Competition from DIY solutions, low-cost smart home devices, new business models, new partnerships, emerging technologies and new entrants continue to transform residential security.
The home security market continues to grow as more pro providers offer DIY solutions and DIY brands add pro monitoring.
Like a standalone smart home, individual residences can be “personalized” and automated with security, lighting, climate control and more.
Video analytics, such as facial recognition, will play a major role in the future as a result of normalizing specialized algorithms in home security systems.
Companies that address the growing health and safety needs of consumers are being rewarded, taking share from those that are slower to adapt to this dramatic shift in the market.
Parks Associates says home security systems are a promising path to drive smart home adoption rates among households with children.
As smart home device use continues to rise, integrators can be relied on to deliver a unified app experience.
ADT’s recent moves suggest a continued focus on professional installation as COVID-19 restrictions begin to lift, however, 45% of consumers report purchasing their security system through the retail channel.
Among the notable trends at CES this year was WiFi sensing, which uses disruptions in WiFi signals from compatible smart devices to detect motion.
With COVID-19 still affecting the way most Americans live, work, play and go to school, the security industry is faced with a variety of opportunities and challenges.
Take a closer look at all the recurring monthly revenue trends from our 2021 research
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