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Reader Forum: The smart home promise vs. reality

March 15, 2015

By and large, these devices are smart (some are self-learning), user-friendly and allow automation and control that we could only have dreamed about 10 years ago.

If the basic requirements are in place, why are we still in this situation? In the long-term, as many industry analysts – Parks, Berg – predict, mass adoption is going to be driven by service providers and not by the technology vendors’ direct-to-consumer business models.

Almost any study that evaluates consumers’ willingness to pay for a smart home solution puts the value of security and safety above all others. According to Parks Associates, the six smart home features most valuable to consumers are related to security and safety functions, while Strategy Analytics said 55% of Americans are willing to pay for self-monitored security. For this reason, it follows that a solid security module at the base of a smart home offering is imperative. Whether the system offers self-monitored security or is combined with professional monitoring, this value will create revenue.

From the article "Reader Forum: The smart home promise vs. reality" by Daniela Perlmutter.

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