Providing market intelligence for more than 35 years

Residential Security

Q4 2023

Quantified Consumer

Demand for Security Solutions: Devices, Systems, and Services

This flagship study quantifies security system owners’ purchase journey and assesses the different purchase and ownership experiences among Pro and DIY system owners. In addition, the study investigates purchase trends and triggers; evaluates alternative security solutions that buyers consider at purchase; assesses why consumers move to different security providers, different security solutions, or out of the security market entirely; and tests new peace-of-mind solutions such as cybersecurity, out of-home/personal emergency solutions, vehicle monitoring, smart tags, and pet monitoring.

Key questions addressed:

How are the competitive dynamics shifting in the residential security market?
What are the most impactful triggers for purchasing security solutions?
How do purchase journeys differ for pro- and DIY-installed security system buyers?
How do security households build their systems? Which devices do they acquire at the time of system purchase, and which do they add later?

 

Purchase

Download Table of Contents (PDF)

Executive Summary

Home Security System Ownership, YoY

Installation Method Across All Home Security Systems in US Internet HHs

Installation Method for Home Security Systems Acquired within the Past 12 Months

High Likelihood of Switching to New Professional Monitoring Service Provider

Reason for Switching Professional Monitoring Providers

Devices Acquired as Part of Security System

Length of Continuous Subscription to Professional Monitoring Service 2014 vs 2023

Security Solutions: Adoption & Market Segments

Security Solution Adoption

Paid Security Device Adoption

Home Security System Ownership, YoY

Home Security System Ownership, QoQ

Interactive Systems Adoption Among All Security System Owners

Interactive Systems Adoption Among Recent Security System Buyers

Paid Service for Home Security System, YoY

Home Security System & Service Adoption

Home Security System Installation

Installation Method for All Home Security Systems

Installation Method for Home Security Systems Acquired within the Past 12 Months

Preferred Installation Methodology for Future Security System

Alternative Security Solutions Considered, Among Recent System Buyers

Demographics Breakdown of DIY Installed vs. Pro Installed

Security Age and Usage

Age of Home Security System

Frequency of Using Security System

Security System Acquired Not Currently In Use

Self-Installed System Not Currently In Use

Competitive Landscape

Security System Brand Owned

Security System Brand Owned Among All Recently Acquired System Owners

Security System Brand Owned by DIY Installed vs Pro Installed

Paid Home Security Service by Service Provider

Top Professional Monitoring Service Providers, YoY

Previous Professional Monitoring Security Service Providers

Security Service Provider Net Promoter Score (NPS)

Top 10 Brands by NPS

NPS of Top Security Service Providers, Trending

Purchase Journey

Top Desired Features For Security System

Security System Purchase Channel

Security System Purchase Method

Payment Method Used to Acquire a Home Security System

Average Upfront Fees for Home Security Systems, YoY

Devices Acquired as Part of Security System

Additional Devices Added After Initial Installation

Devices Added to Existing Security System

Acquisition Triggers of Home Security System

Installation Method for Add-On Smart Home Device

Reason for Choosing Self-Installed Security System

Difficulty in DIY Installing a Security System – July 2022

Difficulty in DIY Installing a Security System – Q2 2023

Average Hours Taken to Self-Install a Security System – July 2022

Average Hours Taken to Self-Install a Security System – Q2 2023

Security System Purchase and Intention to Buy

Purchase Intention: Smart Safety & Security Devices

Smart Video Doorbell Brand Owned

Smart Camera Brand Owned

ARPU, Churn, Retention

Average Monthly Fee for Home Security Service, YoY

Avg Monthly Fee by Top 10 Brands, Q2 2023

Length of Continuous Subscription to Professional Monitoring Service

Changes Made to Home Security System in the Past 12 Months

Reasons for Cancelling Professional Monitoring Security Service

Reason for Switching from Self to Pro Monitoring

Reason for Switching Professional Monitoring Providers

High Likelihood of Switching to New Professional Monitoring Service Provider

High Likelihood of Subscribing to Professional Monitoring Service

High Likelihood of Change to My Pro-Monitored Security System

Left Length of Contract, Among Intended Cancellers

Promotion, Incentives, and Discounts

Professional Monitoring Service Subscribing Promotion

Impact of Retention Incentive on Cancellation Plans

Impact of Service Pricing Discount as Retention Tool

Impact of Contract Terms on Cancellation Plans

Reason for Choosing Self Monitoring Service

Reason for Choosing Specific Monitoring Service Over Other Options

Attitudes toward Self-Monitored Security System

Interest in Value-Added Security Services

Interest in Security System Add-on Service

Safety Solution Adoption

People Who Used Safety Solutions in Household

Appendix

Newsletter

The Parks Points Newsletter Features All Aspects Of Our Research, Including Smart Home, Iot Devices, Entertainment And Digital Media, Security, Energy, Health, And Consumer Data.