State of Home Security Market

Home security - a market that has been mature and relatively stable for decades - is in the midst of dramatic changes. New entrants from start-ups, investments from tech giants, and shifting consumer installation and monitoring preferences are forcing innovation in security offerings and business models. Traditional pro-installed, pro-monitored security providers have succeeded in converting legacy customers to interactive services, driving RMR upward by adding smart home and video services and generating incremental revenue through add-on device sales. Self-installed security solutions offer the potential to significantly lower the cost of security, helping to attract a new type of buyer to the market. They are also tailor-made for the COVID-19 era with its challenges to professional installation. This session assesses the state of the residential security market, critical trends impacting industry stakeholders, and the top opportunities for revenues growth.