Parks Associates: Smart home solutions helped to drive double-digit growth in home security over past two years
New research report of U.S. residential security system market finds over 21 million U.S. broadband households have professionally monitored security
Dallas, Texas, November 23, 2015 - A new Parks Associates report finds smart home offerings have helped revitalize the residential security industry, as the number of households with monitored security rose over 15% in the past two calendar years. The New Face of Home Security - 2015 Edition reports approximately 21 million U.S. homes have professionally monitored security, with another 1.5 million with monitoring in a second home.
"By the end of 2015, nearly six million professionally monitored homes will also have smart home control as part of their security system," said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates. "Smart home is firmly entrenched as part the U.S. security industry, thanks to both push and pull factors. Companies such as Vivint, AT&T, and ADT have been aggressive in offering smart home features with their systems, while security owners are open to new technologies. Security households are 150% more likely than non-security households to state that they keep up with technological innovations and like to own the latest devices."
Parks Associates research finds that 35% of U.S. broadband households with security own at least one smart home device, compared to less than 10% of households without a security system. At the same time, the majority of security households rely on professional installation channels for the setup and maintenance of their system—only 14% of current security systems were self-installed.
"The convergence within smart home and security creates great opportunities for multiple channels," Kerber said. "Our recent Security Dealer Survey finds that 25% of U.S. security dealers expect their revenues to grow more than 15% in 2015."
Parks Associates will examine adoption of home security systems and convergence with the smart home at the tenth-annual CONNECTIONS™ Summit: IoT, Entertainment, and the Connected Consumer at CES® 2016, January 6-7, in Las Vegas, NV. The event will feature two days of panel discussions on the smart home, Internet of Things (IoT), and connected entertainment, with trends and implications for connected consumers and opportunities for companies to build new revenues and innovative business models.
The New Face of Home Security - 2015 Edition analyzes the issues, opportunities, and challenges facing the many companies active in the U.S. marketplace for security systems and their smart home adjacencies. The report provides a working knowledge of today's U.S. residential security system market, its players, and the consumers who have adopted security, including survey data from consumers and security dealers and profiles of key players in these ecosystems.
The New Face of Home Security - 2015 Edition is available for purchase at www.parksassociates.com. To schedule an interview with an analyst or to request specific digital health data, contact Holly Sprague at email@example.com, 720.987.6614.
About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
The company's expertise includes digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.
Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit: Engaging Consumers, and Smart Energy Summit: Engaging the Consumer. http://www.parksassociates.com