What You Need to Know
- According to Parks Associates’ findings, “55% of recent security system buyers chose self-installation compared to just one-third reporting professional [installation].”
- 40% of home security system dealers reported installing DIY security systems in 2020 (Parks Associates).
- Almost half (49%) of all home security dealers view DIY security as a new channel for revenue (Parks Associates).
The Home Security Landscape is Shifting, DIY Is on the Rise
Parks Associates, a market research and consulting firm, held its annual CONNECTIONS Summit in conjunction with CES 2021. For the “Home Security Growth: DIY and Pro Channels” session, Moderator Jennifer Kent facilitated a chat with industry professionals Mark Owen Burson (Nice North America), Min Kang (Brinks Home Security), Matt Wolf (SimpliSafe), and Brian Ewing (Notion).
Their discussion highlighted changes in the home security landscape, including the trend towards DIY security and popular use cases in the future. Here’s a closer look at some main takeaways from this discussion in a mixed Q&A style.
What Does This Mean for The Security Industry?
If we were, to sum up the answer to this question in five words, it would be “greater customer demand and use.” Kent with Parks Associates notes the dynamic swing towards DIY security within the past several years, with 55% of security system buyers choosing to self-install over professional installation. (Parks Associates)
Burson with Nice North America shares that more people took on home projects in 2020, including renovations and improvements. “A Porch study found that 3 in 4 homeowners had at least one home improvement project and 78% plan to do so in the next year,” says Burson. He believes that as homeowners purchase new devices and show their friends, they will likely want to buy them as well.
Wolf with SimpliSafe agrees, noting that there’s been a rise in customer demand and purchases of home security products. In a survey with Hippo Insurance, SimpliSafe found that 60% of people think it’s even more important to protect their homes’ value than when they first purchased it. Additionally, Wolf notes that customers are concerned with adding on cameras and devices for their homes, as well as protecting the exterior of their homes.
What's Driving the Adoption and Demand of DIY Security Systems?
Ewing with Notion says that people are getting more comfortable with DIY products “have very customized ways of thinking about security moving forward,” which means more and various ways of using a home security system. For instance, Ewing mentions how adult children may want to monitor their elderly parents through motion sensors rather than security cameras to make sure they’re taking their medicine or eating. Home security sensors can be used for cabinet doors to detect whenever it has been opened or closed.
Suffice to say; consumers may be looking to take DIY security to the next level through multi-use cases.
Exploring New Channels: Home Security, Insurance, and Energy
It’s no secret that many home security dealers today offer compatibility with smart home devices for greater convenience. But some providers are branching into new areas and partnerships. SimpliSafe has partnered with Reliant, pairing home security and energy, to provide special offers and deals for customers.
Similarly, Notion, a retailer of home sensors, partners with insurance companies to provide customers with discounts and help them avoid property damage and theft.
Ewing mentions that Notion’s products allow these companies to engage with customers and help pave the way for future technologies that can direct professional home services if needed. It will be interesting to see how these new collaborations and channels develop going forward.
What Innovations Could Be Incorporated Into Products for Consumers?
In the coming years, industry professionals recommend several innovations. Burson believes that presence-based automation is going to become popular, making our homes “smarter.”
For instance, when someone returns home, presence-sensing technologies can trigger home automation actions, such as opening a gate, closing the blinds, adjusting the home’s temperature, and more.
Min with Brinks Home Security believes that the use of biometrics and video analytics will increase. Biometrics involves functions like fingerprint scanning, facial recognition, or other means of personal identification through technology. BenjiLock by Hampton Products® currently produces biometric operated locks, allowing you to open a lock with the touch of your finger. Ewing nods toward further collaborations between the home security dealers and home services or insurance companies.
Final Takeaways: Home Security Trends from CES 2021
Overall based on our gleanings from the CONNECTIONS Summit, the home security landscape is favoring DIY solutions, providing more flexibility and affordability for consumers looking to protect their homes. But, the future of home security looks advanced with new cross-industry collaborations, artificial intelligence, biometrics, video analytics, and much more. We’ll be keeping tabs on the latest products and devices coming out in this space, so stay tuned!
Photos by CES-CTA / Kyodo News / Contributor / GettyImages