The uncertainty caused by COVID-19 has heightened consumer anxiety about the safety and security of their families and homes. These circumstances have expanded the volume and type of consumers searching for safety-related home solutions.
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.
From the article "Research Finds Home Security Customers Value Choice, Prefer Standalone Products" by Jennifer Kent and Tam Williams.
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"...An updated view of IoT, at least from a percentage standpoint, with the source of each at the end: 43% -- Percentage of U.S. households with broadband that plan to purchase a smart home device...
