Letha McLaren, CMO, Icontrol Networks, provides insight on several key industry trends for Parks Associates’ 20^th-annual CONNECTIONS Conference, which will be held May 24-26 in San Francisco:

What is the biggest change you have seen in the past year in the connected home and entertainment industries?

We saw a lot happen across the smart home industry last year including the introduction (and success) of some new innovative smart home products, but unfortunately we also saw some trouble among young smart home companies. Many became concerned that the market wasn’t ready and consumer interest wasn’t there. I believe those were overreactions and consumer interest does indeed exist, especially where channels are able to build consumer awareness for the value proposition of the products and services. In fact, Icontrol Networks’ DIFM Smart Home Survey found extreme feelings of satisfaction among customers with professionally installed smart home systems – 96% said they would purchase their systems again and 98% would still opt for professional installation today. As consumers continue to become more educated on the market, it’s likely that they’ll discover what type of smart home works best. At the same time, it’s likely that we’ll continue to see positive customer satisfaction.

What do you think is the biggest driver for the connected consumer market?

Security remains the biggest driver for the smart home market. Ninety percent of respondents to Icontrol Networks’ 2015 State of the Smart Home Report said security was the main reason to purchase and use a smart home system. In fact, 69% of people said they would be hesitant to purchase a smart home system that didn’t include security and 35% said they absolutely wouldn’t consider purchasing one. Consumer feedback is showing us that security should be at the core of smart home devices to appeal to the mass market, so we as an industry need to listen.

McLaren will speak on the session “Service Providers and Device Makers: Smart Home Friends or Foes?” on Tuesday, May 24 at 9:15 a.m. Other speakers on the panel include WeatherBug Home, Cox, Honeywell Connected Home.

For more information on CONNECTIONS, visit www.connectionsus.com or register by clicking here.

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