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Smart Home

U.S. IP-based Home Monitoring Services market will reach $4.4 billion by 2016

Parks Associates projects the percentage of U.S. households with professionally monitored services will expand to 30% by 2020, with consumer demand for remote monitoring, coupled with the expanding presence of broadband service providers, driving growth in the security market. In its new report IP-based Home Monitoring: Security, which analyzes trends driving the market in 2011 and beyond, the international research firm estimates U.S. security monitoring, representing 18% of U.S. households in 2010, generates up to $10 billion annually from service fees, and consumer demand will drive further market expansion. One-third of U.S. consumers in broadband households find remote control of lights, appliances and thermostats via Web-enabled devices very appealing. Nearly 50% find email/text notification of smoke, fire, water, or gas leaks very appealing.

With the popularity of smartphones, tablets, and other Web-enabled devices, consumers are carrying a link to their home systems. Widespread availability of broadband is also disrupting the traditional business model of security companies and introducing new competition from service providers, who are leveraging their networks to create new services and expand ARPU. These Internet-connected security systems are bringing new customers into what was a relatively stagnant consumer base.

Parks Associates will discuss new trends and consumer data for the residential monitoring industries at Smart Energy Summit: Engaging the Consumer, in Austin, Texas, February 28-March 1, 2012.
 

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