Smart Thermostats to Reach 13% Adoption This Year in North America, Parks Reports

Smart thermostats will reach 13 percent adoption in North America, vs. 1.5 percent adoption in Western Europe, by the end of 2017, said a Wednesday Parks Associates research report. “Interoperability initiatives at the application layer are moving the industry toward broader compatibility,” said analyst Brad Russell. Interoperability advances aim to bridge the gap between the connected kitchen, connected entertainment systems, connected energy management solutions, “and what we think about today as the smart home,” Russell said. In the security monitoring market, meanwhile, national security players continue to show growth but the number of subscribers has grown only marginally since 2014, said Parks. Interactive services helped boost revenue in home security, and growing adoption of smart home devices and services will open opportunities to bring more U.S. households into the security market, “provided security providers adapt their business models to the new IoT reality,” said analyst Dina Abdelrazik. Some 26.6 million U.S. households with professional security monitoring will generate $14.7 billion revenue in 2021, said the research firm.