Smart Thermostat Owners Willing to Pay for Preventive Maintenance, Says Parks

Some 65 percent of smart thermostat owners are interested in a dealer service that periodically cleans and performs preventive maintenance on their HVAC equipment, blogged Parks Associates Tuesday. “Connectivity, data analytics, and ecosystem convergence in the smart home are creating opportunities to expand traditional services and realize new revenue streams,” and that’s driving a transition in vertical industries from products to services, said President Elizabeth Parks. Service opportunities, paired with smart home solutions, include installation and technical support, maintenance and repair services, remote monitoring and network security, which can bring recurring revenue opportunities to companies and potential cost savings to consumers.