U.S. households feel 'safe enough' with smart home security devices

DALLAS—New research from Parks Associates finds 60 percent of U.S. broadband households feel “safe enough” with only a professionally monitored home security system while 55 percent report feeling safe enough with only a self-monitored home security system.

“While most consumers feel ‘safe enough’ only with a home security system, security-focused smart home devices delivers this same baseline feeling of security for a majority of households,” Brad Russell, research director, connected home, Parks Associates said in the announcement. “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, which still keeping costs low.”

For more insights into the industry and consumer trends in the residential security market, refer to Parks’ DIY Home Security Tracker and Quantified Consumer: Safe Enough: Consumer Attitudes toward Alternative Security Solutions.