Annual Security Dealer Study addresses wide variety of trends relevant to security dealers

New security dealer research from Parks Associates shows over 70% of U.S. security dealers offer services beyond traditional monitoring as these firms are increasingly seeking out ways to strengthen service bundles and differentiate in an increasingly competitive market. Parks Associates’ annual Security Dealer Survey found 42% of security dealers report offering video verification services and 21% offer aging-in-place/independent living solutions.

Parks Associates'Security Dealer Survey analyzes key trends, including top challenges, intended product offerings, and factors related to interactive services. It quantifies the dealers’ view of security market performance, with data compared across multiple years, and analyzes competitive pressures, industry conditions, and the addition of smart home and interactive technologies.

“A segment of consumers (40% of pro-monitored subscribers) are willing and likely to switch security providers for as little as a 10% savings in monthly fees,” said Dina Abdelrazik, Senior Analyst, Parks Associates. “This finding indicates that once a security system is installed, monitoring services are providing little differentiation between companies.”

The project asked dealers about other service offered, including home network and cybersecurity, PERS, aging-in-place/independent living, and vehicle alarm monitoring. Video verification leads in services offered, followed by home network/cybersecurity and PERS.

“Differentiation of pro-monitoring is critical to retaining subscribers in the face of downward pricing pressure,” Abdelrazik said. “Dealers must consider how to strengthen their bundles in competitive environments. Differentiation strategies include offering value-added services such as cybersecurity, video verification, and aging-in-place solutions that allow expansion into adjacent markets.”

Parks Associates’ Security Dealer Survey notes competitive turbulence and pricing/fee pressure are both accelerating. Smart home and interactive services can offer additional competitive differentiators, so the industry as a whole will benefit as systems expand integration capabilities across smart home devices and security manufacturers invest in additional training for their security dealers.

For more information about Security Dealer Survey, contact [email protected]. To schedule an interview with an analyst or to request specific research data, please contact Elizabeth Parks at [email protected], 972-996-0202.

About Parks Associates: Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com
 

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