US Households Want No-Contract Home Security With Smartphone Control, Says Parks
Among the 73 percent of U.S. broadband households without a home security system, 19 percent are “very likely” to buy one if it can be monitored and controlled via a smartphone, said a Tuesday Parks Associates report. The same percentage…
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said they would be likely to buy a home security system if it doesn’t require a long-term contract, Parks said. New market entrants like Nest, technology enhancements like voice control, and creative business models are contributing to shifting consumer expectations and pressuring the traditional security industry to innovate in both technology and business strategies, Parks said. "Smart home adjacencies have helped revitalize the traditional security industry but also create new competition," said analyst Dina Abdelrazik. She referenced Vivint’s Streety app (see 1801180050) that allows neighbors to share video clips and live feeds from their home security cameras. Traditional security companies account for the majority (72 percent) of all professionally monitored subscribers, but that share is declining, said the analyst. Some 16 percent of U.S. broadband households are highly likely to acquire a security system within one year of the survey, and half plan to buy a system that they can install themselves, Parks said.