Vivint, ADT, AT&T and Comcast head a US list of ‘Top 10 smart home service providers’
Strategy Analytics has released the results of its competitive analysis of US providers of fee-based smart home services such as self-monitoring, notification, automation and energy management services — apart from or in addition to professionally-monitored interactive security.
The Top 10 service providers have a collective total of 2.4 million subscribers accounting for more than 80% of all smart home service subscribers. Vivint is judged to be the number one provider with nearly 740,000 customers opting for smart home services. ADT’s Pulse service follows closely with 690,000 subscribers, more than double the number achieved by AT&T and Comcast.
The adoption of interactive security in the US is a major driver of growth in the number of smart homes. The number of subscriptions rose 29% in 2016 to 8.8 million, accounting for 30% of all smart homes. However, not all who subscribe to professional security opt for automation of lights, climate control, and other systems in the home.
“The percentage that does opt for these features is quickly becoming a key success metric for interactive security providers,” stated Joe Branca, principal analyst and co-author of the study. “Customers with full smart home solutions are “stickier” customers and are willing to pay higher monthly fees.”
There were 30 million homes in the US at the end of 2016 with one or more smart home capabilities and Strategy Analytics projects this number to grow 20% to more than 35 million by the end of 2017.
Interactive security subscriptions grew 29% during 2016 and will continue to grow in 2017 to 11 million by the end of the year – accounting for 31% of smart homes and continuing to be a major driver in the growth of the US smart home market.
The full report can be found here.
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