AI and machine learning could goose home security and monitoring sector--report

Do-it-yourself security systems will cause some shifts in the residential security market as more than two million broadband homes will have a self-monitored system by year's end. According to research by Parks Associates, 23% of the self-monitored systems are fee-based with an average cost this year of $9 per month while 22% also include home control. By 2024, the average monthly fees will slide down to $8.50 while 34% will have home control add-on services. Home security systems seemed cutting edge when they were first introduced, but now the market is flooded with options that are available from the likes of ADT, AT&T, Ring, Comcast, and even chain hardware stores. In order to better cash-in on home security services, Parks said the industry needs to find new drivers for the homes that currently don't have such services.