HOME SECURITY SOLUTION MARKET ANALYSIS

Lack of awareness about the latest home security solutions is can hamper the global home security solution market growth. While home security systems have advanced significantly in recent years with new technologies like video monitoring, motion sensors, and smart locks, many homeowners are  unaware of the modern options available.

Homeowners especially in developing nations have limited access to information about the constantly evolving home security technologies. Marketing and promotion of these new solutions by companies has also been inadequate to create sufficient reach. Thus, most homeowners only consider upgrading their security when a breach happens in their neighborhood, rather than proactively exploring available preventive technologies.

Market Opportunities: Integration of IoT with home security systems

The integration of IoT with home security systems provides a huge opportunity for global home security solution market growth. IoT enabled security systems allow for round-the-clock remote monitoring and control of the home from any location. Homeowners can stay connected to their homes and receive instant notifications through their smart devices in case of intruder alarms, smoke/fire detection or unauthorized entry. This provides greater peace of mind and convenience compared to traditional stand-alone security systems.

With IoT, security systems can also be integrated with other smart home technologies like cameras, locks, lighting, thermostats and appliances. This enables automated actions and enhanced protection. For example, lights and alarms can automatically trigger if motion is detected by cameras when the residents are away. Smart locks can remotely lock/unlock based on the home occupancy. Such tightly-integrated solutions deliver improved safety, convenience and energy savings for homeowners. Furthermore, IoT connectivity allows automatic alerting of emergency services in case of events like fires or break-ins. Real-time footage and location data capture can help speed up response times.