IoT Strategy

Tuesday, January 15, 2019

Enhance Traditional Security Systems In Your Smart Home

Market dynamics are changing the U.S. residential security market, creating new business models that better appeal to the approximately 70% of households without a security system. Smart home adjacencies have helped revitalize the traditional security industry, and alternative approaches to systems and monitoring for the security industry are emerging, including a new batch of DIY systems.

Growth in the residential security market and its position as the channel for smart home solutions ...read more

Wednesday, November 14, 2018

Impact of Smart Home Products on the Home Security Industry

As the smart home industry moves from early adopters to the early majority, brands in the space fervently seek to understand the value propositions that drive product adoption and how to improve perceived product value among consumers.

How people shop for and buy smart home devices is also changing — the home security industry has been the primary channel to spread the smart home value proposition among first adopters, but as the number and breadth of DIY products expand in retail, the ...read more

Wednesday, August 29, 2018

Market Strategies for Residential Security

Over the last five years, the needle for home security system ownership, monitored or not, has stayed within 25% – 27%. Value propositions remain the same and expected growth will be driven by a combination of DIY solutions, expanding distribution channels, innovative financing and continued expansion of the value proposition through interactive services, home controls and AI integration.

Key topics and points of discussion at ESX highlighted the growing interest in DIY solutions, ...read more

Wednesday, July 11, 2018

Amazon’s Answer to Home Security: Installations and No Monthly Fees

The competitive landscape of residential security is rapidly changing. The entrance of tech giants into the security fold not only threatens traditional security providers, but also helps to raise overall awareness of security offerings. However, traditional security providers do not have the technical infrastructure and quick-to-innovate agility of Google, Apple and Amazon.
 
This impending threat has weighed heavy on the traditional security industry, and as a result, new ...read more

Monday, April 02, 2018

Security Dealers Should Leverage Innovation of DIY Products

A number of market developments and trends are impacting the residential security industry and many new solutions were debuted at CES. Traditional security providers are facing increased competition from point solutions such as the all-in-one camera.

While the emergence of smart home products extends the value of a security system, it also increases competition, as smart devices are often sold independently of a traditional security system. Many of these solutions are self-installable, ...read more

Tuesday, February 20, 2018

Addressing Smart Home Device Vulnerabilities

Key value propositions for consumers around the smart home are noted as more security, more safety, and easy management of home solutions for communication and controls in the home. Really, the promise of the connected home hinges on the security, safety, and simplicity of protecting this advanced technology from being exploited to harm households.

In 2017, the connected home market has experienced an expansion of the kinds of attacks that have been increasing in recent ...read more

Monday, January 15, 2018

Consumer Attitudes on Smart Home Products and Insurance Use Cases

Consumer attitudes toward adoption of smart home devices provide critical guidance for insurers and their ecosystem partners in crafting their IoT strategies. Both consumers and insurers show growing recognition that smart home technology can help protect the home and reduce loss and associated costs. With smart home purchase intentions increasing, insurers have a significant opportunity to acquire and retain customers by offering new and innovative ways to mitigate risk and protect their ...read more

Monday, August 28, 2017

Technological advancements in IoT transforming the way consumers interact with their products

Dina Abdelrazik, Research Analyst at Parks Associates, recently sat down with Research and Markets to discuss technological advancements in IoT and how they're transforming the way consumers interact with their products.

THE CONNECTED LIFESTYLE

How have technological advancements affected the adoption, usage and retention of the smart home?

Technological advancements in IoT continue to improve the connected lifestyle. As a result, adoption of smart home products and services ...read more

Tuesday, July 11, 2017

Continued Innovation Crucial to Smart Home Device Adoption

Continued innovation and messaging are crucial for smart safety and security device manufacturers that want to capitalize on new opportunities in the emerging Internet of Things.

Early adopters of smart devices are often drawn to the innovative design and technological gadgetry. However, mass market adoption depends on clear and compelling value propositions that appeal to the masses when they seek a solution for a personal use case.

Connecting Outlier and Everyday Use ...read more

Wednesday, April 26, 2017

Advancements in smart security creating a safer smart home for consumers

Recent advances in smart security and safety devices offer consumers new and expanded solutions to help them trade in worry for peace of mind. Companies invested in IoT technologies are leading that effort by producing smart, connected products and services that promise to make the smart home safer than ever.

Home security is the most influential market driver for purchase of these devices to date. Parks Associates research shows more than one-fourth of U.S. broadband households ...read more

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