LONDON, Oct. 30, 2017 /PRNewswire/ -- In this report, Parks Associates forecasts professionally monitored and self- monitored security system sales in the U.S. as well as total security adoption. The report includes forecasts of annual unit sales of professionally installed versus self- installed security systems. It provides unit and revenue forecasts for each market segment as well as the total value of professional and fee- based self-monitoring security services. In addition, it forecasts smart home controller attachment to security.
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1.1 Purpose of Report
The residential professionally monitored security channel enjoyed a resurgence from 2013 to 2016. Will sales level out as pent-up demand is served? In this report, Parks Associates forecasts professionally monitored and self-monitored security system sales in the U.S. as well as total security adoption. We also forecast annual unit sales of professionally installed versus self-installed security systems.
We provide unit and revenue forecasts for each market segment, as well as the total value of professional and fee-based self-monitoring security services. In addition, we forecast smart home controller attachment to security. This report is part of a four-piece series focused on the U.S. residential security market. Paired with Home Security: Consumer Insights, Home Security: Channel Insights, and Competition in Residential Security, this series provides a comprehensive view of the residential security industry.
The purpose of this report is to outline the assumptions, drivers, and inhibitors of the residential security market, as well as provide a five-year forecast for multiple market segments. Companies seeking to enter or better position themselves within the security industry will benefit from understanding the overall volume of security systems in the U.S, the market size, and the addressable opportunity. In addition, the information in this report will help inform critical investment decisions which include product development, pricing strategies, market entry and exit, and potential mergers and acquisitions.
1.2 Scope of Report
This report focuses on the residential security market and includes the following content:
• Market sizing and forecasts for professional monitoring and self-monitoring segments
• Overall assumptions that help to address the forecast methodology
• Revenue forecast for total equipment and monitoring revenues
The key questions addressed and answered in this report include:
• What is the growth trajectory of overall adoption of home security?
• Which market segments are experiencing growth or decline?
• What is the growth rate of add-on services or products attached to security systems?
• How will security adoption based on installation method change in the forecast period?
• What are the revenue opportunities in residential security?
This report focuses on the U.S. marketplace. However, data for this report is gathered from Home Security NUMBERS which provides a global perspective.
1.3 Research Approach/Sources
Home Security: Market Sizing and Forecasts draws data from Home Security NUMBERS.
Supplementary information for Home Security NUMBERS is derived from the following sources:
• Interviews with and research on companies including smart home service providers, security providers, and monitoring companies
• Company financial reports and related secondary research
• Parks Associates consumer surveys and forecasts. The reader will notice that some device and system statistics are reported in a range. This reflects margin of error applied from our surveys.
For example, a device may be reported as having a 12%-14% adoption rate. Margin is important to consider for emerging devices in early adopter territory.
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