Over 50% US Home Security Subscribers Have Interactive Smart Home Services
According to Parks Associates “360 Deep Dive: Driving RMR Growth with Add-on Products & Services,” the security industry recurring monthly revenue (RMR) growth has plateaued since interactive services have reached 57% of security subscribers. The adoption of interactive services challenges the security industry to find solutions to expand RMR, such as cyber security services, video verification, and personal emergency response.
The top five desired capabilities of cybersecurity service are:
- Protect computers, smartphones, and tablets from viruses
- Protection of connected devices from hackers taking control
- Protect home network with firewall
- Protection of connected devices from viruses and ransomware
- Protection of connected devices from hackers monitoring activity
Additional findings include:
- Security subscribers with interactive services pay an average of $9 per month for the service.
- Only 23% of current security subscribers have an integrated smart home device. 37% of new subscribers have an integrated smart home device.
- Over 20% of current subscribers are very interested in vehicle monitoring and tag tracking services.
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