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Video Monitoring is Ripe with Opportunity for Dealers and Integrators

Jul 7, 2020 8:00:00 AM

The old phrase “seeing is believing,” has never been more true in the security monitoring industry. Whether that is video surveillance as a service (VSaaS), or the advancement of video thermal technology to help with contact tracing of COVID-19, video monitoring is absolutely a field where integrators and dealers can find huge and profitable opportunities.

Video Monitoring By The Numbers

Security Sales and Integration did a deep dive on the video monitoring industry. According to their research, video monitoring is an industry that is definitely on the rise. According to the study:

  • There are 19.88 residential video installation happen per month at an average price of $2,938
  • There are 22.14 commercial video installations happen per month at an average price of $36,904
  • There are 18.35 industrial video installations happen per month at an average cost of $251,439

Those numbers account for a 37.5% profit margin.

You might be wondering, why do industrial installations make so much more money than commercial? Industrial installations involve more cameras than both commercial and residential. Industrial and commercial jobs also need much more equipment, which runs the prices up even higher.

It also pays to offer some sort of cloud-based video monitoring service. In fact, those who offered cloud-based video monitoring services enjoyed an average of 19% growth last year. If you aren’t offering cloud-based services, you really should consider it before you’re left behind.

Challenges

It’s easy to say, “look at all the growth opportunities, you should be doing this,” but for a total picture, dealers and integrators need to be aware of possible headwinds that video monitoring brings along:

  • Cyber security - Especially when you offer cloud-based services, your company needs to ramp up its cyber security. Of course, this comes at a cost, but overall, it is worth it for your customer’s and your business’ safety and satisfaction.
  • Training - Time is money, and you are going to spend time getting trained and training your employees about new video monitoring technologies. All of your employees are an extension of your business, and ensuring they are trained is essential, but also a challenge.
  • General cost & manufacturers selling direct - It certainly costs money, and a lot of it, to venture into video monitoring, and finding sellers can be difficult. If you are having troubles finding direct sellers, then you should look to partner with an integrator distributor like Wave Electronics to help out.

What Integrators Want

If your business is looking into launching video monitoring services, you’ll want to listen to the wants and needs of integrators. If your video solutions can help relieve some of the pain points that integrators deal with on a regular basis, your business will be poised for success. Some of these pain points include:

  • Lack of 5G capabilities (future-proofing)
  • Better cloud-storage solutions
  • Better mobile apps
  • Ease of use for end-users
  • Better object tracking
  • App-based control
  • Better low-light monitoring

As you can see, even with the pain points for integrators and dealers, video monitoring is still thriving and growing. If you can answer the call, and provide services eliminating those pain points, your business is going to reap the benefits.

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