Napco Security Technologies’ Chairman and CEO, Dick Soloway, recently spoke about the prospects of the company’s home automation product during a webinar about apps and interactive services at an electronic security trade show in U.S.
Napco Security Technologies' Chairman and CEO, Dick Soloway, recently spoke about the prospects of the company's home automation app during a webinar about apps and interactive services at an electronic security trade show in U.S.
"The home automation app represents a strategically important service offering that we believe will be key to our participation in a market that we think can proliferate from a penetration rate of 20-25 percent in US households for traditional security systems as it has been for two decades, to as high as the 60 percent share that is held by smart phones and tablets as of right now in 2013," said Soloway.
The new systems, formerly reserved for elite high-end lifestyles are becoming affordable to the mass market American homes, said Soloway. As a result, security system dealers have seen their recurring monthly account fees double, and increased their sales close rates and equipment sales while reducing subscriber attrition. “The company is optimistic about the millions of dollars in incremental business this new category can potentially generate," Soloway added.