How The Tech Industry Is Expanding “Peace of Mind” To Protect Smart Homes

New competition from internet service providers, tech giants, and smart home device manufacturers is growing, with innovation and increasing choices for security solutions helping to advance the market.

About one-third of US households have a security system in their home, and the vast majority have interactive services that include connected devices attached to the system.

Some consumer segments are shifting demand to less expensive DIY alternatives that forgo some added safety yet still feature a baseline of alerts and other security features. DIY benefits can include lower costs of purchase, installation, and ease of purchasing.

Still, many consumers are realizing that their households cannot be fully protected without a professional monitoring service that works in an integrated, complementary manner with DIY hardware.

Additional support offerings for these devices will be important, particularly as consumers add more and more devices to their network. These add-on services will entice customers to see new value in monitoring contracts, add stickiness and satisfaction through a bundle, and strengthen brand loyalty.

Download our complimentary whitepaper “Protect the Connected Home: Home Security Meets Personal Privacy,” in collaboration with Assurant. 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. Download now: https://bit.ly/3PB5VtX