New research report of U.S. residential security system market finds over 21 million U.S. broadband households have professionally monitored security
A new Parks Associates report finds smart home offerings have helped revitalize the residential security industry, as the number of households with monitored security rose over 15% in the past two calendar years. The New Face of Home Security - 2015 Edition reports approximately 21 million U.S. homes have professionally monitored security, with another 1.5 million with monitoring in a second home.
“By the end of 2015, nearly six million professionally monitored homes will also have smart home control as part of their security system,” said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates. “Smart home is firmly entrenched as part the U.S. security industry, thanks to both push and pull factors. Companies such as Vivint, AT&T, and ADT have been aggressive in offering smart home features with their systems, while security owners are open to new technologies. Security households are 150% more likely than non-security households to state that they keep up with technological innovations and like to own the latest devices.”
Parks Associates research finds that 35% of U.S. broadband households with security own at least one smart home device, compared to less than 10% of households without a security system. At the same time, the majority of security households rely on professional installation channels for the setup and maintenance of their system—only 14% of current security systems were self-installed.
“The convergence within smart home and security creates great opportunities for multiple channels,” Kerber said. “Our recent Security Dealer Survey finds that 25% of U.S. security dealers expect their revenues to grow more than 15% in 2015.”
Parks Associates will examine adoption of home security systems and convergence with the smart home at the tenth-annual CONNECTIONS™ Summit: IoT, Entertainment, and the Connected Consumer at CES® 2016, January 6-7, in Las Vegas, NV. The event will feature two days of panel discussions on the smart home, Internet of Things (IoT), and connected entertainment, with trends and implications for connected consumers and opportunities for companies to build new revenues and innovative business models.
The New Face of Home Security - 2015 Edition analyzes the issues, opportunities, and challenges facing the many companies active in the U.S. marketplace for security systems and their smart home adjacencies. The report provides a working knowledge of today’s U.S. residential security system market, its players, and the consumers who have adopted security, including survey data from consumers and security dealers and profiles of key players in these ecosystems.
The New Face of Home Security - 2015 Edition is available for purchase at www.parksassociates.com. To schedule an interview with an analyst or to request specific digital health data, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.
About Parks Associates
Parks Associates is a global research, consulting, and marketing firm with 40 years of experience delivering proprietary consumer data and industry insights for businesses. The firm produces market research reports, forecasts, surveys, and competitive business intelligence on connected consumer, small business, and commercial technologies and related business solutions. Parks Associates provides custom research, strategic consulting, and forward-looking analysis across connected home, small business, and commercial markets, including security, smart home, broadband, entertainment, energy, multifamily, smart buildings, connected health, and emerging AI-driven technologies.
Parks Associates supports industry growth through proprietary research, consulting, and executive networking and convenes thousands of leaders each year through its flagship conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.
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