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Parks Associates: 41% of Households With Professional Security Monitoring Plan to Upgrade Their System in the Next Year

CONNECTIONS features insights from Alarm.com focused on consumer-centric AI and trends in smart home platform design

Security research from Parks Associates finds COVID-19 is a key factor driving households with security monitoring to upgrade their system—41% of monitored households with professional monitoring plan to upgrade their system in the next six months and an equal share plan to self-install an add-on device, with the majority citing the pandemic as a related factor. The most popular add-on devices among these monitoring households are video cameras, smart lighting and video doorbells.

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International research firm Parks Associates will feature new consumer research and insights from industry leaders in connected home and IoT at the CONNECTIONS Conference, November 10-12. The virtual conference, sponsored by Alarm.com, a leading platform for the smart home, is the premier conference covering the smart home, featuring consumer research and executive insights as well as the market shifts caused by the COVID-19 pandemic.

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“COVID 19 has put a focus on the home environment for consumers and increased interest in use cases enabled by smart home solutions, and US broadband households with professional security monitoring are a leading segment in the adoption of smart security devices, specifically security cameras, security lighting, and video doorbells,” said Elizabeth Parks, President, Parks Associates. “This influx of connected products and services will need a solution that can intelligently connect and control all these points in the household. We look forward to insights from Alarm.com and other market leaders about advances in AI and applications that can enhance the user experience.”

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“With smart home technology and connected devices continually improving, it’s no surprise that many people are looking to upgrade their existing systems,” said Anne Ferguson, VP of Marketing at Alarm.com. “Analytics and computer vision, especially, are broadening the applications and abilities of today’s systems. Affordable, professionally monitored solutions that are managed through a unified platform offer integrators increased customer loyalty, recurring upsell opportunities, and long-term RMR growth.”

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