At the same time, smart home solutions have invigorated a traditionally stagnant security market — security providers have been successful at converting legacy customers to interactive services, and 75% of home security installations in 2017 included smart control features. Parks Associates estimates annual revenue for professionally monitored security will exceed $15 billion by 2022.
Networked cameras also give DIY options to households that have eschewed professional security options to avoid installation or monthly fees. Parks Associates surveys indicate that households both with and without security systems could consider the remote monitoring and notification services provided by smart products as a sufficient substitute for professional monitoring.
From the article "Smart Home Products: Impact on the Home Security Industry" by Patrice Samuels.
Parks Associates revealed that 27% of U.S. car owners would connected cars to communicate with the Internet-connected devices in their home, such as smart garage door openers and door sensors. Park...
New research by streaming tracker Parks Associates predicts the amount of revenue lost to piracy and password sharing will increase 38% to $12.5 billion over the next five years. While it is seldom...
What does all of this mean for your business, customer support agents, and your clients? The innovation that is happening with visual and augmented support is still just beginning, but when you look a...
“We need to look at problems in the home from a holistic perspective and realize it is the value of all these devices working together that will drive adoption of the smart home,” EVRYTHNG senior vice...
