Parks Associates: 67% of Security System Owners are Interested in a Warranty Service That Replaces or Repairs Damaged or Otherwise Inoperable Devices

New whitepaper in partnership with Assurant addresses new opportunities for device protection and data privacy services among home security providers

DALLAS, Dec. 8, 2022 /PRNewswire/ -- A new Parks Associates whitepaper, Protect the Connected Home: Home Security Meets Personal Privacy, reports 67% of security system owners are interested in a warranty service that replaces or repairs damaged or otherwise inoperable devices. The research, released in partnership with Assurant, highlights consumers' privacy concerns around smart home devices and the opportunities that pro monitoring security providers have to offer warranty, cybersecurity, and other add-on services.

"Smart device owners are demonstrating their interest in warranties in addition to support and protections for their connected devices as add-on services," said Frank Saldaña, Research Analyst, Parks Associates. "Our research shows that almost half of respondents have purchased an extended warranty/device protection service of some kind, up 15% from Q2 2019."

The whitepaper, developed in partnership with Assurant, 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.

"The surge in the need to be connected over the past several years, coupled with the dangers of hacking and identity theft, has opened the eyes of consumers and heightened the need to protect their personal identity," said Jeff Unterreiner, President of U.S. Connected Living at Assurant. "Along with personalized support, these value-added services are key to increasing consumer adoption of the connected home."

Home security firms are in a strong position to offer personal data privacy and security as an add-on service. "Home security owners have assigned a significant level of trust to their security providers to ensure the protection and monitoring of their homes. Protecting the digital aspects of home life naturally aligns with the core security value proposition," Saldaña said.

This whitepaper is available for download. To request more data or an interview, please contact Rosey Sera at [email protected], 972.996.0233.

Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35^th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, Smart Spaces: Apartments, Hospitality, and Community Living, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

Contact:
Rosimely Sera
Parks Associates
972.996.0233

SOURCE Parks Associates