New research from Parks Associates finds 60 percent of U.S. broadband households feel “safe enough” with a professionally monitored home security system, while 55 percent report feeling “safe enough” with only a self-monitored home security system.
“While more consumers feel ‘safe enough’ only with a home security system, security-focused smart home devices deliver this same baseline feeling of security for a majority of households,” said Brad Russell, research director, Connected Home, Parks Associates. “A significant portion of households associate these products with a sense of security, which increases as more devices are added to the bundle. This creates a serious challenge to the traditional home security industry as cost is a major barrier that weighs down the overall appeal of their solutions.”
Consumers identify security systems as providing the strongest sense of “safe enough” security, but these systems are the least appealing when price is considered. Smart home security devices are a key alternative for cost-conscious consumers when purchasing equipment to secure their home, with a bundle including an all-in-one camera and an outdoor light fixture with a camera as the most appealing.
“As more players from the CE industry enter the DIY security space, they bring an expertise in product design that improves ease-of-use and attractiveness in smart home products,” Russell said. “This emphasis on user experience puts pressure on legacy security manufacturers and service providers to deliver solutions and systems that meet or exceed this higher bar, while still keeping costs low.”