Parks Associates research reveals approximately 66% of all U.S. broadband households find a smart home bundled package appealing, which could include a variety of home safety, security, and management offerings. Home management is the most appealing bundle, including safety alerts, remote home monitoring, and remote management of the home’s thermostat.
The research firm will host Smart Energy Summit: Engaging the Consumer on February 17-19 in Austin, Texas, which includes the session “Partnerships & New Business Opportunities for the Smart Home Platform,” 1:30 p.m. on February 18 to discuss mutual goals among utilities, service providers, OEMs, and other third parties.
“Consumers, while interested in smart home services, are averse to long-term contracts, but there are other, alternate options for building revenues,” said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates. “To avoid monthly monitoring fees, consumers are willing to let their service provider adjust their thermostat during peak hours. There is also interest in in-app purchases and advertising, which could be a source of incremental revenue for product manufacturers and service providers.”
Major service providers, including Verizon, AT&T Digital Life, Time Warner Cable, and Comcast, have entered the home security and controls market, with offerings that could form the foundation for a complete smart home system. The session, moderated by Kerber, highlights areas where the goals of third parties and utilities align to create new market opportunities.
Joe Jankosky, Director, Intelligent Home Vertical Markets, Time Warner Cable
Jay Kenny, VP, Marketing, Alarm.com
Letha McLaren, VP, Product Management, iControl Networks
Kevin Meagher, VP & GM, Smart Home, Lowe’s