Parks Associates announced the release of a new industry report that addresses the state of home security and connected home offerings in Europe. State of Residential Security and Smart Home in Europe analyzes the many issues that challenge companies seeking a piece of the European marketplace for security systems and adjacent smart home products and services. The research report also profiles the European householders who have already adopted security systems at home.
“A growing amount of hype surrounds the smart home concept in Europe, but consumer awareness in Western European countries still needs to grow,” said Stuart Sikes, President, Parks Associates. “Several innovative smart home products are gaining traction and helping to increase awareness and adoption of both smart home products and interactive security systems.”
Parks Associates notes that connected homes and interactive features are transforming the professional home security market in both the U.S. and Europe. However, adoption of professional home security is close to 20% in the U.S., which is nearly double the adoption rate in Western Europe.
In addition to providing an overview of the residential security market in Europe, State of Residential Security and Smart Home in Europe addresses the following:
- The overall market penetration for professional residential security services
- The most common business models in Europe, in comparison to the U.S. market
- Profiles of the key players in the market and initiatives that the core players are executing to strengthen and expand the marketplace
- The extent to which residential security companies have adopted connected home and interactive technologies
- Roles of non-security service providers (e.g., utilities and broadband providers) and insurance companies in providing security and peace-of-mind solutions
- Key challenges that the industry as a whole must address
- New entrants
- Initiatives currently in play to address challenges and maintain the vitality of the professional home security market
Sikes will participate at Smart Home Summit in London on 21-22 September 2016 as a moderator of the session “Smart Home Monetization” and chair for the session “Your Questions Answered by our Expert Smart Home Panel.”
Parks Associates will also present and discuss the firm’s European and global IoT research at the 11th-annual CONNECTIONS™ Europe: Smart Home, IoT, and the Connected Consumer, 2-3 November 2016 at the NH Grand Hotel Krasnapolsky in Amsterdam. For more information, visit http://www.connectionseurope.com or contact firstname.lastname@example.org, 972-490-1113.
For more information about Parks Associates’ research, contact email@example.com. To schedule an interview with an analyst or to request specific energy management data, contact Holly Sprague at firstname.lastname@example.org, 720.987.6614.