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.
Currently, 51 percent of U.S. households have at least one connected health device, according to Parks Associates. Consumer awareness about the shift towards care in the home is growing and a new buzz...
Smart home devices are very popular and can contribute mightily to satisfaction with multi dwelling unit living, according to a white paper from Parks Associates and Cox Communities. In July, 2021,...
Research by Parks Associates, a market research and consulting company, showed that "annual sports OTT subscription revenue in the United States was $13.1 billion in 2022 and will almost double to app...
A research report from our friends at Parks Associates, Smart Lighting Assessment, examines the changing directions in lighting, including in security perimeters, new form factors, and a universal “pl...
