Parks Associates: New Service Models Emerge for Smart Home Ecosystem

Two-thirds of single-family homeowners likely to adopt smart home service subscriptions

DALLAS, April 29, 2025 /PRNewswire/ -- Parks Associates' study Smart Home Services: Safety, Prevention, Comfort reveals that 66% of US single-family homeowners are likely to adopt technology-enabled home services, such as smart HVAC monitoring, leak detection, and home technology support. This growing interest signals an important evolution in the smart home ecosystem from standalone devices to integrated service models.

Parks Associates will share more on this topic at the 29th annual CONNECTIONS™: The Premier Connected Home Conference, May 13-15 at the Renaissance Dallas at Plano Legacy in Plano, Texas. Sessions explore how smart home services are evolving to deliver greater value, convenience, and security for connected households.

Parks Associates research, featured at CONNECTIONS™, identifies strong willingness to pay among consumers, with the majority of interested households willing to invest $10 to $30 per month for convenient, proactive services. Notably, HVAC and fire safety monitoring services represent the largest market opportunities, combining broad appeal with high revenue potential.

Featured CONNECTIONS™ speakers who will discuss the future of home services include the following:

• Matt Alba, Product Manager, GVTC Communications
• Greg Baldauf, Director, SmartLife & Cloud Solution Partnerships, Calix
• Jeff Bales, VP, Insurance Partnerships, Flume
• Gene LaNois, VP, Product Marketing, Vivint, an NRG company
• Dave Mayne, President, M2M Services
• Joe McNulty, SVP of Product & Partnerships, Whisker Labs
• Patrick Serrato, Director of Ecosystem Business Development and Product Strategy, Xthings

"As homes become more connected, consumers expect technology to deliver peace of mind, efficiency, and expert support," said Jennifer Kent, VP, Research, Parks Associates. "Smart home industry players must broaden their view of the market in which they participate. There are untapped opportunities to leverage the growing base of smart home technologies to generate service revenue, whether directly to the consumer or through a B2B arrangement."

Key findings from Smart Home Services: Safety, Prevention, Comfort, a study of 8,000 US internet households, include:

• 66% of single-family homeowners are likely to adopt at least one tested smart home service.
• HVAC monitoring services and fire safety monitoring services each could generate more than $2 billion in annual recurring revenue.
• Consumers prefer trusted brands like security companies and professional contractors to deliver smart services.
• 46% of households with smart thermostats have received them through a professional HVAC provider.
• Younger households prioritize mobile alerts and easy online scheduling for services.

Smart Home Services: Safety, Prevention, Comfort analyzes adoption drivers, willingness to pay, and strategies for industry players to capitalize on new service revenue models across smart home, energy, broadband, and insurance sectors. To schedule an interview with an analyst or to request specific data, please contact Mindi Sue Sternblitz-Rubenstein, [email protected], 972-490-1113.

About Parks Associates
Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com

Contact:
Mindi Sue Sternblitz-Rubenstein
Parks Associates
972.490.1113
[email protected]

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SOURCE Parks Associates