Broadband Households with Residential Security To Grow Significantly in the UK and Spain by 2023: Parks Associates
By 2023, more than 15% of UK broadband households will have professionally installed or nontraditional residential security systems, according to new research from Parks Associates, with nontraditional solutions in the majority. The firm’s Digital Living Forecasts: Professional Residential Security in Europe also notes that more than 10% of Spanish broadband households and 9% of French broadband households will have residential security systems by 2023.
According to Parks Associates, nontraditional security systems include homes with professionally installed systems that no longer subscribe to professional monitoring services and installed security systems that do not comply with the full professional security industry standards, which may include some DIY systems.
“The residential security industry in Europe is facing significant disruption as smart home solutions that blend security with new value-added features enter the market,” said Dina Abdelrazik, Senior Analyst, Parks Associates. “The addition of interactive services in particular is increasing product revenue and service income and staunching customer churn. These non-traditional solutions will drive steady growth in this sector for the next five years.”
The research firm will address new business models, consumer engagement strategies, and value-added services at the 14th annual CONNECTIONS Europe: Strategies for Security and Smart Home, November 19-20 at the Amsterdam Marriott Hotel.
(For more information visit https://www.parksassociates.com)