NAPCO Security Technologies, a supplier of high-performance electronic security equipment for over 30 years, reported vibrant growth for its iBridge Connected Home solutions. The launch occurred approximately nine months ago and new activations have grown sequentially 62% and 45% for the 3 months ended September 30, 2013 and December 31, 2013, respectively.
NAPCO Security Technologies, a supplier of high-performance electronic security equipment for over 30 years, reported vibrant growth for its iBridge Connected Home solutions.
The launch occurred approximately nine months ago and new activations have grown sequentially 62% and 45% for the 3 months ended September 30, 2013 and December 31, 2013, respectively. These SaaS-based products, which enable remote management of thermostats, locks, lighting, video cameras, security systems and small appliances via most smartphones, create a growing base of recurring revenue for NAPCO, and dealers share in the recurring revenue opportunity, creating a strong incentive to sell the product to their end users.
Richard Soloway, CEO, stated, "The trend toward technology to facilitate a connected home is clear, driving the sales growth we are experiencing for our comprehensive iBridge solution. NAPCO pioneered 1 of the first connected home, internet-enabled products, with the launch of the iSee Video product line, a few years ago. The first product of its kind, iSee Video gave consumers the ability to see real-time video of their homes, from any smartphone, tablet or PC. Building upon that proprietary, patented technology, we developed for iSee Video, last Spring saw the launch of the iBridge product line, the most comprehensive suite of broadband-based, connected home solutions on the market today."
Installed by NAPCO's vast dealer network, a complete iBridge system enables consumers to remotely control and schedule, all major home systems, including:
* Security
* Thermostats
* Lighting
* Small appliances
* Motion/occupancy sensing
* Video cameras and recorders
* Door locks
Additionally, text, email and video notifications are sent to users, notifying them of any important status conditions or events. All of this utility is controlled by the consumer using free NAPCO proprietary apps, when using a smartphone or tablet or operating from any available internet-connected PC.
The iBridge system is the most feature-rich option in the connected home category when it comes to video, delivering an unrivaled ability to transmit real-time, high-resolution and frame rate video to consumers anytime, anywhere, through any internet-enabled device. By contrast, most of NAPCO's competitors rely on limited bandwidth, cellular networks and as a result, are limited to distributing low-quality, still snapshots, rather than true video. Most impressively, iBridge is the only connected home, server-based product line in the industry, that enables consumers to record and access 24/7 video recordings of their residences, remotely, via the internet. iBridge also works with a NAPCO 7-inch, Wi-Fi, touch screen tablet, for local control. This wireless, centralized control center lets people operate their alarm systems, video cameras, electronic locking, lighting and temperature management systems, from anywhere in the home.
Mr. Soloway continued, "The trend is clear, and consumer adoption is increasing. We are still in the early stages of this paradigm shift, but consumers increasingly recognize the benefits of monitoring and controlling their home systems, from almost anywhere via their smart devices. Some of the largest companies in the world are participating in the connected home movement, and NAPCO is excited to be part of this emerging and accelerating trend."