bundling together a group of services can expand product pricing and drive recurring revenue. In addition, consumers are receptive to new business models such as demand response programs that offer manufacturers an ongoing revenue source that is not directly funded by the consumer."
Monetizing Connected Products and Systems outlines consumer and industry research on alternative business models that are a source of competitive advantage in the smart home market. Analysts highlight the importance of both traditional partnerships and more loosely coupled agreements that will have a transformative impact on the market.
"Partnerships are an essential element of new monetization approaches because the smart home is removing barriers between traditionally separate vertical markets," Kerber said. "Partnerships require each player in the smart home to understand the business model and value chain of potential partners and develop solutions that drive efficiencies and unlock value for those partners."
Smart Energy Summit: Engaging the Consumer, February 16-18 in Austin, Texas, features keynotes from NRG Energy and SunPower Corp. and a special fireside chat with ecobee and SmartThings. Panel discussions examine the expanding market for the smart home and the Internet of Things with high-level speakers from Lowe's, Reliant, Time Warner, Nest, Honeywell, and more.
Subscribe to Parks Associates' Smart Energy Insights Blog to keep up-to-date on energy research. A complimentary whitepaper, The Connected Consumer: Top Trends in IoT, is also available and provides expert insight into global trends for 2015 in smart home technologies.
For more information, visit www.parksassociates.com and follow the research firm on Twitter at @ParksAssociates. To speak with an analyst, please contact Holly Sprague at firstname.lastname@example.org.
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, Connected Health Summit: Engaging Consumers, and Smart Energy Summit: Engaging the Consumer.