According to a recently completed survey with 1,000 U.S. online adults by ON World, 46% say that safety and security is the number one reason they would adopt a smart home system.
San Diego, California October 29, 2015 -- Safety and security is the primary smart home adoption driver for U.S. consumers, according to global technology research firm ON World.
"Bundling smart home services along with traditional security and safety systems has created a rapidly growing IoT ecosystem," said Mareca Hatler ON World's research director.
ON World's recently completed survey with 1,000 U.S. online adults found that 46% selected safety and security as the primary reason they would adopt a smart home system. This is nearly two times more than other adoption considerations such as energy savings, remote web access and smart lighting.
ON World's evaluation of 560 smart home products found that safety and security products currently make up 30 percent. The fastest growing product segments include video security cameras, smart doorbells and smart smoke detectors that together have increased sales by 162% over the past year.
Competition is intensifying for smart home cloud service providers such as Alarm.com and Icontrol Networks. Home service providers such as Comcast and Vivint have launched their own cloud platforms and Vivint also provides several of its own hardware products including a distributed video storage system well as a smart doorbell, developed in-house.
Dozens of smart home safety and security products have been launched over the past two years and many of these have completed seed investment from crowd-funding investors. A few of these include video doorbells by Ring, SkyBell and iRulu; smart locks by iBluLock, Noki and Terminus; and smart home security systems such as Blink, BuddyGuard and Sentri.
By 2020, there will be over 37 million smart home safety and security systems installed worldwide generating $12 billion in annual revenues.
ON World's report, "Smart Home Safety and Security," covers 12 smart home product segments for safety and security in the managed services, retail/DIY and professional installer channels. It includes the results from the recently completed survey, a competitive analysis and in-depth 6-year forecasts for installed systems, software and services as well as annual unit shipments by product segment, market channel, technology and geography. The report may be purchased separately or as part of a report set.
More information and a free executive summary is available from ON World's website.
About ON World:
ON World (http://www.onworld.com) provides global business intelligence on smart technology markets. Since 2002, our market research and information services are used by Fortune 1000 companies, startups and investors worldwide.