Providing market intelligence for more than 35 years

In The News

The Smart Money: Adoption Rates on the Rise

Parks Associates research finds that 45% of U.S. internet households own a security solution, and 32% subscribe to a security service.

67d9cd0bced70d1648b1755c Chartpa Security Solution Adoption 1200px 2

 

Parks Associates data shows that 26% of home security system owners or intenders desire video analytics to identify specific events, such as distinguishing between people, packages, or cars.

chartpa_video_doorbell_or_smart_camera_ownership_1

Many consumers are renting single-family homes rather than purchasing. According to a new Parks Associates study, Single-Family Renters: Connectivity & Smart Home, this trend creates a unique and expanding market for build-to-rent (BTR) developers, internet service providers, residential security companies, and smart home solution providers.  

The research revealed that roughly 60% of single-family renters find having security systems and smart home devices pre-installed makes a home more appealing to renters. 

chartpa_impact_of_security_system_and_smart_home_d

Safety and security are of great interest to residents and prospective multi-family residents, with a recent Parks Associates study rating the importance of security systems at the same level as a fitness center or gigabit internet speeds.

chartpa_adoption_of_security_system__professional_

Parks Associates research shows the vast majority of SMBs use an access control or alarm system, and most have professional monitoring. Some businesses opt for fully integrated security systems, while 8% rely on stand-alone devices like smart locks, cameras, or video doorbells. Cybersecurity is also a major concern, with 57% of SMBs subscribing to a cybersecurity or antivirus service and 82% taking steps to reduce cyber threats, such as installing security software (44%).

From the article, "The Smart Money: Adoption Rates on the Rise" by Elizabeth Parks

Previously In The News

Report: Viewers Say Churn is Based on Lack of New, Original Content

According to Parks Associates, it only gets worse from here. In its 2022 “OTT Streaming Trends to Watch” white paper, their data shows that the average churn rate was 40% in 2020. Right now, the avera...

How fuboTV Plans to ‘Expand the Breadth of Sports’ to their Live TV Streaming Service

There are 75 million people in the US who have an MVPD service and based on the most recent Parks Associates report, 43% of cable TV households will likely switch to a virtual MVPD streaming service....

Creating Spotify for sports to counter piracy

Research from Parks Associates estimates that the cost of video piracy this year alone for pay-TV and OTT providers will be $9.1 billion in lost revenue. By 2024, that number will rise to $12.5 bil...

Percentage Of TV Antenna Households Doubles

The percentage of U.S. homes getting live TV channels through antenna has nearly doubled since 2013, to 15 percent of homes in 2016, according to Parks & Associates. Several factors contributed to the...