Security System News ran a recent article sharing information from market research firm Parks Associates. Parks is predicting that an increase in smart home controllers will help drive the increased adoption of home security systems—moving the penetration rate of home security systems past the 20 percent mark up to 26 percent by 2020.
Parks Associates estimates that by 2020 more than 50 percent of U.S. broadband households will have a smart home controller, up from 13 percent in 2015, and 24 percent will have an IP camera, up from just under 10 percent in 2015.
In addition to the dramatic increase in smart home controllers, unit sales of IP cameras will reach nearly 6 million in 2016, including 3.2 million first-time sales. By 2017, the number of replacement or additional IP camera sales will exceed the number of first-time sales, according to Parks.