Parks Associates Research Highlights: Laptops, Wearables, and Gen AI
Elizabeth Parks
39 year old family business ? Smart Home ? Energy ? Streaming ? CTV ? Broadband ? Connected Health ? SMB ? Multifamily ? Market Research ?Consulting ? Marketing Services ? Thought Leadership
Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.
Parks Associates expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.
Check out some highlights of our latest research -
HP overtakes Apple in Q1 2024 laptop sales
Parks Associates newest Consumer Insights Dashboard, Tech Ecosystem Dashboard, reveals that in Q1 of this year, HP took the sales lead in the laptop category, rising to 25% of all consumer-reported purchases and overtaking Apple for the first time since 2020. Apple dropped to 22% in Q1 2024 from 29% in Q3 2023. Sales for Dell increased modestly to 17% but in general are consistent relative to previous years.
The consumer study of 8,000 US internet households focuses on four main brand ecosystems — Apple, Amazon, Samsung, and Google — tracking movement of foundational market metrics, such as product or service adoption, household spending intentions, and churn.?
Nearly 50% of US internet households own and use a wearable
Parks Associates’ latest consumer study, Wearables: Advances in Health and Safety, finds consumer demand for health-related features on wearable devices continues to increase. Nearly 50% of US internet households own and use a wearable, with recent growth driven by smart watches and new form factors, including smart rings.
Smart watch adoption is setting the stage for further growth of attached services, ranging from cellular connectivity to user safety monitoring to advanced health coaching. The firm’s latest study of 8,000 US internet households reveals that 32% of wearable owners have an attached subscription and 92% of purchase intenders are willing to pay extra for a device with at least one health-related feature tested in the survey. Consumer interest is highest in blood pressure monitoring, which is a metric of interest to many consumers given the prevalence of hypertension and other blood-pressure related conditions.
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Nearly 40% of households who do not use generative AI tools do not see the value in them
Parks Associates’ new research study Consumer Perception and Use of Generative AI, a survey of 8,000 US internet households, reveals nearly 40% of households who do not use generative AI tools, including ChatGPT, chatbots, and image generators, do not see the value in them. One-third also have privacy concerns.
The research finds 36% of US internet households are familiar with conversational AI tools like ChatGPT, including just 20% who are very familiar with it. Younger respondents are far more likely to use these tools—more than 70% of respondents 18-24 years old have used a generative AI tool compared to less than 15% of those 65 and older.
Twelve percent (12%) of internet households plan to buy a smart ring, the newest type of wearables for digital health
Parks Associates’ research finds 12% of US internet households say they are likely to purchase a smart ring in the next six months. Smart rings are a new wearable form factor that offers traditional tracking capabilities without the screen, allowing for a more unobtrusive experience. These new devices, along with hybrid watches, are helping drive new growth in the wearables market, which has reached nearly 50% adoption among US internet households. Smart rings are poised for strong future growth, especially during the upcoming holiday season.
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lots of great research!
There is typical great Parks Associates value here from top to bottom and the last line is a most valuable reminder for people who are already thinking about holiday shopping. Give the gift of situational awareness this year.