COVID-19: Impact on Residential Security and Smart Home - July

This study details changes to intentions to purchase or upgrade security systems due to the COVID-19 pandemic and related factors, including their impact on professional monitoring and installation preferences. The research also provides a mid-2020 update on smart home adoption, purchase intentions, and app and control platform preferences and explores how COVID-19 has influenced consumer interest in smart home solutions.

Table of Contents

Research Summary

Survey Methodology

Industry Insight

• Known COVID-19 Patients by Security System Ownership Segments
• Technology Adoption for Security System Owners
• Security System Owners & Intenders are Target Markets for Smart Home & Technology in COVID Time
• Anticipated Increase in Household Spending by Security System Ownership Segments
• Installation Method for Security System Acquired with 12 Months
• Likelihood of Starting A Home Improvement Project in Next 6 months
• Intentions to Purchase Smart Home Device in Next 12 Months

Security System Basics in US

• Security System Ownership Segments
• Home Security System Ownership in US Broadband Households
• Home Security System Monitoring
• Interactive Systems Among Home Security Households
• Age of Home Security System
• Length of Continuous Subscription to Professional Monitoring Services
• New Professional Monitoring Services Customers: Self Installation vs. Professional Installation

Demographics, Anticipated Changes to Systems by Owners and the Influence of COVID-19

• Demographic Breakdown of Security System Ownership Segments
• Known COVID-19 Patients by Security System Ownership Segments
• Likelihood of Making Change to Home
• Affects of COVID-19 Crisis on Home Improvements by Security System Ownership Segments
• Anticipated Increase in Household Spending by Security System Ownership Segments
• Consumer Attitudes Regarding COVID-19 Crisis by Security System Ownership Segments
• Expected Spending Changes in July/August by Security System Ownership Segments
• Professionally Monitored Households Likelihood of Making Changes to Security Systems
• Changes to Pro Monitored Security Systems Influenced by COVID-19 Pandemic
• Security Solutions in Homes by High Likelihood of Making Changes to Security System
• Incentives That May Reduce Professional Monitoring Churn Rate
• Payment Relief Offered by Professional Monitoring Service due to COVID-19
• Respondents Taking Advantage of Payment Relief Plans by Professional Monitoring Service Providers
• Payment Relief Offered by Professional Monitoring Service due to COVID-19 by High Likelihood of Making Changes to Security System

Security System Intention & Segments

• Security System Intenders
• High Likelihood of Making Security-Related Purchases
• High Likelihood of Switching or Subscribing to Professional Monitoring
• Demographic Breakdown of Security System Intenders
• Housing Profile of Security System Intenders
• Security System Purchase Preference
• Current security system owners compared to current security system intenders

Security & COVID-19 Concerns

• Consumer Attitudes
• Satisfaction with Handling of COVID-19 Crisis by Service Providers
• High Satisfaction with Security Provider Handling of COVID-19 by Top 10 Security Providers
• Satisfaction with Service Provider's COVID-19 Precautions
• Expected Lasting Changes Due to COVID-19
• COVID-19 Impact on Interest in Smart Home Solutions
• COVID-19 Impact on Interest in Smart Home Solutions, Cont'd.
• High Likelihood of Making Changes to Security System by Consumer Attitudes
• % of Households with Strong Concerns during COVID-19 by Security Segments
• COVID-19 Conditions Affecting Consumers Spending by Security System Ownership Segments
• COVID-19 Impact on Home Improvement Projects

Smart Home Basics

• Smart Home Device Ownership
• Overall Smart Home Device Ownership by Security System Ownership Segments
• Smart Lighting/Power Devices Ownership
• Smart Energy & Misc. Device Ownership
• Smart Safety & Security Device Ownership
• Smart Access Device Ownership by Security System Ownership
• Smart Home Device Purchase Intention by Expected Home Changes
• Smart Home Device Purchase Intentions
• Overall Smart Home Device Purchase Intention by Security System Ownership Segments
• Smart Access Device Purchase Intention by Security System Ownership

Appendix

• Defining Heads of Broadband Households
• Reading Parks Associates Charts