Providing market intelligence for more than 35 years

In The News

DIY Security Systems are on the Rise, According to Parks Associates Research

Security dealers are looking to new areas to bolster their revenues, and that includes DIY systems, according to consumer technology and smart home research firm Parks Associates.

According to Jason Paris, vice president of business development at Parks Associates, economic factors and the housing market is giving rise to the DIY security system, which is typically less expensive than more professional-grade systems and costly installation labor rates.

“High interest rates and low home sales meant fewer consumers were moving into resales, a critical time for acquiring a new security system and monitoring services,” Paris says. “Inflation continues to temper consumer spending while DIY products competed with security systems for consumers’ wallets.”

Parks research released in October 2023 found that 10% of U.S. internet households own a DIY security system, and 28% pay for a security service attached to a security system or smart device. This is making it difficult for local security dealers to keep up with national tech-first, online players with a presence in multiple markets.

“Brands must compete on their hardware, price-value equation, ease of purchase, and new features,” says Elizabeth Parks, the research firm’s president and marketing chief. “All major players retained or gained share year-over-year, indicating that the smaller players, including local traditional security dealers, are seeing their share of the market dwindle.”

From the article, "DIY Security Systems are on the Rise, According to Parks Associates Research" by Zachary Comeau

Previously In The News

EV owners also use smart home tech

As electric vehicles continue to gain traction, a recent study from research and consulting firm Parks Associates found a growing trend among EV owners: A strong inclination toward adopting smart home...

Need to Know: Why do we need cross-media measurement?

According to research firm Parks Associates, the average U.S. household with internet access owns 17 connected devices. Even if we strike security cameras and wearables from the list, that’s a lot of...

How insurers are using smart-home technology

A growing number of insurers are following suit, partnering with smart-home technology companies to prevent and manage claims while also enhancing their value proposition, says Jennifer Kent, vice pre...

EVs Need Long-Term Love to Live Up to Their Engineering

A new survey from Parks Associates finds that “Inflation and interest rates are up, and consumers perceive electric vehicles as expensive, challenging to charge outside the home, and limited in range....