Parks Associates Analysts Identify Opportunities for Growth in the Home Security Market

DALLAS, TX--(Marketwired - Sep 24, 2013) - New smarthome consumer research from Parks Associates finds nearly 10% of U.S. homeowners with broadband at home, approximately 5 million households, considered purchasing a home security system over the past year but ultimately did not acquire one. Moreover, roughly one-half are still open to adoption. Just 2% of U.S. broadband households actually acquired a security system over the same time period.

"Expanding the Base: From Security to Smarthome," a project featuring results from multiple 2013 consumer surveys of U.S. broadband households, finds two-thirds of households without a security system express interest in "smarthome" systems that provide a mixture of safety, security, and home control features. This level of interest bodes well for service providers like AT&T Digital Life and Comcast that offer smarthome service packages.

"The recession dampened the market for security, but there is demand for new systems," said John Barrett, director, consumer analytics, Parks Associates. "The challenge is getting the right mix of features and pricing as well as communicating to consumers the value of a smarthome system."

Parks Associates data indicates that monthly service fees are a key sticking point for those considering adoption.

"Integrating security into a 'smarthome system' creates a new value proposition within this market and will help lure new adopters," Barrett said. "Companies looking to increase the likelihood of adoption of professional security with smarthome features must increase the value proposition for the overall package and service."

"Expanding the Base: From Security to Smarthome" analyzes the potential of growing the home security market through integrated, Internet-enabled packages, including research on current security owners and households considering security adoption. For more information, visit www.parksassociates.com or contact sales@parksassociates.com, 972-490-1113.

About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

Each year, Parks Associates hosts executive thought leadership conferences CONNECTIONS™, CONNECTIONS™ Europe, and Smart Energy Summit.

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