Security Sales

The total untapped market for security is roughly 75%, and it has held at roughly that same number for many years, despite the addition of interactive and smart home control features to legacy security services.

Many of the new entrants have the product lines, price points and diverse business strategies to change this market fundamentally, and Parks Associates predicts many of these efforts will be successful, due in large part to the presence of multiple optional features. ...read more

In the period of just one year, big-box retailers including Best Buy, Lowe’s, Apple, Target and Sears, dramatically increased shelf space and visibility for smart-home devices. Even Whole Foods, acquired by Amazon, now sells Echo and other smart things, right alongside fresh produce. The visibility increases impulse buys by consumers who hadn’t done their homework. According to Parks Associates, roughly 40% of consumers spent less than one day shopping for smart house products.

Smart home gift-giving is on the rise, expanding the universe of potential users that don’t necessarily know what they’ve gotten themselves into. Parks Associates estimates some 20% of smart-device owners receive their goods as a gift. For the 2017 holiday season, the researcher indicates 36% of Millennials will buy these products as gifts, potentially for unsuspecting parents not as tech-savvy as the younger generation.

From the article "10 Reasons Smart Home Devices Will B ...read more

However, familiarity has at least tripled since the introduction of smart home devices through the residential security industry — real progress. New market entrants and improved iterations of existing smart home device types continue to emerge at a quick clip.

SSI’s annual Residential Market Report, researched in conjunction with Parks Associates and now in its fifth installment, analyzes the current state of smart home device awareness, interest, penetration and associated ...read more

New research by Parks Associates reveals that more than 26 million U.S. broadband households will have professionally monitored security by 2021, and that total annual revenue for professionally monitored security in U.S. households will exceed $14 billion by 2020.

From the article "Annual Revenue for Residential Monitored Security to Exceed $14B by 2020."

Nearly 40% of broadband households in the United States with an insurance policy would switch providers in order to obtain smart home products as part of a new insurance service, new research by Parks Associates shows.

Titled “Insurance Opportunities in the Connected Home,” the report also notes that more than 80% of those likely to switch insurance providers are also likely to purchase smart home products with prevention features.

From the article "IoT Research: Consume ...read more

The Annual Residential Market Report fielded online responses between Aug. 18 and Sept. 25. This has proven to be another solid business year for security dealers, albeit not forecast by Parks Associates to be as robust as 2015 or 2014.

The latter experienced much higher than standard growth as the economy began its recovery and pent-up demand was clearly demonstrated in the market. With a net of nearly 2.8 million new security system sales (after attrition and replacement c ...read more

Thirty-eight percent of broadband households in the United States have “very strong intentions” to buy a smart home device in 2016, according to a new report by research firm Parks Associates, based here.

The report, titled “IoT: Smart Home Business Models,” finds that 51% of broadband households in the U.S. consider an IoT device that alerts them to smoke and fire as highly appealing, and 41% said a device that alerts them to a water leak is also highly appealing.

From ...read more