Smart Tech to Push Security Monitoring Revenue to Over $14 Billion by 2020, Says Parks

More than 26 million U.S. broadband households will have professionally monitored security by 2021, said a Tuesday Parks Associates report. Revenue from professionally monitored security will top $14 billion by 2020, it said. Thirty-seven percent of U.S. smart home device owners made their purchase to keep their home safe, and 29 percent wanted to monitor their home while away, said a Parks survey. A fifth of U.S. broadband households plan to buy a smart all-in-one-security product in the next 12 months, it said. Smart devices and services have opened new opportunities in the home security market, said analyst Tom Kerber. "Security providers must adapt to this trend and embrace the new IoT reality, which will expand the market for monitoring services and ultimately bring provider higher revenues.”