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In The News

The Smart Money: How Smart Homes Are Reshaping the Insurance Industry

January 22, 2024

home automation

SecurityInfoWatch.com

smart energy devices

According to Parks Associates research, 42% of U.S. households have at least one smart home device, and the highest adopted device is the video doorbell – now in 20% of U.S. internet households.

Currently, only 10% of households own a smart smoke/CO detector, and only 3% own a smart water leak detector.

parks1

In Parks Associates’ Q2 2023 survey of 8,000 internet households, 64% were homeowners and 58% reported having a homeowner’s insurance policy. Overall, roughly 90 million U.S. internet households have a homeowners or renters insurance policy.

From the article, "The Smart Money: How Smart Homes Are Reshaping the Insurance Industry" by Elizabeth Parks

Previously In The News

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The latest entry in our 2025 Security Industry Predictions series is Elizabeth Parks, president and chief marketing officer at Parks Associates, which produces research about what’s going on in the ph...

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The Smart Money: The Evolution of Smart Locks in Smart Homes

Parks Associates estimates $13 billion in annual revenues for professional monitoring of residential security systems and video devices by 2025. Going forward, we project the strongest growth for prof...

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