"home automation" articles

2021 and 2022 have been healthy years for the home security industry, and new competition is changing the landscape. Self-installed systems now represent about half of all security systems owned or 16% of all US broadband households. Taken together, these metrics underline the growth of the self-install, professionally monitored market for major players. Understanding the complexity of the market is important as the lines continue to blur with offerings from traditional players...
 
by Elizabeth Parks | Sep. 18, 2022
Tags: broadband, home automation, security
The cost of living has increased in 2022 as inflation recently broke a 40-year high. There are few indications that consumers can expect a significant decrease in the cost of goods and services in near future. Security companies must find ways to increase revenue to compensate for the higher prices in materials, overhead and wage inflation of their employees. A good portion of the security industry is raising professional monitoring fees or including new services for consumers to...
 
As the technology used in smart homes and security systems grows in complexity, consumers opting for professionally installed and monitored systems rely on their providers' expertise for configuration and support. This requirement is a growing concern for smaller integrators who fear that support costs will increase dramatically by including home controls with their installations. But while dealers report smart home devices have a high impact on support costs, the interactive services of...
 
While traditional appliances are self-contained with all the components and the user controls in one cabinet, home systems are not. Components are located where optimal and interconnected electronically via a home network. Home systems have been designed with customer features tailored to a range of use cases, including lighting, energy management, environmental comfort, entertainment, healthcare, and safety. Each application is organized around a controller that manages connected...
 
State Farm’s $1.2 billion investment in ADT for 15% stake in the company signals a turning point in the slow and somewhat tepid attention insurers have paid to the smart security space. Smart security products and systems stand to save insurers billions of dollars through proactive monitoring, detection, and deterrence for burglary, home, and fire damage. Parks Associates’ July 2022 research finds: 23% of US internet households have experienced water damage...
Connected devices are forming deep integrations in consumers’ lifestyles, with convenience, comfort, and peace of mind as the leading drivers of adoption. As their familiarity with smart home products increases, consumers will seek products that target their specific needs, which can range from lawn maintenance and irrigation to independent living and health monitoring. Co-marketing partnerships with brands in other industries such as energy providers, builders, and insurance companies...
 
Security system use is particularly common in multi-dwelling properties. Parks Associates research shows that 41% of multi-dwelling unit (MDU) property managers have a security/access system for common property areas and parking garages.  From the article, "The Smart Money: Demand for Security at an All-Time High . " 
 
Parks Associates research finds that more than a third of US internet households are likely to purchase a vehicle in the next year. While EVs are a growing market, the EV ecosystem is still immature and requires substantial investments to scale and meet future demands. Consumers have many concerns around the reliability and security of the vehicle, the charging infrastructure being in place to alleviate charging concerns, and the operational aspects that come with it, including the use...

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