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Market Research Report
Product code
938306

Residential Security: State of the Market

Published: | Parks Associates | 46 Pages | Delivery time: 1-2 business days

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Residential Security: State of the Market
Published: September 9, 2021
Parks Associates
Content info: 46 Pages
Delivery time: 1-2 business days
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  • Description
  • Table of Contents
Description

SYNOPSIS:

Security services continue to serve the leading use case for smart home products and services while major players seek to stave off non-traditional competitors and expand beyond the traditional monitored security customer. This annual flagship report covers all significant residential security metrics, including system adoption, purchase intentions, subscriber churn, and revenue strategy and results, along with key competitive trends and new market opportunities. It includes a five-year forecast of residential security system sales, professional monitoring subscribers, and subscription revenue.

ANALYST INSIGHT:

"Residential security services are being redefined. Consumer choice for installation, bundles of devices, and monitoring services is the focus for both professional and DIY solutions. Smart home products are becoming substitutes for traditional home security systems and creating an onboarding ramp to professional services," said Mark Vena , Senior Director, Smart Home and Strategy, Parks Associates.

Key Questions:

  • What is the current adoption of home security systems? How are DIY solutions impacting adoption?
  • What have been the specific effects of COVID-19?
  • What are the market drivers and barriers for growth? How are players competitively positioned?
  • How does expansion of options across the Pro- and Self-Install and Pro- and Self-Monitoring spectrum affect the industry? What is the biggest opportunity for the industry? What is the biggest threat?
Table of Contents

Table of Contents

Bottom Line

Trends Impacting the Residential Security Market

  • Blurring of the Lines
  • Downward Pricing Pressure
  • Impact of COVID-19
  • Technology Trends
  • Privacy and Data Concerns
  • Big Partnerships

Residential Security Competitive Landscape

  • Professional Installation
    • Vivint
    • ADT
    • Comcast
    • Brinks
  • Self-Installation
    • Abode
    • Canary
    • Cove
    • Google Nest
    • Ring
    • SimpliSafe
    • Wyze

Forecast

  • Market Drivers and Barriers
  • 5-Year Forecast
    • Assumptions/Methodology
    • Topline Forecast

Implications and Recommendations

Appendix

Citation

Attribution

List of Figures

  • Home Security System Ownership
  • Installation Method for Security System Acquired within 12 Months
  • COVID-19 Impact on Preferences and Activities
  • Average Selling Price (ASP): Smart Security Devices
  • Primary Communication Path for Security System Alerts
  • ADT Command Smart Security Panel
  • Installation Method for Home Security Systems