Report: Consumers Willing to Spend $10 a Month on Smart Home Services

SAN DIEGO — Smart home cloud-based services revenues, which include home monitoring and energy services, will reach $5.8 billion worldwide by 2015, according to new research.

Titled “Smart Home Sensor Networks,” the report by technology research firm ON World Inc. states that 38 million households worldwide will have a smart home system by 2015.

“Demand for energy solutions has invigorated the smart home market,” ON World Research Director Mareca Hatler says. “It’s resulted in cloud-based innovations that make smart home services accessible for the average household.

Of the more than 500 consumers surveyed for the report, four in five respondents are “interested” or “very interested” in security, safety, lighting and energy management applications. Meanwhile, 29 percent said they are willing to spend $10 or more per month for a smart home cloud service.

The research is good news for companies, such as ADT, Comcast, Rogers Communications, Verizon and Vivint, which have started offering cloud-based services to customers. Offerings include solutions for advanced security, lighting controls, energy management and home automation.

“There are almost as many ways to deliver smart home services as there are smart home system variations,” Hatler says. “Broadband and security service providers are the first to offer mass market solutions, and we are seeing disruptive offerings in the cable TV, mobile and retail channels.”

Other report findings note that energy management equipment will increase by a 56-percent compound annual growth rate (CAGR) within the next five years. Additionally, ZigBee and Z-Wave will have more than half of the sensor network market in 2015. However, emerging technologies such as Wi-Fi and 6LoWPAN are projected to grow even faster.

For more information, click here.


Security Is Our Business, Too

For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.

A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!

Subscribe Today!

Get Our Newsletters