22. August 2016 · Comments Off on IHS: Smart home growth hindered by lack of awareness, fragmentation · Categories: News · Tags: , , , ,

While the advent of smart home solutions has created new revenue streams for residential security companies and subsequently increased the value that an alarm system provides to consumers, the technology still faces several challenges that could hinder its growth moving forward.   In fact, according to Tim Hewitt, analyst for security and building technologies at IHS Markit, while the initial uptake of smart home systems by early adopters was in line with expectations, existing market barriers have become more significant as companies have tried to expand their offerings to the broader market. As a result, Hewitt said the market research firm has revised its forecasts to account for the lack of broader consumer interest in connected home products.

Source: IHS: Smart home growth hindered by lack of awareness, fragmentation