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.
Elizabeth Parks, president of Parks Associates was quoted in USA Today this week as saying: “It’s a challenging time for service providers to make the money work. It makes sense that there will be a l...
Parks Associates has reported that smartwatch adoption has jumped by 35 percent in 2023. While smart technology combines aesthetics and function, there have been some new developments in the medical f...
According to a fresh report from Parks Associates, one in five U.S. households with internet access in the home possess a television antenna. At the same time, 12% of these households do not have a TV...
“It’s a challenging time for service providers to make the money work,” said Elizabeth Parks, president of Parks Associates. “It makes sense that there will be a lot of consolidation in the market. We...
