According to the newly released Parks Associates Residential Security Tracker, nearly 40% of internet households own some type of security solution, such as a home security system, networked cameras or a video doorbell.
This includes 7% of U.S. internet households, approximately seven million households, that own a network camera or video doorbell but no security system and 31% that own a security system.
Eighteen percent of US internet households reported subscribing to a professional monitoring service.
The economic uncertainty of the pandemic made security solutions more popular, but it’s unclear if growth will continue with higher pricing and tighter consumer wallets, according to the research firm. Following a spike in DIY installation during COVID-19 shutdowns, professional installation rebounded to its current rate. But price hikes for security monitoring may impact adoption rates throughout the rest of 2022 or shift market share to less costly competitors.
“Together, these smart home products add to the market for security solutions, as millions of households find a camera solution is ‘safe enough’ for their needs,” said Jennifer Kent, Parks Associates vice president of research, in a prepared statement.
“The current market for residential security solutions is a mix of devices, systems, installation methods, and attached services that offer consumers more choice than ever before.”