International IoT research firm releases new Canadian smart home and security research

International IoT research firm Parks Associates released new research today showing 12% of broadband households in Canada have a smart home device such as a smart thermostat, smart door look, or video doorbell, compared to 26% in the U.S. According to Smart Home and Security in Canada, the security market in Canada is starting to leverage these solutions to drive new growth in their market. In Canada, 25% of broadband households have an active home security system, 70% of which have professional monitoring, and 25% of professionally monitored households plan to switch providers over the next year.

“Canada’s security market is stable but with high attrition rates, which makes market expansion difficult, and the security providers, telcos, and cablecos don’t want to keep pushing their services to the top of the hill only to have subscribers switch or cancel just to save a few dollars,” said Brad Russell, Research Director, Connected Home, Parks Associates. “These companies are investing in smart home adjacencies that add value to traditional security offerings and help with subscriber retention. Innovative services in health and PERS will help secure customers.”

Parks Associates reveals that networked cameras, smart door locks, and products such as video doorbells are increasingly part of provider options in Canada. The provider goals include increasing retention and expanding the base of households seeking fee-based monitoring. Smart Home and Security in Canada indicates voice control options could also drive consumer interest in IoT innovations.

“Smart speakers with personal assistants could be valued enhancements,” Russell said. “Voice control is increasingly popular, and consumer awareness of these devices increased by 50% from 1Q 2017 to 1Q 2018. Currently 7% of Canadian broadband households have a smart speaker with personal assistant.”

Smart Home and Security in Canada examines the smart home and security landscapes among Canadian broadband households and identifies market factors driving adoption and usage of these products and services. Additional data from the research reveals:

• 11% of security system owners acquired their system within the past 12 months, a decline from 17% two years ago.
• 18% of all broadband households have at least basic interactivity with their security system.
   

More information is available at www.parksassociates.com.To schedule an interview or to request specific research data, please contact Julia Homier at julia.homier@parksassociates.com.

About Parks Associates

Parks Associates is a global research, consulting, and marketing firm with 40 years of experience delivering proprietary consumer data and industry insights for businesses. The firm produces market research reports, forecasts, surveys, and competitive business intelligence on connected consumer, small business, and commercial technologies and related business solutions. Parks Associates provides custom research, strategic consulting, and forward-looking analysis across connected home, small business, and commercial markets, including security, smart home, broadband, entertainment, energy, multifamily, smart buildings, connected health, and emerging AI-driven technologies.

Parks Associates supports industry growth through proprietary research, consulting, and executive networking and convenes thousands of leaders each year through its flagship conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.

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