Whether home security means an alarm system, a shotgun, or a big angry dog, home security means the world to a lot of users out there. The old adage about a home being a castle still resonates within the souls of homeowners, or even home renters, and that means a big new opportunity. An opportunity that research from NUMBERS and Parks Associates reveals will mean a huge new advance in professionally-monitored home security in Western Europe by 2020.
The new study finds that households with such security systems will surpass the eight million households point by 2020, and generate annual revenues of over $4 billion. One of the biggest points driving that profitability is the increasing industry crossover, as firms like Amazon and SmartThings are looking into new partnerships and, accordingly, driving new business strategies, according to word from Parks Associates president Stuart Sikes.
While security will be a big part of the upcoming picture, it's only part of a larger development at work. Monitored security services are generally considered to be a part of the smart home, which includes complete management options for just about everything from home entertainment to climate control to even grocery shopping thanks to some connected refrigerator systems.
Smart homes will have several issues to overcome before going into truly wide use, like a comparative lack of standards—though that's been improving in recent years—and some issues of expense. It's not hard to remember Andrew Schmitt, who back in 2013 was a fair representation of some of the problems homeowners faced in putting smart home systems to work. Schmitt's smart home was a mishmash of technologies so convoluted it required both an iPad and an iPhone to keep it all together and working.
Smart homes in general are getting better, easier to use, and just plain smarter than back in Schmitt's day. Interestingly, they're also getting more complex, with some systems available to control from systems built into our cars. While smart home technology isn't always the greatest—many have serious issues with privacy connected to smart metering systems for utility consumption—it's increasingly representing a great way to do everything from make sure our homes are safe to make sure all the lights are off when we leave.
The smart home is catching on, as users discover the benefits associated with such systems and put these to work. It's got a ways to go before it's more universal, but with all the development so far, it's a safe bet we'll get there before too much longer.
Edited by
Stefania Viscusi
