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The Smart Money: How Smart Homes Are Reshaping the Insurance Industry

January 22, 2024

home automation

SecurityInfoWatch.com

smart energy devices

According to Parks Associates research, 42% of U.S. households have at least one smart home device, and the highest adopted device is the video doorbell – now in 20% of U.S. internet households.

Currently, only 10% of households own a smart smoke/CO detector, and only 3% own a smart water leak detector.

parks1

In Parks Associates’ Q2 2023 survey of 8,000 internet households, 64% were homeowners and 58% reported having a homeowner’s insurance policy. Overall, roughly 90 million U.S. internet households have a homeowners or renters insurance policy.

From the article, "The Smart Money: How Smart Homes Are Reshaping the Insurance Industry" by Elizabeth Parks

Previously In The News

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The report includes insights from DISH Network, SES/HD Plus, Sling TV, NOW TV (Sky), Ampere Analysis, Futuresource Consulting, Parks Associates, Strategy Analytics, IHS Markit, Pay-TV Innovation Forum...

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In the next decade, uptake and engagement is only expected to increase, with Parks Associates reporting that Smart TV adoption is set to increase by 31 percent each year. It seems the TV is very much...

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“Health and wellness applications and services will play a large role in the smart home in 2017, driving innovations in security, wearables, and interoperability,” Harry Wang, senior director of resea...

Z-Wave Alliance Announces Board Member and New Security Mandate

"Ownership of smart home devices continues to increase, with some products passing 10 percent penetration in broadband households," Stuart Sikes, president at the research firm Parks Associates, obser...

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