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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.

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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.

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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. 

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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.

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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

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