Tuesday, April 04, 2017

Market Snapshot: Disruptive Forces in the Home Security Market highlights trends in security industry ahead of ISC West

Tom Kerber, Director of IoT Strategy, to speak at ISC West, April 5 in Las Vegas

Security research from Parks Associates shows that adoption of interactive services among U.S. households with professional security monitoring has experienced a 50% CAGR from 2011 to 2016, reaching more than 8.3 million U.S. households. From 2016 to 2021, adoption of interactive security services, such as monitoring through an app and mobile control, will grow at an estimated 13% CAGR from 2016 to 2021, according to Parks Associates’ forecasts from Home Security NUMBERS™.

“Although consumers tend to over-report adoption of interactive services, this trend is clearly positive—today 38% of professionally monitored security subscribers have interactive services, and that number will grow to 60% by 2021,” said Tom Kerber, Director of IoT Strategy, Parks Associates. “Interactive services have fueled growth in the security industry over the past five years and will continue to do so over the next five years.”

Kerber will be speaking on the session “Leveraging Emerging Smart Home Technologies to Grow your Business” at 10 a.m., April 5, at ISC West in Las Vegas. Parks Associates is supporting ISC West, the largest event in the U.S. for the physical security industry. The event covers access control, alarms and monitoring, biometrics, IP security, video surveillance/CCTV, networked security products, and more.

The session will analyze how voice technology, gesture control, and entertainment/smart home hybrid systems are changing the smart home market. Speakers also focus on strategies that security dealers and manufacturers can leverage to expand their customer base. Joining Kerber on the panel are the following speakers:

  • Mitchell Klein, Executive Director, Z-Wave Alliance
  • Jeremy McLerran, Director of Marketing, Qolsys

“The security industry is the leading channel for smart home services, but competition from smart product vendors is heating up,” Kerber said. “As the smart home transitions beyond early adopters, a simple, seamless user experience is paramount. Voice and artificial intelligence are increasingly shaping advances in the user experience.”

Parks Associates’ NUMBERS™ provides forecasts, sales, and adoption for a variety of IoT product and service categories, including home security, smart thermostats, smart home controllers, IP cameras, and smart water devices.

360 View: Residential Security & Smart Home quantifies major trends in the market, including analysis of competition, self-installation, and adoption of interactive services and home controls. The research includes the following highlights:

  • Approximately one-third of security systems in the U.S. installed in the last year are self-installed.
  • Roughly 5% of U.S. broadband households own a home control system that is independent of a home security system.
  • 75%-85% of smart product owners rate voice control of smart lighting, smart thermostats, smart smoke detectors, and smart garage door openers as appealing.
  • 16% of U.S. broadband households acquiring a security system in the past year did so as a response to advertising.

The firm’s “Market Snapshot: Disruptive Forces in the Home Security Market” is available to download. To schedule an interview with Tom Kerber or to request specific research, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.

About Parks Associates: Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, Connected Health Summit: Engaging Consumers, and Future of Video: OTT, Pay TV, and Digital Media.


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