3.10.20 – SSI – DALLAS
The research firm’s DIY Home Security Tracker finds do-it-yourself security solutions make up the majority of new security households.
DIY security systems are taking a larger share of the residential security market due to growing popularity among security households, according to Parks Associates.
The research firm’s DIY Home Security Tracker notes that among consumers who acquired their security system less than two years ago, 60% are self-installed, compared to only 7% of systems purchased more than six years ago.
“Most DIY households use professional monitoring services, but currently 63% of these DIY systems have had their monitoring subscription for less than two years,” says Dina Abdelrazik, senior analyst, Parks Associates.
The majority of DIY security owners, Abdelrazik continues, are also self-installing add-on smart home devices. Hence, companies are expanding their product lines to meet consumer demand, including Abode, Array by Hampton and Blue by ADT.
The traditional residential security channel is dominated by professionally installed, professionally monitored systems, but smart home device manufacturers are increasingly extending into the security space. Currently 33% of U.S. broadband households own a security system, an 18% increase from 28% in 2018, according to Parks Associates.
DIY Home Security Tracker assesses the impact of DIY security solutions to expand the market and the potential cannibalization of existing security channels. It also gives an analysis of industry trends, market strategies of key players, and competitive analysis on leading products in all key product categories. The research outlines returns, satisfaction with DIY systems versus traditional systems and the buyer journey, according to the research firm.