Smart Home Security Solutions Offers More Than Just Securing Your Assets

Sudden rise in thefts worldwide is driving the Home Security Industry globally. Asian countries are observing an exponential growth.

We never know when a bugler strikes, lurking around a house and waiting for a perfect opportunity to relieve a homeowner of his or her valuables. In any event where a criminal manages to bypass security a home owner can still make it difficult for him by concealing all the expensive items, say research analysts at Allied Market Research. In addition, researchers analyzing the share size and growth opportunities in the home security solutions market explain that many DIY kits can also help homeowners secure their assets. Today, the United States leads when it comes to burglaries and thefts.

So what are market players upto?

Courtesy: #homesecurity

What’s driving the home security solutions market?

Approximately 65% thieves or buglers use force to enter a house and gain access to the valuables. Furthermore, surprisingly over 25% enter the houses through windows or unlocked doors. Many homeowners are exploring the functions and advantages of wireless home security solutions market nowadays. That’s because over 20% of the thieves were reported cutting the alarm wires before they entered the house.

As per the FBI, the dollar loss due to burglary in the United States alone is close to $2,185. Besides this, Bureau of Justice Statistics Special Report reveals that about 28% of the home owners were present when the buglers entered the house.

Home security solutions market prospect

Today the home security solutions market consists of the security services, mechanical security as well as electromechanical solutions. The value of the security industry is believed to be over $ 249 billion. The segment in which major brands such as Robert Bosch GmbH, Control4 Corporation, Allegion PLC, and others are active accounts for over 12% of the total industry. The private residential category accounts for approximately 25%.

Home security solutions market sales across regions

North America is known for investing about twice as much on different emergency exit equipment as the Europeans. Moreover, North Europeans tend to spend approximately three times as much on advanced security locks for residences as North Americans. Besides this, the automatic doors are common in both the United States and other countries located in Europe. The demand for evacuation solution is equally high in the United States and Europe.

In addition, the technology paradigm is shifting from mechanical to advanced electromechanical. The smart locking category is significantly growing in the residential segment. The sales of home security solutions in South Korea have been boosted by the presence of prominent brands in the country. A wide range of home security solutions such as video security systems was launched in the United States, United Kingdom, Scandinavia, and Australia last year. But the lock industry still looks fragmented, worldwide. The home security solutions market across different nations is highly consolidated as many companies are family–owned.

Rise of DIY Home Security Solution Industry  

Today, there are many DIY options available in the market that can save the home owners a lot of cash and time. And unlike conventional security solutions, these advanced systems have several advanced features. Users can not only use the camera in the DIY home security kits to record the activities when a dog walker shows up but also gets an alert when carbon monoxide levels increases. Many of these kit manufacturers are known to provide a peace of mind by offering 24 –hour monitoring.  

One of the most popular home security product is the Piper NV. The device is basically a camera –based system that can easily and effectively connect to an Android or an iOS smartphone. Second is a motion –detecting, advanced night –vision camera called Canary. In addition, Panasonic consists of two weatherproof outdoor security cameras in its do-it-yourself kit. The product is available on panasconic.com and Amazon.com for approximately $299.

Watch what DIY home security products can offer

https://www.youtube.com/watch?v=8NKBbmV4gRI

Competitive landscape of the home security solution market

The market place especially in India is growing. In a recent incident, Snapdeal made a bold move by entering into an exclusive collaboration with Godrej Security Solutions. As a part of this deal, officials from Godrej Security Consulting Services would be visiting customers of Snapdeal and conduct a thorough need –assessment. The officials will further suggest different measure to make homes secure. The market shares of Nortek have been rising after the company announced a $2.8 billion merger. Melrose has finally acquired the company and gained an access to Nortek’s home security solutions as well as ventilation. Commenting on the recent merger Michael Clarke, the chief executive officer at Nortek said, "We are very pleased to have reached the proposed agreement with Melrose Industries, which represents a significant premium for our shareholders." He further explained, "We believe this transaction will be a positive for our employees and customers alike”. The agreement will create new opportunities for Godrej lockers too.

Home security gets better with technology advancements

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Where most customers buy their home security solution?

Home security products are out there, but unfortunately most customers are unaware of where to purchase these from. Approximately, 30% of the United States customers know where to purchase the smart home solutions or services from. This figure has often raised concern among the product developers. Customers have an access to several award-winning home smart security solutions through the global network and with the help of fully trained resellers. These authorized resellers will help customers select from the best of the products, whether it is for your home or business.