2020 Monitoring Deep Dive: Trends, Opportunities & Challenges
SSI’s 2020 Monitoring Deep Dive surveys the monitoring landscape, revealing commercial RMR vs. residential, COVID-19 concerns and much more.
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There are two main reasons why professional providers of electronic security systems have fared better than many if not most other types of companies during the coronavirus pandemic.
First is how critical the industry’s solutions are in protecting life and limb regardless of extenuating circumstances; and by extension security pros being designated as essential workers. That is from a practical standpoint.
From a business perspective, an emphasis on cultivating recurring revenue streams lays at the heart of the security industry’s fiscal resilience — even during historic economic downturns such as that seen earlier this year. And the pulse of that heart emanates from monitored services.
Cast in that context, as an installing security dealer or integrator there perhaps has never been a more urgent scenario than right now to reassess and reevaluate where your company presently stands in its monitored accounts business. So the timing is ideal for the introduction of Security Sales & Integration’s first Monitoring Deep Dive study.
This research culls and analyzes data from a wide variety of professional installing security firms across the nation that contract with wholesale third-party monitoring centers. The purpose of the project is to identify the key trends, opportunities and challenges security pros need to know.
Among the plethora of findings is that for basic alarm monitoring only, dealers are averaging $144K in residential RMR and $110K on the commercial side; around one in five customers are now subscribing to more than just basic alarm monitoring; one in five commercial subscribers signed up for remote video monitoring; around one in four dealers are offering a self-installed monitoring alternative; concerns run high both on sunsetting cellular communications and the impact of COVID-19; and customer service is the most important quality in a monitoring partner.
Read on for facts and figures concerning total monitored account bases, revenues per account, leading monitored services, most promising technologies, hottest commercial monitoring markets, what dealers most want from their monitoring providers and more.
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