Protect the Connected Home: Home Security Meets Personal Privacy

by Parks Associates | Jan. 25, 2023

Parks Associates' research finds most consumers (72%) are concerned with the security of their smart home products and their network.
Download our complimentary white paper “Protect the Connected Home: Home Security Meets Personal Privacy,” in collaboration with Assurant! This white paper highlights consumers’ privacy concerns around smart home devices and the opportunities that pro monitoring security providers have to offer warranty and other add-on services.
The home security market is evolving, and new solutions are helping to expand the market, creating opportunities for both traditional and DIY security service providers. These firms are seeking new ways to attract customers, build on their service revenues, foster brand loyalty, and address personal privacy concerns as a function of home security represents a significant growth area. 
Since the pandemic, consumer and business demand for security solutions that offer peace of mind is higher than ever. Consumers want to know that their homes and families are safe from intruders and that their online identity and personal data – including video and audio captured by smart devices – are safe from prying eyes. News of hacks and unauthorized access to personal data continue to fuel consumer concerns about the vulnerability of connected devices and systems.
Parks Associates' research finds most consumers (72%) are concerned with the security of their smart home products and their network.
One of consumers’ biggest fears is that their smart security devices will be hacked, turning their protection solution into a source of vulnerability. By offering data privacy services, security providers can keep their customers’ connected devices secure and users safe – and encourage greater adoption of connected devices.
Home security firms are in a strong position to offer personal data privacy and security as an add-on service, much like broadband service providers. Home security owners have already assigned a significant level of trust to their providers to ensure the protection and monitoring of their homes, and protecting the digital aspects of home life naturally aligns with the core security value proposition.
This whitepaper investigates the expansion of peace-of-mind offerings to device protection services. As consumers’ privacy concerns are a barrier to smart device adoption, home security providers can offer device protection and data privacy services, enabling them to leverage their skills, assets, and service relationships with customers.

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