Though it’s nothing new for most ESA companies, a recent study re-emphasizes why our members should be thinking ahead regarding customer offerings. We’ve come a long way. From scaring burglars away by activated sirens, to adding monitoring services, video-related products and access to your system from handheld devices, our industry has grown, adapted, developed and deployed the products sought by customers.
This new study, from Parks Associates, emphasizes that home energy management is going to be a huge market. They found that 60% of homes will have networked energy management by 2022, and that the market will generate $180 million by 2015. You may think those dates are far in the future but they aren’t. It will be here faster than you think, and now is the time to start looking at how you can profit from this trend.
We urge you to explore and see what’s out there because competition is going to change in the next 10 years.
This may mean you penetrate a new market or that your product line evolves along with the desires of your customers. Whether you invest in this trend or not, the company you are today will change between now and 2022, and it’s better to be aware and prepared for what the customer of tomorrow will seek.
We’re here to help you so keep reading this blog, stay active in ESA, join our committees, and let us know if you have questions.