IP connected home management services are going mainstream. Manufacturers are developing connected home strategies to extend the functionality of their products and provide additional capabilities beyond remote monitoring and control. Broadband and security service providers are adding home controls, energy management, security, and health services to their offerings.
Traditional security monitoring services have been on the market for decades, yet the adoption rate is limited to 15-20% of households. The addition of home automation features and self-monitoring solutions is expected to grow the market by 50% over the next decade, according to Parks Associates research. In addition, 30% of monitored broadband households (or 5-6% of all broadband households) report having any enhanced security or home automation features.
Parks Associates is highlighting this research at the upcoming CONNECTIONS Summit at CES on January 8 at the Las Vegas Convention Center from 1:00 – 2:15 PM. Director of Home Controls & Energy Research, Tom Kerber will lead a panel discussion, “Connected Home Partnerships: OEMs and Telecom, Security, and Home Control Service Providers” with EcoFactor, Hitachi, IBM, Lowe’s, Qualcomm, and Verizon. For more information regarding this executive conference, visit www.connectionssummit.com .
