- Smart Home Security
- HD Security Camera System
- Wireless Security Camera System
- PoE NVR Kit
here\'s why diy home security will soon be a billion dollar market
If you don\'t believe me, look at the news this morning. According to The Wall Street Journal, Sequoia has invested $57 million in its own investment.
A family safety system that can be installed, without a contract, costs less than $300.
But it\'s not just simple.
Many startups are leveraging the Internet of Things and smart home technologies to bring new products to the home security market, and more importantly, to bring new business models.
Some people, like Dropcam, a maker of Wi.
Fi cameras enter the market for the first time under the guise of gadgets purchased by most consumers for reasons other than security, but, they find that with simple product extensions, they can turn the product into low
Cost DIY home security solution.
Other companies, such as start-ups Korner and Canary, are developing specially built systems that provide basic home safety for a few hundred dollars or less.
Sequoia has installed more than 100,000 systems since its inception in 2006.
This kind of thing is creating a product that takes advantage of a largely untapped consumer market that does not match the traditional home safety customer profile of high-income homeowners in the collection.
In fact, according to a new report by NextMarket Insights, the traditional securities market has almost ignored the RRR consumers of 1 out of 3, and has also neglected to provide affordable solutions for low-income consumers, paradoxically, given the correlation between poor communities and crime rates, family safety may be most needed.
Some would argue that comparing these updated solutions to a professionally installed solution is to compare apples to oranges, which is correct.
But the thing is this: in fact, many new solutions have professional monitoring (Like SimpliSafe)
Although, like Korner, those who do not provide some degree of family safety are provided before they do.
That\'s why the market is predicting that the DIY home security market will be $1.
By 2020, the market share was 5 billion.
Because after all, there is still a choice in the end.
Your own safety.
Better than no choice.
Michael Wolf is a smart home analyst at NextMarket Insights.
You can get a free copy of the executive summary of his smart home security report and follow him on Twitter.