U.S. home controls market to exceed $3 billion in 2007
January 4, 2007, Dallas, Tex. — The U.S. market for home controllers, while not reaching full mass-market deployment, will grow from $3 billion in 2005 to $3.5 billion in 2007, according to Parks Associates’ upcoming report Home Systems: Home Controls Update. This growth will come despite a difficult market for new homes and largely because of industry efforts such as Best Buy’s new ConnectedLife.Home package, which will raise awareness among consumers of the possibilities and affordability of intelligent home systems.
“Activities like the Best Buy announcement are setting the stage for broad-based adoption of connected home systems,” said Bill Ablondi, director of home systems research for Parks Associates. “The market for home controls lacks consumer awareness, not technical capability, and the entry of high-profile companies, together with the increasing adoption of broadband and connected-entertainment services, will help overcome this hurdle.”
Home Systems: Home Controls Update states that by 2010, more than 30 million U.S. households will have a network that bridges numerous products and extends the entertainment experience to multiple rooms in the home. Home controls will benefit greatly from this increasing connectivity, and the market will grow steadily over the next six years, exceeding $4 billion in 2010 and reaching $6 billion by 2012.
“Historically home control systems have been associated with the new-home market,” Ablondi said. “We will see this trend change dramatically over the next few years as powerline and wireless technologies will eliminate the need to re-wire existing homes in order to provide control and audio/video distribution capabilities. With the population of pre-existing homes open to home controls, this market will have immense potential.”
Home Systems: Home Controls Update provides in-depth analysis and a competitive assessment of the home controls market based on surveys and research of all principals in the home systems installation channel, including custom electronic systems designers/integrators, security systems integrators/installers, home builders, and consumers. The report also provides updated forecasts of unit sales and revenues for home controls, presented both in aggregate and in key segments including application, single-family vs. multifamily units, and new vs. existing homes.
For additional information on the Home Systems: Home Controls Update, visit http://www.parksassociates.com or contact 972-490-1113 or firstname.lastname@example.org. For more market research data, visit Parks Associates’ Fast Facts site http://www.parksassociates.com/fastfacts.
About Parks Associates: Parks Associates is a market research and consulting firm focused on all product and service segments that are “digital” or provide connectivity within the home. The company’s expertise includes home networks, digital entertainment, consumer electronics, broadband and Internet services, and home systems.
Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, multiclient studies, consumer research, workshops, executive conferences, and custom-tailored client solutions. Parks Associates is also a reliable resource for industry, local, national and international press, providing data, analysis, and insight on all aspects of the “digital living” markets.
Parks Associates hosts several fall events and co-hosts CONNECTIONS and CONNECTIONS Europe (in partnership with the Consumer Electronics Association) each year. In addition, Parks Associates produces the publication Industry Insights two times per year in conjunction with the CONNECTIONS Conference series.