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In The News

Smart Home Products: Impact on the Home Security Industry

October 31, 2018

Security Sales & Integration

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.

Previously In The News

Smarter Energy at Home: How Consumers Are Taking Control with Smart Home Tech

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Parks Associates’ study Smart Home Services: Safety, Prevention, Comfort reveals that 66% of US single-family homeowners are likely to adopt technology-enabled home services, such as smart HVAC mo...

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