LAS VEGAS — Best known for selling security systems for homes and businesses, Alarm.com (ALRM) sees a big opportunity in the wellness market.
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The Tysons, Va.-based company is at CES 2019 this week demonstrating devices and services to support independent living for senior citizens.
"I believe it's going to be a bigger market than security," Steve Chazin, Alarm.com vice president, told Investor's Business Daily.
Wellcam Services
At CES 2019, the company is touting its Wellcam home-monitoring camera and Wellness Insights service. Its offerings provide peace of mind for people wanting to keep tabs on their aging parents.
The Wellcam provides a 180-degree field of view of a home and provides a direct connection between Alarm.com subscribers and their loved ones, Lainie Muller, director of wellness at Alarm.com, told IBD.
With Wellness Insights, subscribers can get alerts to unusual activity and status reports on their relatives. There can be alerts for the opening of a door outside of normal hours or not accessing medicine at a prescribed time.
Activity tracking can document events such as kitchen or bathroom visits and sleep patterns.
Alarm.com stock has been consolidating for the last 14 weeks with a buy point of 60.30. It dipped 0.5%, near 51.20, in morning trading on the stock market today.
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The post Alarm.com Sees Growth Opportunity In Wellness Market appeared first on Investor's Business Daily.
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