Strategy Analytics: US Self-monitored Security Market to Reach $5.3B in 2027

Trending...
Download
US Self-monitored Interactive Security Market, Source: Strategy Analytics' Smart Home Strategies, 2022
BOSTON--(BUSINESS WIRE)--Consumers' price sensitivity and a wide range of offerings from well-known security brands such as ADT and Brinks as well as Amazon's Ring, widely marketed SimpliSafe and new entrants such as Wyze are driving adoption of low-cost, self-monitored security solutions in the US according to Strategy Analytics' report "DIY Security Market Forecast - US and Western Europe - May 2022."

More on Boston Chron
Households with professionally monitored ("pro-monitored") security systems will continue to far outnumber those with self-monitored systems, but self-monitored systems will grow at 15% CAGR from 2022 to 2027. By the end of 2027 18 million households in the US will have a self-monitored security system according to Strategy Analytics' analysis. Spending on pro-monitored security is four times that of spending on self-monitored security, but pro-monitored revenues are growing less than 5% CAGR from 2022 to 2027 whereas self-monitored revenues are growing more than twice as fast (10% CAGR).

Strategy Analytics' analysis of the robust self-monitored security trend points to the fact that many consumers find DIY solutions to be adequate for their security needs. New cameras, doorbells and door locks are among the favorite device's consumers install to set up their security solutions and these devices are increasing in capabilities and decreasing in cost.

Bill Ablondi, Director of Strategy Analytics' Smart Home Strategies research and advisory service, pointed out, "Self-monitored security solutions are expanding the whole idea of what a security system is. We see the trend expanding the overall security market including the pro-monitored segment. Consumers will seek out more complete systems that include automation as well as security and that's where professionally installed solutions have an advantage. Self-monitored security solutions are changing the dynamics of the security market."

Jack Narcotta, Principal Industry Analyst in Strategy Analytics' Smart Home Strategies research and advisory service, added, "Consumers have a growing array of device options to select from when configuring a DIY security solution. Outdoor cameras with sophisticated detection capabilities are among the most popular devices along with stylish door locks offering keyless convenience. But without a doubt the video doorbell has become the centerpiece of the DIY security system."

More on Boston Chron
#SA_Intelligent Home

About Strategy Analytics
Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Our multi-discipline capabilities include industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.

For more information about Strategy Analytics
Smart Home Strategies

Contacts

Report contacts:
Bill Ablondi, +1 617 614 0744, wablondi@strategyanalytics.com
Jack Narcotta, +1 617 614 0798, jnarcotta@strategyanalytics.com

0) { // Create container for hi-res image jQuery('#bw-release-hires').append('
'); }; }); ]]>

Contacts

Report contacts:
Bill Ablondi, +1 617 614 0744, wablondi@strategyanalytics.com
Jack Narcotta, +1 617 614 0798, jnarcotta@strategyanalytics.com
Filed Under: Business
Show All News | Report Violation

0 Comments

Latest on Boston Chron