DIY, smart home, and interactive services focus of 8th annual Security Dealer Study, with research featured at CONNECTIONS™ Summit at CES sessions
New security dealer research from Parks Associates shows 85% of security dealers report they provide extra services beyond professional monitoring, including video verification, PERS, cybersecurity, and independent living services. The international research firm’s annual study Home Security Dealers: View from the Front Line, now in its eighth year,provides trending data and current insights based on a survey of US dealers studying their view of the security market, competitive pressures, industry conditions, and new trends, including the addition of smart home and interactive technologies. The study reports only 15% of dealers provide no extra services beyond professional monitoring.
“Going forward, greater emphasis will be placed on PERS and independent living services,” said Elizabeth Parks, President, Parks Associates. “The devastating impact of COVID-19 in senior living facilities ensures that more seniors will want to stay in their homes or apartments and their families want to help that happen.”
In Parks Associates’ Q2 consumer survey of 10,000 US broadband households, 24% of consumers report having completed some home improvement project during the pandemic, many of them choosing to do-it-themselves.
“This DIY trend is driving revenue growth for home improvement stores like Ace, Lowe’s, and Home Depot,” Parks said. “It also drives an increasing share of consumers choosing DIY security systems. This year’s consumer surveys show a big jump in the percentage of home security system purchases that are DIY with professional monitoring. Our dealer survey finds that this ecosystem is responding to this market shift, with 43% of traditional security dealers now offering DIY systems in addition to pro-installed.”
Additional security dealer research findings:
- 25% of dealers report providing fee deferments or relief to customers during COVID-19.
- Professionally installed systems have declined by nearly 25% since 2017.
- The sales of DIY systems have increased by nearly 60% since 2017.
Parks Associates will present this research at the upcoming CONNECTIONS™ Summit: Smart Home Growth Strategies, a CES Conference Partner taking place January 14. CONNECTIONS™ Summit at CES is an annual research and industry event hosted by international research firm Parks Associates at CES. In 2021, the executive event features virtual panel discussions on the smart home, Internet of Things (IoT), connected health, and home security and automation, with trends and implications for connected consumers and opportunities for companies to build new revenues and develop innovative business models. Early sponsors include Alarm.com, AmTrust Financial Services, and AirTies.
To schedule an analyst interview or to request specific research data, please contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.
About Parks Associates
Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.
The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.
Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com
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