According to the researchers, this growing interest signals an important evolution in the smart home ecosystem from standalone devices to integrated service models.

Parks Associates recently shared details on this topic at the 29th annual Connections in Plano, Texas.  Sessions explored 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. The Connections conference also featured a variety of expert speakers who discussed the future of home services.

"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."

Some of the 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 prioritise mobile alerts and easy online scheduling for services.