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