According to Parks Associates, sales of connected consumer devices will exceed 520 million units by 2022, including networked cameras, security systems, and connected health devices.
"A future-flexible platform is a critical component for success in the IoT because smart strategies represent a long-term investment," said Brad Russell, research director, Connected Home, Parks Associates. "While service providers are in an excellent position to deploy, maintain, and service the smart home, they generally do not want to develop and maintain their own proprietary solution to do so. But the market has matured where vendors are offering new turnkey solutions, and the right long-term partnership enables providers to serve the varied present and future use cases."
"Service providers need to re-position themselves for growth and gain a foothold in the smart home. The innovators are starting with tools that provide visibility into the home and supporting systems so they can deliver best-in-class whole-home WiFi coverage," said Michael Weening, EVP of field operations for Calix. "Once the foundational brands and systems are in place - such as those rapidly coming to market from tech giants - it will become increasingly difficult for new entrants to gain any traction. The opportunity is now."
Other findings indicate:
- More than half of professionally monitored subscribers have at least basic interactivity with their security system.
- At the end of 2018, 24% of U.S. broadband households subscribed to professional monitoring.
- 10% of U.S. broadband households own at least one networked camera.
- The majority of consumers 50+ years old are willing to pay $30 per month for an independent living system that has their must-have features, such as fire detection, panic buttons, automatic alerts sent to loved ones, and home security devices to deter intruders.