Worldwide Security Devices for Connected Home Set to more than Double by 2021

  • Posted on: 18 October 2015
  • By: chw staff

Security devices and solutions are expected to more than double over the next six years are according to study by WinterGreen Research.  The continuation of 2014 trends, combined with low market awareness of the value of home automation, will force many connected home vendors to pivot and offer more than simple apps for device monitoring and control.  Traditional security systems will gradually make way for next generation solutions such as access sensors, 3D video cameras and intrusion detection devices that can alert a person on their smart phone.

There is significant innovation in the market for the connected home.  Lower hardware prices, abundance of cloud capacity, sensor miniaturization, increased bandwidth availability, advances in wireless standards and mobile device such as smart phones. Wireless devices are more energy efficient, last longer and have a significantly lower cost of operation.

The connected home industry is now going through a major shift where people are using the apps on their smart phone to substitute for a security monitoring service. 2014 saw a wide expansion of security based do-it-yourself (DIY) home devices.  Hub-based systems, point solutions, modules, and kits were available as self-install home security units.  Security systems are part of a larger smart home systems market.

Early adopters are adding to new devices to the ones they already have.  The new devices are interconnected to apps on the smart phone, which allows users to receive alerts, allow control of the home appliances such as heating, lighting, and get live video feed of their home environment.  The best security products to keep the home and family safe are interconnected modules.

All these factors will drive the worldwide connected home market to reach an estimated value of 7.7 billion dollars by 2021.  “In 2014 the Security for Connected Homes saw a large number of big-name acquisitions and entries.   Samsung made an acquisition of SmartThings.  Google’s acquisitions were of Nest, Dropcam and Revolv.   Apple Launched HomeKit”, said Susan Eustis, report author.

Consumers, especially in younger generations, expect mobile apps, security cameras, and mobile notification features with their home security systems. Older generations and the non-do-it-yourselfers have a hard time with installation and maintenance of DIY connected home solutions. The combination of needs from both the young and old are creating a favourable environment for strong sustained growth in the Do-It-For-Me (DIFM) interactive security and connected home space.