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Market Research Report
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955572

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

Published: | Parks Associates | 72 Slides | Delivery time: 1-2 business days

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COVID-19: Impact on Residential Security and Smart Home - July
Published: October 20, 2020
Parks Associates
Content info: 72 Slides
Delivery time: 1-2 business days
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Description

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

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