Parks Associates’ flagship survey of 8,000 US internet households quantifies security system owners’ purchase journey and assesses the different purchase and ownership experiences among pro-installed and DIY system owners. The most common reason for cancelling professional monitoring is “fees are too high.” However, these households represent only 25% of all who have recently cancelled monitoring. An increased sense of neighborhood safety and a realisation that the household doesn’t use their system enough are also strong triggers to cancellation and difficult to overcome.

"Although discounts or promotions can address cost concerns, the perception that professional monitoring offers no additional benefits requires a response that is both logical and credible," said Elizabeth Parks, President, Parks Associates. “Overcoming this perception is a challenge that providers of professional monitoring services must tackle.”

Demand for Security Solutions: Devices, Systems, and Services explores opportunities for security providers to transform their business by incorporating smart home devices, which will enable them to offer interactive, personalised, and efficient home management solutions. The entry of large tech companies into this space raises expectations among consumers that devices will communicate not only with each other but also with emergency response services. Market expansion also opens opportunities for customisation, with a tailored security approach that can adjust to the unique needs of each household.

"The additional services attached to a system significantly enhance its value by contributing to lifestyle enhancements and increasing customer retention,” Parks said. “These ancillary services improve user experience and create 'stickiness,' making the system an indispensable part of daily routines and transforming security companies into lifestyle service providers. This integration fosters loyalty and ensures sustained user engagement, as highlighted in our research findings."