Parks Associates’ most recent update of its Residential Security Tracker assesses the residential security market, offering insights on security players’ expansion into the MDU market and the latest trends and industry news.
“Together, these smart home products add to the market for security solutions, as millions of households find a camera solution is ‘safe enough’ for their needs,” said Jennifer Kent, vice president, research, Parks Associates. “The current market for residential security solutions is a mix of devices, systems, installation methods, and attached services that offer consumers more choice than ever before.”
In the firm’s July 2022 survey, Parks Associates expanded its definition of home security services to better capture fee-based self-monitoring and video storage services.
“Parks Associates research captures substantially more fee-based self-monitored households than prior survey findings and is in line with our current view of the market,” Kent said. “Installation trends continue to hold where self-installed systems and pro-installed systems account for a similar portion of the market.”
From the article, "Parks Associates: Nearly 40% of U.S. Internet Households Report Owning a ‘Security Solution’ by JEREMY GLOWACKI.
