Research Finds Home Security Customers Value Choice, Prefer Standalone Products – CEPro

February 4, 2022 by No Comments

The uncertainty caused by COVID-19 has heightened consumer anxiety about the safety and security of their families and homes. These circumstances have expanded the volume and type of consumers searching for safety-related home solutions.

At the end of 2020, Parks Associates’ research found that 27% of broadband households strongly agreed with the statement, “I am far more concerned about the physical security of my home than I was five years ago” — and that number rises to 43% among households with children.

While residential security system adoption held steady at 26-27% from 2014-2017, a 10% increase moved the needle to 36% adoption as of Q2 2021.

Parks Associates reveals that smart home and security device adoption is on the rise in broadband households, and consumers are embracing standalone devices as well as DIY home security solutions.

As of 2021, smart home security devices like networked cameras and smart doorbells have grown to over 10% adoption each in all broadband households. DIY installed security systems such as Ring Alarm, SimpliSafe, Abode, and DIY offerings from national brands like Comcast and ADT have expanded consumer familiarity with the category.

Lower prices, no contract offerings, and these new installations and services options provide consumers with the ultimate choice in home security, automation and monitoring services. Consumers can determine the optimal combination of installation, monitoring, and automation that provides a sufficient level of security and convenience for their household — a package that is “safe enough” for their needs.

At the same time, broadband service providers have expanded their value-added service offerings to include additional devices, support services, and applications for consumers, including home automation and home security solutions.

Last year, the retail channel dominated as the top channel for standalone smart home devices, with 25% of broadband households reporting their purchase of smart home devices at an online or national retailer. Security dealers are an important secondary channel for smart safety and security devices, while HVAC contractors are an important channel for smart thermostats.

In addition, consumers are beginning to show interest in whole-home security and add-on network services. The role of managed services for consumers will continue to grow along with additional network protections, including cybersecurity, networking monitoring services and other features like parental controls.

Finding Value Through Choice

Consumers’ views on home security installation and monitoring have shifted as more options are provided. Households are experimenting with different offers from security providers and standalone devices, ultimately expanding adoption. Understanding the choices consumers make for home security solutions based on their stage in life helps with better understanding.

Households with children have always been a dominant group for home security systems. Brands have an opportunity to drive recognition and value with the “New Household” and “Young & Established” groups, many of whom will become “Parents” looking to adopt a security system and other relevant services like parental controls.

Though the Young & Established group trails these other segments in security adoption today, they show higher security system purchase intentions than parents, suggesting some latent demand that is not yet being captured in sales.

Self-installation has become a new option for consumers that is popular and widely adopted. Fifty-six percent of all new security system installations in the past year are self-installed. Parents and New Households are more likely to self-install their security systems while “Seniors” and “Empty Nesters” use professional installers. In order to meet the needs of consumers across all life stages, security providers are wise to offer both installation …….

Source: https://www.cepro.com/news/research-home-security-customers-value-choice-prefer-standalone-products/

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