Tuesday, September 06, 2016

Parks Associates releases new industry report on security and smart home in Europe

U.S. has more than twice as many home security systems as Western Europe

Parks Associates today announced the release of a new industry report that addresses the state of home security and smart home offerings in Europe. State of Residential Security and Smart Home in Europe analyzes the many issues that challenge companies seeking a piece of the European marketplace for security systems and adjacent smart home products and services. The research report also profiles the European householders who have already adopted security systems at home.

“A growing amount of hype surrounds the smart home concept in Europe, but consumer awareness in Western European countries still needs to grow,” said Stuart Sikes, President, Parks Associates. “Several innovative smart home products are gaining traction and helping to increase awareness and adoption of both smart home products and interactive security systems.”

Parks Associates notes that smart home and interactive features are transforming the professional home security market in both the U.S. and Europe. However, adoption of professional home security is close to 20% in the U.S., which is nearly double the adoption rate in Western Europe.

In addition to providing an overview of the residential security market in Europe, State of Residential Security and Smart Home in Europe addresses the following:

  • The overall market penetration for professional residential security services
  • The most common business models in Europe, in comparison to the U.S. market
  • Profiles of the key players in the market and initiatives that the core players are executing to strengthen and expand the marketplace
  • The extent to which residential security companies have adopted smart home and interactive technologies
  • Roles of non-security service providers (e.g., utilities and broadband providers) and insurance companies in providing security and peace-of-mind solutions
  • Key challenges that the industry as a whole must address
  • New entrants
  • Initiatives currently in play to address challenges and maintain the vitality of the professional home security market

Sikes will participate at Smart Home Summit in London on 21-22 September 2016 as a moderator of the session "Smart Home Monetization" and chair for the session "Your Questions Answered by our Expert Smart Home Panel."

Parks Associates will also present and discuss the firm’s European and global IoT research at the 11th-annual CONNECTIONS™ Europe: Smart Home, IoT, and the Connected Consumer, 2-3 November 2016 at the NH Grand Hotel Krasnapolsky in Amsterdam. For more information, visit http://www.connectionseurope.com or contact sales@parksassociates.com, 972-490-1113.

For more information about Parks Associates’ research, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific energy management data, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.

About Parks Associates: Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

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

Next: Parks Associates to present home systems and audio research at CEDIA, September 14-15
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