Skip to main content

Growing IoT Role in Connected Home Security Services

Home automation is reaching an inflection point. Service providers -- including telcos and cable operators -- are introducing a range of offerings to this market. The intersection of home automation services with wearables, Internet of Things (IoT) sensor technologies, big data analytics, and health management services creates new opportunity.

A growing roster of smart home services and device providers are using home security monitoring as a beachhead to introduce home automation services, according to the latest worldwide market study by ABI Research.

In the key U.S. market, considered by industry analysts to be a bellwether for developed markets around the world, around 15 million more U.S. homes will invest in new connected home security services in the next 5 years.

"After decades where penetration into U.S. households stalled, home security adoption is set for significant growth," said Jonathan Collins, principal analyst at ABI Research.

However, it will not be the sole preserve of traditional professionally monitored home security providers. Consumers can now choose from an array of non-traditional suppliers, new technologies, and innovative services that balance value with cost.

Through managed smart home offerings from retailers such as Lowes and Staples as well as standalone devices such as video cameras from Dropcam, or smart locks from Kwikset, consumers increasingly have the option to install and monitor their own security systems.

Demand for such smart home systems will outpace those for traditional professional monitored security subscriptions as, among other attractions, they ditch the installation fees, monthly payments and long service contracts of the traditional offerings.

At the same time, professionally monitored security service providers such as Frontpoint Security and NextAlarm offer solutions where users self-install their devices, or can integrate existing dormant installations into new IP based services.

ABI believes that self-install and self-monitor home security solutions are real threats to the traditional business models offered by mainstream home security vendors.

While matching these solutions is one option, traditional vendors need to look for ways to better integrate their core services with partner smart home services. These services can range from call-center monitoring as a plug-in service to bringing home video monitoring into the call center.

Popular posts from this blog

How Savvy Pioneers Lead the Future of Work

Hybrid and fully remote work are inevitable in the Global Networked Economy where high-performance talent demands flexibility from employers. To enable these progressive work models, organizations are investing in a wide range of technologies to support more agile types of employment.  According to the latest worldwide market study by International Data Corporation (IDC), leading organizations will spend nearly $1 billion on the Future of Work (FoW) in 2023 -- that's an increase of 18.8 percent over 2022. Future of Work Market Development "Work models continue to evolve, but 37 percent of decision-makers in a recent global survey note that Remote and Hybrid work models will be an embedded part of accepted work practices, supported by a continued shift to the cloud, increasingly instrumented and interconnected physical workplaces, and intelligent digital workspaces," said Holly Muscolino, group vice president at IDC . According to the IDC assessment, organizations must mak

Human Resource Transformation Enabled by IT

Many senior executives are taking a proactive approach to digital business transformation in order to achieve their strategic goals. Delivering revenue growth and profitability is now imperative for every function, including Human Resources (HR). The top 3 priority HR technologies this year are skills management, learning experience platforms, and internal talent marketplaces, according to the latest worldwide market study by Gartner. "With a tumultuous global economy, HR technology leaders face a balancing act in 2023," said Sam Grinter, director at Gartner . "Leaders must anticipate greater levels of accountability and demand for measurable outcomes to justify new technology investments." HR Transformation Market Development Forty-four percent of HR leaders report driving better business outcomes is their number one strategic priority for HR technology transformation over the next three years. Growth in headcount and skills (26 percent) and cost optimization (17 p

Virtual Reality Market Set to Reach $100 Billion

Virtual Reality (VR) market growth is now finally coming to fruition. Thanks to current actions and market momentum, VR is approaching what can be considered critical mass. And, not a moment too soon. This growth momentum comes from new hardware and content releases, accelerating enterprise value recognition, and a significant metaverse wild card that could potentially lift adoption and usage. According to the latest worldwide market study by ABI Research, over 85 million VR Head Mounted Displays (HMDs) will be shipped in 2027 across consumer and enterprise segments, creating a $100 billion VR market that includes hardware, software, and services. Virtual Reality Market Development "Expectations have been high in VR for years, and even decades, without notable growth to show. That growth is finally coming over the next five years," said Eric Abbruzzese, research director at ABI Research . The barrier to entry is lower than ever, all while content performance and user experien