9-26-20 – SSI -DALLAS
That’s according to a Parks Associates survey that also queries U.S. broadband households about their opinions on self-monitored security systems.
In a recent survey of U.S. broadband households, Parks Associates found that a larger percentage of consumers (60%) feel “safe enough” with only a professionally monitored home security system, versus 55% expressing they feel “safe enough” with only a self-monitored home security system.
The research firm‘s “DIY Home Security Tracker” and “Quantified Consumer: Safe Enough – Consumer Attitudes Toward Alternative Security Solutions” provide insights and track the industry and consumer trends in the residential security market.
“While more consumers feel ‘safe enough’ only with a home security system, security-focused smart home devices deliver this same baseline feeling of security for a majority of households,” says Brad Russell, research director, Connected Home, Parks Associates.
Russell continues, “A significant portion of households associate these products with a sense of security, which increases as more devices are added to the bundle. This creates a serious challenge to the traditional home security industry as cost is a major barrier that weighs down the overall appeal of their solutions.”
Consumers identify security systems as providing the strongest sense of “safe enough” security, but these systems are the least appealing when price is considered. Smart home security devices are a key alternative for cost-conscious consumers when purchasing equipment to secure their home, with a bundle including an all-in-one camera and an outdoor light fixture with a camera as the most appealing.
“As more players from the CE industry enter the DIY security space, they bring an expertise in product design that improves ease-of-use and attractiveness in smart home products,” Russell says. “This emphasis on user experience puts pressure on legacy security manufacturers and service providers to deliver solutions and systems that meet or exceed this higher bar, while still keeping costs low.”Related:Help SSI Deliver Your 2020 Residential Market Report
More Recent Research
Nearly a third of residential security dealers now sell DIY/self-installed systems, about equal to 2017, and down from 2018 where 47% reported they sold DIY/self-installed systems, as Russell reports in a recent installment of the DIY FYI series.
Of the dealers offering DIY security solutions, the vast majority state they do so in response to consumer demand and report they break even or better on the hardware and then benefit from the professional monitoring fees.
Parks Associates consumer data shows that among consumers opting for DIY security solutions, 86% did so because they believed DIY provided the best value.