Dealers are branching out into new areas to bolster revenues and to find applications that require or value professional installation and monitoring.
The 11th annual release of this survey investigates how dealers see the market today and the strategies that show opportunity for growth. It assesses the most important business drivers for dealers’ residential business and the challenges that dealers face today. It quantifies shifting demand for smart home devices during the initial sale and as an aftermarket upgrade, and it highlights dealer perspectives on how artificial intelligence (AI) and the Matter standard will impact their businesses.
More Details on this Research:
Only 24% of Security Dealers are Familiar with Matter
Security Dealer Perspectives study finds 30% of dealers sold DIY systems in 2023
About the 2023 Surveyed Security Dealers
Top Five Business Regions
Average Residential Sales vs. Non-Residential Sales as a Percentage of the Dealers’ Total Sales Units
Key Findings and Implications
Revenue Expectations – % Change Over Prior Year
Commercial Sales Growth, YoY
Interest in Partnership with Vendors for New Service Opportunities
Dealer-Reported Methods of Selling Security System
Familiarity with Matter Initiative
Top Three Business Impacts Dealers Expect from Matter
Impact of AI on Business
2023 Industry Benchmarks and Trends
Annual Revenues, YoY
2022 Annual Revenues
Expected Changes in Revenues: 2023 vs. 2022
Changes in Residential Revenues
Dealer-Reported Average Installations Per Month
Consumer-Reported Home Security System Ownership, YoY
Type of Residential Security System Sold
Company’s Strategic Positioning
Business Drivers and Inhibitors
Business Driver for Security Dealers
Business Inhibitors for Security Dealers
Approaches Used to Overcome Staffing Challenges
Dealer-Reported Methods of Selling Security System
Monitoring, System Pricing, and Interactive Services
Contract Term of Professional Monitoring Services, YoY
Percentage of Residential Security System Sales
Percentage of Firms Selling Specified Service
Dealer Reported ARPU for Professional Monitoring
Average Monthly Fee for Home Security Service, YoY reported by Consumers
Average Monthly Fees for Various Professional Monitoring Services
High Intention of Offering Add-On Services to Professional Monitoring
Likelihood of Offering Add-On Services to Professional Monitoring in the Next 12 Months
Interest in Partnership with Vendors for New Service Opportunities
Inhibitors for New Value-added Service
Subcontract Work to Others
Security Dealers & Smart Home Devices
Security System Installations Including Smart Home Devices
Installation of Smart Home Devices
Security System Integration with Customer Owned Smart Home Devices, YoY
Average Upfront Price by Type of Security Systems
Difficulty of Integrating Smart Home Devices with Security System
Expected Impact of Matter and AI
Familiarity with Matter Initiative
Home Automation Standards, X10 to Matter
Expectations on Matter Standard to Impact Business
Impact of AI on Business
AI as Selling Point for Smart Home Device Solution
Infrastructure & Ecosystem
Method of Providing Professional Monitoring Services
Companies Providing Professional Monitoring System
Top Ranked Considerations in Selecting a Central Monitoring Station
Primary Communication Path for Security Systems
Installation % for Various Control Panel Brands, YoY
High Importance of Control Panel Features
DIY/Self-Installed Security Systems
% of Dealers Selling Self-Install Systems
Method of Installation: Residential Security Sales by DIY System Dealers
Installation Method for All Home Security Systems
Installation Method for Home Security Systems Acquired within the Past 12 Months
Reasons for Selling DIY Security Systems - % Ranking Reason Most Important
Average % Professional Monitoring Service Adding After Self-Install System Sale
Impact of DIY Systems on Residential Security Dealers
Dealers Reporting Losing Sales to DIY Security Systems & Devices
Dealer Business Strategies: Commercial Growth & Succession
Business Operating Length
Business Owner
Commercial Sales Growth, YoY
Reasons to Increase Commercial Sales
Succession Plan of Company
Company Succession Statement
Appendix
