Parks Associateshas found that households are experimenting with different offers from security providers and standalone devices, ultimately expanding adoption.
At the end of 2020, Parks Associates’ research found that 27% of broadband households strongly agreed with the statement, “I am far more concerned about the physical security of my home than I was five years ago” — and that number rises to 43% among households with children.
While residential security system adoption held steady at 26-27% from 2014-2017, a 10% increase moved the needle to 36% adoption as of Q2 2021.
Parks Associatesreveals that smart home and security device adoption is on the rise in broadband households, and consumers are embracing standalone devices as well as DIY home security solutions.
Parks Associateswill present consumer research impacting the residential security market and address key trends affecting the smart home industry during its flagship event, CONNECTIONS 2022: The Premier Connected Home Conference, in May. In its 26th year, CONNECTIONS is the only connected home event to focus on the use cases and emerging business models that successfully engage consumers and grow revenues in the converging smart home, connected entertainment, and mobile ecosystems.
This research is from Parks Associates recent research on behalf of Comcast Xfinity, Home Security: Choice is the Ultimate Value Proposition.
From the article "Examining the Increasing Value of Choice for Home Security Consumers" by Jennifer Kent and Tam Williams.
Safety and security remain the leading value propositions for the smart home. Consumers consistently rank security and safety as top value propositions, followed by energy management, and Parks Associ...
A new whitepaper by released by Parks Associates reveals that 71% of U.S. broadband households own a connected entertainment device. Titled “Changing Dynamics of the Smart Home: Opportunities for S...
Smart speaker sales are soaring. There’s no denying that. But new research from Parks Associates helps put that data into context. The firm projects that total sales of smart speakers with digital voi...
Among the driving forces behind increasing DIY consumer adoption is cost. Owning a security system can seem a luxury for consumers due to the associated monthly fees that may come with purchasing a sy...
