Tuesday, December 21, 2021

27% of broadband households report more concern about physical security of home than five years ago

New whitepaper in partnership with Xfinity Home examines expanding role of broadband service providers as consumer demand grows for home automation and security services 

A new whitepaper from Parks Associates, produced in partnership with Xfinity Home, reveals 27% of US broadband households report far more concern now about the physical security of home than five years ago. That number rises to 43% among households with children. The whitepaper Home Security: Choice is the Ultimate Value Proposition explores the market trends specific to the role of the broadband service provider in providing consumers the ultimate value through choice of installation and services for home automation and residential security.

“The uncertainty caused by the pandemic has heightened consumer anxiety about the safety and security of their families and homes and expanded the volume and type of consumers searching for safety-related home solutions,” said Elizabeth Parks, President, Parks Associates. “Smart home and security device adoption is also rising in broadband households, and consumers are embracing standalone devices and DIY home security solutions. Smart home security devices like networked cameras and smart doorbells have grown to over 10% adoption across all broadband households as of 2021.”

DIY-installed security systems, like Ring Alarm, SimpliSafe and Abode, and DIY offerings from national brands such as Comcast and ADT, have expanded consumer familiarity with the category. Comcast recently announced the Xfinity Video Doorbell, to integrate with its Xfinity Home systems and enable anytime, anywhere monitoring of the home’s front door. Lower prices, no contract offerings, and these new installation and services options provide consumers with the ultimate choice in home security, automation and monitoring services. However, there are signs that, as the US comes out of the pandemic, adoption of smart home devices will ramp up, with more than 40% of US broadband households planning to buy at least one device in the next six months.

“A growing number of consumers are seeking affordable, easy-to-install solutions to protect their homes,” said Raman Sidhu, VP Product, Xfinity Home and Connectivity, Comcast. “It is critical for the home automation and security industry to simplify the process, delivering customers flexible DIY offerings, while also providing the requisite support for those customers that want a professional install experience. The research and insights from Parks Associates further highlight the potential value the broadband industry can deliver in helping customers protect the people and places they care about the most.”

New installation and monitoring offerings have expanded options for consumers. Smart home devices and DIY security systems have disrupted the notion that professional monitoring is "needed" to provide adequate safety and security.  While home security systems make consumers feel most secure, almost half of all broadband households surveyed find smart home security devices make them feel “safe enough.”

“Security providers across the spectrum, and ISPs in particular, have a big opportunity to attract customers and drive revenues by offering the consumer choice in installation, monitoring, support, system configuration, smart device attachment, contract length, and the ability to append additional network-related services to meet their personalized household needs,” Parks said.

To request data or an interview, please contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.

About Parks Associates: Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

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