DIY's impact on security significant

 - 
11/01/2017

With the recent announcements from Nest, Ring, and Samsung/ADT, as well as Honeywell’s announced plans to offer a DIY solution, many in the industry are speculating on the impact DIY security systems could have on the security industry.

New research from Parks Associations shows aggressive innovations in smart DIY solutions will reinvigorate the home security market. Parks found that new and more economical DIY systems from key players, including Nest, Ring, Samsung, and ADT, are part of a key step in expanding the security market. The international research firm also notes that new smart DIY solutions will reinvigorate adoption of home security, particularly among younger consumers.

“Consumers value security and safety use cases, but the security market has struggled to move beyond the traditional 20% penetration level in the U.S.,” Brad Russell, research director, Connected Home, Parks Associates, said in the announcement. “Aggressive moves by companies such as Ring, which launched its inexpensive Ring Protect DIY home security system in October, will help attract new and younger consumers into the security market. Ring’s pricing strategy also puts downward pressure on other players to lower prices.”

Parks Associates reveals that 37 percent of smart home device owners report safety is the main reason they purchased a smart home device and nearly 30 percent bought a smart home device primarily to monitor their home while away. The firm notes that DIY innovations with on-demand, no-contract monitoring options could help expand the market for device makers and for monitoring providers who seek inroads to young consumers.

“Samsung and ADT have joined forces for the ADT Home Security Starter Kit, which expands the self-installable DIY segment,” Russell said. “Meanwhile, hub-based security systems are an intentional strategy to stake out a controller position in the home for a variety of future device and service offerings.”

This latest Parks’ research comes on the heels of findings from London-based research firm IHS Markit, which estimated that in 2016 the Americas was the largest market for DIY security alarm sales, expected to grow at a 20 percent CAGR over the next five years.

Security Systems News is also looking at the impact of DIY on security in its latest News Poll.
 

Topic: