NAPCO Security Technologies, a global supplier of electronic security equipment for more than 30 years, reported vibrant growth for its recently launched, iBridge Connected Home solutions.
The launch occurred approximately nine months ago and new activations have grown sequentially 62% and 45% for the three months ended September 30, 2013 and December 31, 2013, respectively. These SaaS-based products, which enable remote management of thermostats, locks, lighting, video cameras, security systems and small appliances via most smartphones, create a growing base of recurring revenue for NAPCO, and dealers share in the recurring revenue opportunity, creating a strong incentive to sell the product to their end users.
Installed by NAPCO’s vast dealer network, a complete iBridge system enables consumers to remotely control and schedule, all major home systems, including security, thermostats, lighting, small appliances, motion/occupancy sensing, video cameras and recorders, and door locks.
Additionally, text, email and video notifications are sent to users, notifying them of any important status conditions or events. All of these are controlled through NAPCO’s proprietary apps for Internet-connected mobile devices or PCs.