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New service models emerge for smart home eco-systems

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 monitoring, leak detection, and home technology support.

Parks Associates recently shared details on this topic at the 29th annual Connections in Plano, Texas.  Sessions explored how smart home services are evolving to deliver greater value, convenience, and security for connected households.

Parks Associates research, featured at Connections, identifies strong willingness to pay among consumers, with the majority of interested households willing to invest $10 to $30 per month for convenient, proactive services. Notably, HVAC and fire safety monitoring services represent the largest market opportunities, combining broad appeal with high revenue potential. The Connections conference also featured a variety of expert speakers who discussed the future of home services.

"As homes become more connected, consumers expect technology to deliver peace of mind, efficiency, and expert support," said Jennifer Kent, VP, Research, Parks Associates. "Smart home industry players must broaden their view of the market in which they participate. There are untapped opportunities to leverage the growing base of smart home technologies to generate service revenue, whether directly to the consumer or through a B2B arrangement."

From the SecurityWorldMarket.com article, "New service models emerge for smart home eco-systems" 

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