New white paper in partnership with Ubiety
features interviews with first responders to deliver unique view of
residential security market and alarm response
DALLAS, May 2, 2024
/PRNewswire/ -- Parks Associates today announced the new white
paper Next-Gen Professional Monitoring: Scaling
Verification, in partnership with Ubiety, which reveals 18% of
households with professional monitoring, approximately 4.8 million
US households, reported a high intention to cancel their monitoring
contracts in the next 12 months. This finding comes as interest in
self-monitoring is increasing, with 34% of security system owners
with professional monitoring considering a self-monitored system
when shopping.
The research presents custom primary industry and consumer
research conducted by Parks Associates to highlight multiple
warning signs for the security industry. It shares data from
interviews with first responders, including their view of security
alarms and how their past experiences impact current response times
and cause them to deprioritize security alarms. The firm's research
reveals universal agreement that false alarms are a problem for the
industry, with negative consequences for the customer, the security
dealer, the monitoring centers, and the first responders.
"Security providers are in a unique position of trust with their
consumers, but the new options for security solutions are
appealing," said Daniel Holcomb,
Senior Analyst, Parks Associates. "The risk of losing customers to
self-monitoring or alternatives to systems is real."
"Parks Associates' white paper shines a critical light on a
major challenge plaguing the security industry – false alarms and
lack of consumer value," says Keith
Puckett, CEO of Ubiety Technologies. "The data paints a
clear picture: the current state of affairs is unacceptable for
homeowners, law enforcement, and the security industry as a whole.
At Ubiety, we are committed to developing and deploying innovative
solutions that significantly reduce false alarms and enhance
security while increasing homeowner engagement. We are grateful to
Parks Associates for their leadership in raising awareness of this
issue and look forward to collaborating with industry partners to
develop a future where reliable security and peace of mind go
hand-in-hand."
Parks Associates research shows that 15% of households who
recently cancelled their professional monitoring cite false alarms
as an issue, alongside high monthly fees and lack of value/use of
the service. Additionally, 20% of the consumers who cancelled their
service report purchasing an alternative smart security device to
monitor their homes.
The white paper details public safety perceptions of alarms
and new approaches to false alarms:
- Public safety officers are frustrated by limited information
passed down from the monitoring center.
- False alarms and slow response times threaten to undermine the
value proposition of home security systems and monitoring
services.
- A coordinated approach among leading monitoring providers and
security platforms can minimize compatibility issues and create
better experiences for dispatchers and consumers. Coordinated
efforts are essential for seamless deployment and the ability to
scale solutions and educate first responders.
"The professional monitored security industry has to evolve and
become more sophisticated with its solutions," Holcomb said.
"Consumers have more options now, and there is a real threat for
customers to move towards 'good enough' security solutions like
self-monitoring systems and products."
Parks Associates will discuss this and additional security and
monitoring data and market trends at CONNECTIONS™: The Premier
Connected Home Conference, hosted May
7-9 at the Hilton
Dallas/Plano Granite Park Hotel in Plano, TX. The conference features the session
"Solving False Alarms: Tech Transforming Home Security" on
Wednesday, May 8, at 2:00 pm CT.
To schedule an interview with an analyst or to request specific
data, please contact Mindi Sue
Sternblitz-Rubenstein at
mindi.sue@parksassociates.com or 972-490-1113.
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.
https://www.parksassociates.com
Follow Parks Associates on LinkedIn, Facebook, and
Instagram.
Contact:
Mindi Sue Sternblitz-Rubenstein
Parks Associates
972.490.1113
377156@email4pr.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/parks-associates-18-of-households-with-professional-monitoring-report-a-high-intention-to-cancel-their-monitoring-contracts-302134560.html
SOURCE Parks Associates