Home Security Sales Expected to Reach $134 Billion by 2025
According to SecurityToday, a new report indicates the worldwide home security and safety market will reach $134.5 billion by 2025. The increase stems from the growing popularity of the use of smart security devices in households around the globe. The report conducted in-depth analyses on several factors such as emerging product trends, growth drivers and market structure.
Included among the products dominating the market are alarm systems, video surveillance systems, and all-in-one security system. A comparison of the popularity of professionally installed products with do-it-yourself (DIY) installed products shows growth in demand for the latter. Key players in the industry include ADT, Amazon, Security Solutions, Ring, Vivint Smart Home, SimpliSafe and many others.
Many of the Best Security Strategies Cost Very Little
The StarTribune advocates employing some basic measures to improve home security before taking on the expense of an alarm system or other high-priced gadgets. Since most intruders break into a home through unlocked windows and doors, it advises the following:
- Install dead-bolt locks on exterior doors.
- Bolster the locks on sliding glass doors.
- Replace hollow-wood doors with the solid variety.
- Make windows more resistant to a break-in.
In addition, the publication recommends various practices to reduce the likelihood of a home theft. These include keeping valuables in a safe-deposit box, getting a dog, locking up guns, and eliminating landscaping that obscures doors.
Tech Giant Apple Might Enter the Home Security Industry
Apple, one of the country’s leading tech companies, might enter the home security industry. It recently purchased three patents from failed home security startup Lighthouse AI, as well as three patent applications for products that monitor environments for security purposes, reports Fortune.
Experts are speculating about how Apple plans to use the patents. The company often makes small acquisitions from other businesses that eventually become a feature in products it already sells. Another possibility is that Apple has plans to join its two largest competitors – Amazon and Google – in the home security industry.
Trend: Home and Business Security Cameras Helping to Fight Crime
Law enforcement agencies in some cities and towns across the country are asking residents and businesses to register their security cameras. Should a crime occur, footage from the cameras can be an invaluable tool to help investigators catch culprits. Large metro areas, such as Washington D.C. and Chicago, depend on massive networks of public and private security cameras to solve crimes; and other cities are hopping onboard the bandwagon.
The exact method of registry varies among communities: while some use the national website CrimeReports.com, others use a local registry system. For instance, the Santa Maria Police Department in California has a Surveillance Camera Registry: reports KEYT News.
Home Security Firm ADT Has Disappointing Fourth Quarter: Shares Fall 10 Percent
Amid intensifying competition from DIY home security systems, ADT Inc. reports a disappointing outlook, said Reuters. The company had a net loss in the fourth quarter of 2018, and its forecasted 2019 income fell below Wall Street estimates. ADT enjoyed a 33-percent cash flow growth in 2018, but the projected growth for 2019 is only 6 to 13 percent. Consequently, the stock fell 10 percent.
ADT is the manufacturer of Pulse, a home security system that is professionally installed and allows users to monitor it remotely. Its competitors are Google Nest, Frontpoint and SimpliSafe, all of which can be self-installed and have a lower monthly fee.