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additional door/window sensors, pet friendly motion detectors, flood detector, connected smoke alarm, Nest thermostats, wireless cameras, etc. , the equipment belongs to the customer and does not have to be returnedwhen the service is terminated. In order to separate themselves from the pack, the SimpliSafe website highlights some major differences between them and some of the larger
home security companies. One of the main differences is that SimpliSafe claims no hidden fees and
requires no commitment or service contract. As highlighted in the New York Times articles on SimpliSafe, many home security systems require up to a three year contract that can costthousandsof dollars, and often have add on fees that raise the actual cost of the service from what is stated as the monthly home security monitoring fee. SimpliSafe requires no such contract and no auto renewal fees.
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Beyond this market are less expensive smart home devices and systems, largely manufacturer by security, software and electronics
firms. Rival software firms Apple and Google are two major players in this marketspace. Google recently acquired the aforementioned Nest Learning Thermostat for $3. 2 billion, and has designs on the home security market. Apple is designing a software platform to control smart home devices, and is in talks with a group of retailers to incorporate it into their devices. Another large player in this market is ATandT, whose Digital Life service, consisting of one app and a wireless adapter device, aggregates all services and devices and the consumer pays a monthly fee for this service. Samsung, GE, Comcast, Time Warner, Staples, Best Buy, ADT, Tyco, and other firms are also in the mix. To harness the full potential of the smart home automation, disparate manufacturers will have to develop technologies based on common open standards. Very few, if any, firms produce every device found in a household, and it is unlikely that consumers would be brand loyal enough to buy every household device, or even a majority of them, from a single manufacturer. So if manufacturers
want to ensure that their devices talk to others, they will have be developed under common standards – standards also shared between software companies. This level of collaboration may take some time – many of these firms are direct competitors after all, but it is necessary.
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2 Market Estimates and
Forecast by Service, 2018–202312. 3. 10. 3 Market Estimates and Forecast by
Power Source, 2018–202312. 3. 10.