Home security monitoring is being used by a growing group of home services and device providers as a way to introduce home automation services to homeowner customers.
According to a new ABI Research report, 15 million homes will invest in new connected home security services by the year 2020.
Jonathan Collins, principal analyst for ABI, said that while home security adoption is going to see "significant growth," it will be driven not just by ADT and other traditional home security providers, but also a host of alternative channels, including service providers such as AT&T (NYSE: T) and Comcast (NASDAQ: CMCSA).
Consumers can now choose from an array of non-traditional suppliers, new technologies and innovative services that balance value with cost, Collins said in a release.
One of the interesting side trends that's beginning to emerge is the do-it-yourself (DIY) model, where consumers can install and monitor their own security systems. They can purchase these systems from an array of retailers including Lowes and Staples or standalone devices from Dropcam or smart locks from Kwikset.
ABI said that the demand for smart home systems will surpass traditional professional monitored security subscriptions because they don't require up-front installation fees, monthly payments and long service contracts.
Interestingly, professionally monitored security service providers such as Frontpoint Security and NextAlarm offer solutions where users can self-install their devices, or can integrate existing dormant installations into new IP-based services. In order to thwart this new threat, ABI said that traditional vendors need to look for ways to better integrate their core services with partner smart home services by offering other elements such as "call-center monitoring as a plug-in service to bringing home video monitoring into the call center."
- see the release
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