Residential Security Tracker, announced during ISC West, highlights current landscape of residential security market, including adoption of DIY solutions
New Parks Associates consumer research announced today at ISC West reveals that 50% of all security system sales in the past year were DIY solutions. The firm’s Residential Security Tracker notes that systems with professional installation continue to hold about 50% of the marketplace, but if consumer intentions hold, DIY systems will soon constitute the majority of the market. The firm’s4Q 2021 update assesses the residential security market, including new trends and the impact of new, advanced, and DIY security solutions to expand the market.
“DIY providers offer multiple smart home devices to accompany their systems, including cameras, smart thermostats, and smart lighting options," said Jennifer Kent, Vice President, Research, Parks Associates. “Device manufacturers can also add a monitoring line to any product with occupancy sensing, connectivity, and a control platform, so competition within the DIY space, as well as between DIY and professional offerings, will intensify in 2022.”
Both DIY and professional install providers are driving product expansion and innovation through the need to differentiate to maintain strong market positions. Cameras and video doorbells are the top two devices security system owners report adding to their systems, followed by smart door locks and additional motion sensors. For all US households, video doorbells are the top smart home device—15% of US internet households owned a smart doorbell as of Q4 2021, up from 10% in 2019.
The Residential Security Tracker also finds energy is a key adjacency in the security market. Many security companies have partnered with companies offering energy generation, storage, or management capabilities, or they have launched their own initiatives. ADT recently completed the acquisition process of Sunpro Solar and announced the launch of ADT Solar, while Brinks Home has partnered with Sunnova to enable dealers to offer customers Sunnova’s portfolio of solar, battery, and energy services.
Eight percent of US internet households report owning power-generating solar panels (solar PV), double the rate five years ago. Security system owning households strongly over-index on solar ownership, with 17% of all security system owning households reporting that they also own solar PV panels.
“Expect security providers, with new energy capabilities in their portfolios, to expand their sales targets to MDUs and commercial entities that are interested in adding energy management and savings, including builders, property managers, and small businesses,” Kent said.
Parks Associates’ complimentary whitepapers feature the firm’s latest data and insights on trending topics in the residential security market:
- Value Beyond Home Security: Expanding Product Ecosystems, developed in cooperation with Alarm.com, addresses the expansion of professional services beyond home security.
- Home Security: Choice is the Ultimate Value Proposition, developed with XFINITY HOME, explores the market trends specific to the role of the broadband service provider in providing installation and services for home automation and residential security.
About Parks Associates
Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.
The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.
Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com