Register

I agree with the Privacy Policy

In The News

DIY Security Systems are on the Rise, According to Parks Associates Research

February 06, 2024

home automation

security dealers

Security dealers are looking to new areas to bolster their revenues, and that includes DIY systems, according to consumer technology and smart home research firm Parks Associates.

According to Jason Paris, vice president of business development at Parks Associates, economic factors and the housing market is giving rise to the DIY security system, which is typically less expensive than more professional-grade systems and costly installation labor rates.

“High interest rates and low home sales meant fewer consumers were moving into resales, a critical time for acquiring a new security system and monitoring services,” Paris says. “Inflation continues to temper consumer spending while DIY products competed with security systems for consumers’ wallets.”

Parks research released in October 2023 found that 10% of U.S. internet households own a DIY security system, and 28% pay for a security service attached to a security system or smart device. This is making it difficult for local security dealers to keep up with national tech-first, online players with a presence in multiple markets.

“Brands must compete on their hardware, price-value equation, ease of purchase, and new features,” says Elizabeth Parks, the research firm’s president and marketing chief. “All major players retained or gained share year-over-year, indicating that the smaller players, including local traditional security dealers, are seeing their share of the market dwindle.”

From the article, "DIY Security Systems are on the Rise, According to Parks Associates Research" by Zachary Comeau

Previously In The News

Quarter Of Millennials Are OTT-Only Broadband Households

Nearly a quarter (23%) of Millennial heads of household are OTT only households, higher than the national average of 15% among all U.S broadband households. Parks Associates analysts also note that...

WA State Payer Picks mHealth Application for Depression Care

A recent survey by Parks Associates showed that 55 percent with at least one chronic condition do not speak with their primary care provider about it more often than once every three months. Mobile...

Amazon, Google, and Roku All Have New Streaming Devices

With more of us now using streaming video services during the COVID-19 pandemic—about three-quarters of all U.S. households subscribe to at least one streaming service, according to research from Park...

They Started With $10,000. Now They're Taking on ESPN

It's no wonder that OTT is on everyone's mind. In 2016, Major League Baseball's streaming service, MLB.TV, was the fourth-most popular streaming service in the U.S., after Netflix, Hulu, and Amazon P...

‹
1
2
...
254
255
256
257
258
259
260
...
719
720
›