New white paper, released in partnership with Alarm.com, addresses opportunities for security providers to offer energy management solutions
DALLAS, March 30, 2023 /PRNewswire/ — At ISC West, Parks Associates today announced the new white paper Energy, Security, Automation: Converging into Peace of Mind, which explores the convergence between security, home automation, and home energy solutions. The firm’s latest data shows 16% of households currently have a smart thermostat, and while only 5% of internet households own an EV today, purchase intentions are growing.
Developed in partnership with Alarm.com, the research paper highlights the major changes occurring in the energy space as supply and distribution race to keep up with growing demand and as consumers grapple with higher costs. As energy consumption becomes more important to consumers and technologies advance, adoption of smart energy solutions is increasing.
“The home energy industry is at the beginning of a major shift. As energy prices rise, consumers are looking to save money but face multiple challenges,” said Chris White, Research Director, Parks Associates. “Technology such as smart thermostats, smart plugs, and smart energy monitoring devices can help, but familiarity is low. Security providers are a natural channel to provide energy management solutions, as they can integrate them with security systems in the home and then work directly with consumers to configure these solutions for maximum utility and savings.”
“With the start of summer just around the corner, energy and cost savings are top of mind for consumers,” said Abe Kinney, Senior Director of Product Management at Alarm.com. “Our platform serves as a foundation for service providers who can customize a variety of energy management solutions for homeowners, including solar monitoring, that fully integrate with our residential security services.”
Parks Associates’ consumer research, including nationwide quarterly survey of US internet households, finds that nearly 40% of US internet households report owning a security solution for their home. The research white paper assesses how energy management drivers and the enormous influx of government funding are creating new opportunities for smart home manufacturers, security players, and energy companies to meet growing demand.
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About Parks Associates
Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.
The company’s expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.
Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. http://www.parksassociates.com
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SOURCE Parks Associates