Approximately 60% of consumers believe that self-monitoring home security systems will keep them as safe as monitoring by a security professional, according to a study published by Parks Associates.
“Consumers see self-monitoring as a way to know what's going on in their home. For many people, it can provide a sense of security that is safe enough for certain households.” Elizabeth Parks, President and CEO of Parks, told TechNewsWorld.
The study, based on a survey of 8,000 internet households in the US, also found that cost is the main reason for discontinuing professional monitoring systems, with 25% of consumers discontinuing their monitoring services. The reason given is that the price is too high.
Also cited as reasons for reducing professional monitoring are an increased sense of neighborhood safety and the perception that households are not making full use of the system.
Although many consumers feel that self-monitoring systems keep them safe, professional monitoring services remain popular.
“During the pandemic, security dealers have not been able to enter people's homes,” Parks explained. “People didn't want to install them in their homes either. That's when remote monitoring started to become popular and it started to become easier for installers and consumers to install systems.”
“Professional installation has returned to pre-pandemic levels. However, in the past 12 months, 42% of consumers said their security system was installed by a professional and 45% installed the system themselves. “I answered yes,” she continued.
Graph courtesy of Parks Associates
professional recovers
Mark N. Vena, president and principal analyst at SmartTech Research in San Jose, Calif., pointed to several reasons for the rebound in professional services after the pandemic.
“Initially, the pandemic likely spurred a surge in DIY installations due to lockdowns and increased time spent at home,” he told TechNewsWorld. “However, as life returns to normal, consumers are likely to prioritize convenience and reliability, preferring specialized equipment with comprehensive coverage and expert assistance.”
Vena added that advances in technology and the affordability of professional services could attract homeowners seeking integrated solutions.
Concerns about installation complexity and reliability issues in DIY setups could also contribute to this change, he argued.
Security companies also changed their approach to the market after the pandemic, said Adam Wright, senior research analyst for smart homes at global market research firm IDC.
“Professional installers are significantly diversifying the services they offer while expanding their marketing and consumer reach,” he told TechNewsWorld. “Most companies now have DIY a la carte solutions that can compete well with the traditional DIY side of the market.”
You get what you pay for
For some consumers who can afford it, security monitoring services can provide benefits not available with DIY systems. “Self-monitoring is an inexpensive option, but it falls short in many ways, including the inability to receive or view alerts and the inability to seek help on your own,” Wright said.
Anna Redmond, founder of Braav, a private security solutions provider in Santa Monica, Calif., added, “In most cases, professional monitoring is best for all metrics except price.”
“The exception is if the homeowner is in a unique situation and is looking for specific things, such as tracking a nanny to care for their child,” she told TechNewsWorld.
“Professional monitoring provides credibility, accountability and, from qualified companies, a process based on best practices to identify and report issues,” she added.
While self-monitoring offers flexibility and cost savings, and provides users with direct control and real-time alerts, it can lack expertise and potentially lead to missed threats or false alarms, Vena said. I observed.
“Professional monitoring ensures that trained personnel continuously monitor emergencies, providing rapid response and peace of mind,” he said. “However, it typically comes at a higher cost and can have longer response times due to the presence of intermediaries.”
gain consumer acceptance
Vena noted that security system providers can reduce resistance to their products by emphasizing the value of expertise, reliability, and comprehensive coverage.
He added that concerns can be addressed not only by integration with smart home appliances, but also by offering flexible rate plans, personalized solutions and excellent customer support.
“By demonstrating seamless compatibility and enhancing the overall home automation experience, professional providers can attract clients looking for a holistic approach to home security and automation,” he said.
Mr. Redmond agreed that professional installers should emphasize the value they can provide, but should combine that message with real-life examples of customers they have helped.
“Home security is an emotional purchase, and people need to be able to imagine how home security will positively impact their lives and keep them safer,” she says. “Integration with smart appliances can be a selling point, but at the end of the day, people buy because of their emotional needs.”
Security providers can also gain consumer acceptance by offering popular devices.
“Selling bundles of easy-to-use devices such as doorbells and network cameras should be a priority in every dealer's portfolio,” Parks said. “This approach simplifies the purchasing process for consumers and increases the appeal of these products by appealing to their combined security benefits. Consumers understand the value proposition of these devices. .”
But IDC's Wright believes the challenge for security providers is simple. “I think it all comes down to pricing,” he argued. “We need to compete more on price to increase our value proposition.”
competitive dynamics
Parks' research also addresses competitive dynamics in the home security market. “ADT is a strong player in professionally monitored security,” Parks said. “They sold their commercial business and refocused on the residential and small business markets.”
“They are increasingly competing with single devices and DIY systems,” she continued. “Network cameras and doorbells are becoming direct competitors to traditional security players.”
“Traditional companies have robust service offerings and are moving their offerings from home security providers to lifestyle home service providers,” she added. “It's about comfort, control, convenience, and knowing what's going on in your environment beyond the safety of your doorstep.”
Wright explained that two major segments have defined the smart home market since its inception: DIY solutions and fully managed solutions.
DIY solutions are purchased by end-user consumers who install, configure, and manage these solutions themselves. Fully managed solutions are professionally installed by a service provider and tend to be tied to other services such as broadband or home security.
“While these segments have been competing along largely separate lines of differentiation for some time, the competitive landscape has changed over the past 12 to 24 months, with the line between the two segments rapidly blurring. “It's happening,” he said. “DIY solutions are now expanding their professional monitoring services, and managed service vendors are expanding their DIY services accordingly.”