Residential Security Tracker highlights current residential security market. #pressrelease

October 27, 2022

1 Min Read

DALLAS – Parks Associates' most recent update of its Residential Security Tracker assesses the residential security market, offering insights on security players' expansion into the MDU market and the latest trends and industry news. Consumer research featured in the Residential Security Tracker reveals that in Q2 2022, nearly 40% of US internet households reported owning some security solution, such as a home security system, networked cameras, or a video doorbell. Seven percent of US internet households, approximately seven million households, own a network camera or video doorbell but no security system.

In the firm's July 2022 survey, Parks Associates expanded its definition of home security services to better capture fee-based self-monitoring and video storage services. Thirty-one percent of internet households reported owning a security system, and 18% of US internet households reported subscribing to a professional monitoring service.

Security solutions have enjoyed high demand, even under the economic uncertainty of the pandemic, but it's unclear if growth will continue with higher pricing and tighter consumer wallets. After a spike in DIY installation during COVID-19 shutdowns, professional installation rebounded to its current rate. However, price hikes for security monitoring may impact adoption rates throughout the rest of 2022 or shift market share to less costly competitors.

Read the full press release here.

Parks Associates

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