HOME SECURITY SOLUTION MARKET ANALYSIS

Key Developments

• In June 2023, Volt, a provider of smart home solutions focused on enhancing home automation and security, announced a strategic partnership with Ring, an Amazon company known for its innovative home security products. This collaboration aims to expand Volt's smart home security offerings, likely introducing new products such as security cameras and video doorbells to meet the growing demand for advanced home security systems and strengthen its market position.
• In September 2022, Motorola Solutions, a global leader in public safety and enterprise security based in Chicago, Illinois, announced new innovations within its integrated video security and access control portfolio at GSX 2022. The company showcased new hardware, software and cloud-based solutions that allow security operations to detect and analyze incidents in real-time for improved efficiency, safety and security. These innovations included the new Ava Flex camera, an entry-point solution with AI-based video and audio analytics, as well as the latest advancements in the Avigilon Control Center (ACC), Access Control Manager (ACM) and Ava Aware cloud video management system.
• In April 2022, Resideo Technologies, a leading global manufacturer and distributor of technology-driven products and solutions that provide comfort, security, energy efficiency and control to customers worldwide, acquired First Alert, Inc., a leader in the home safety market based in Aurora, Illinois. First Alert offers a comprehensive portfolio of detection and suppression devices marketed through the First Alert®, BRK® and Onelink® brands, including smoke alarms, carbon monoxide (CO) alarms, combination alarms, connected fire and CO devices, and fire extinguishers and other suppression solutions.
• In March 2022, ASSA ABLOY, the world's largest lock manufacturer based in Stockholm, Sweden, signed an agreement to acquire JOTEC Service &Vertriebsgesellschaftmbh, a leading regional distributor and service provider of industrial doors in Germany. This acquisition aims to enhance ASSA ABLOY's offerings in entrance automation.
• In January 2022, Snap One, a leading provider of smart home technology and solutions based in Charlotte, North Carolina, announced the acquisition of its long-time Canadian distribution partner, Staub Electronics, one of Canada's premier distributors in the industry. This strategic move is aimed at enhancing the partner experience throughout Canada and expanding Snap One's local branch footprint across North America.