Parks Associates has released the whitepaper Control the Network, Control the Costs: Solving the Wi-Fi Problem in Home Security, developed in partnership with Johnson Controls. New research from Parks Associates shows a growing demand for smart home products through security system providers, but technical challenges with Wi-Fi are pervasive. Fifty-one percent of smart home device owners report they experienced a loss of wireless connectivity.
The whitepaper focuses on the rise in demand for Wi-Fi devices integrated with security and smart home solutions, the impact of poor Wi-Fi network performance on the professional install channel, and the opportunity for dealers to own and manage the Wi-Fi network remotely, which would reduce their costs, limit truck rolls, and improve the user experience.
“Loss of wireless connectivity is the top problem affecting owners of smart home devices, and this has been consistent for the past four years,” says Jennifer Kent, VP, research, Parks Associates. “Interest in network services doubled from 2020 to 2021, and it strongly correlates with the total number of smart home devices owned — the greater the number of devices owned, the higher the interest in these services. Dealers are in a strong position to help support, and consumers show a strong willingness to pay for a bundle of advanced network monitoring services.”
Dealers report that smart home devices can also bring additional recurring monthly revenue (RMR) and increase customer stickiness. Cutting attrition in half would add additional money to the bottom line, and a simple and more reliable user experience with integrated smart home devices can help retain customers.
“Cameras, video doorbells, smart garage openers, touchscreen tablets, and more all depend on the end-user’s Wi-Fi network, and the increased volume often creates network challenges for dealers and consumers alike,” says Jeremy McLerran, senior director of marketing – security products, Johnson Controls. “Our solution is purpose-built for the professional installer and improves the installation process, boosts network performance, and provides remote connectivity for support without rolling an expensive truck.”
Visit https://www.parksassociates.com/wi-fi to download the whitepaper.