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Market Landscape of the Interactive Residential Security Market in the US:
The Interactive Residential Security Market in the US is witnessing a healthy growth phase and is expected to post a CAGR of around 32% during the period 2014-2019. This report includes a discussion on the competitive landscape with many large multinational companies and many small local players. To survive and succeed in this intensely competitive environment, it has become necessary for vendors to distinguish their product and service offerings with a clear USP. Rapid changes in technology and a frequent shift in consumer preference constitutes a significant concern for most vendors in this market.
Large vendors are continuously improving and introducing new features and service extensions that can render their competition obsolete. To remain competitive in this market, vendors not only have to develop newer technologies but also have to be abreast with the emerging technologies that could affect their product lines.
Top Companies in the Residential Security Market in the US:
The report presents an insightful comparative study of key leading vendors based on their applications to include the following:
The other prominent vendors in the Residential Security Market include Amdocs, Arrayent, CentraLite, Ecobee, Electrolux Home Products, Google, IBM, Ingenious Med, Ingersoll-Rand, Intel-GE Care,, Leviton Manufacturing, LG, Lutron Electronics, Numera, Overhead Door, Radio Thermostat Company of America, Savant Systems, Siemens, Somfy Systems, Tendril Networks, Tyco, Universal Electronics, Versus Technology, VIA International, and Whirlpool.
Evolution of interactive residences:
Source: Technavio Analysis
Convergence of Residential Security with IoT:
With the increased use of mobile devices, laptops, and tablets, the demand for wireless networks for efficient data transmission has increased. According to Technavio analysis, the interactive residential security market in the US is expected to converge into IoT.
Earlier, individual devices used in smart homes were connected to the internet for proper communication between homeowners and smart devices. With the advances in technology, all the smart devices will eventually converge into a central hub. Convergence of residential security into IoT is set to improve communication between devices without any human intervention.
For instance, the motion sensor used in security systems will offer greater serviceability if integrated with light controls and heating, ventilation, and air conditioning (HVAC) systems. Such integration would thus allow greater control over the residence, with the implementation of home security systems.
Commercialized Smart Home Products by Leading Technology Companies:
The HomeKit offers controls through smart devices like iPads and iPhones through specific APIs. Devices can be configured as per need and controlled using Siri, Apple's intelligent voice assistance that allows the homeowners to control smart devices with their voice. Apple is planning to partner with a number of smart device manufacturers including iHome, Haier, Withings, Philips, iDevices, Belkin, Honeywell, and Kwikset. Some of the smart devices manufactured include MyQ Smart Garage by Chamberlain, smart sensors by Elgato, iSP5 SmartPlug by iHome, and Insteon's Insteon Hub.
Samsung Smart Home:
Samsung is planning to acquire SmartThings, a fast-growing home automation startup, for US$200 million. Samsung is planning to introduce Smart Home where an app converts end user's smartphone into a remote control to access smart devices. It helps homeowners to connect smart devices with a single smartphone app that acts as a hub. The various functionalities of SmartApps are:
Google has acquired Nest Labs in January 2014 for US$3.2 billion. Google announced a new program called "Works with Nest," which provides a set of APIs for manufacturers to include in smart devices. Currently, the product portfolio of Nest includes only two products: thermostat and smoke and carbon monoxide detector. The company has announced a few new partnerships with the companies like LG, Withings, and Philips as part of the "Works with Nest" program that will enable integration of thermostat and smoke detector to a number of devices like fans, lights, doors, and washing machines. "Works with Nest" has been working with a handful of companies, including Jawbone, Logitech, and Dropcam, already make products that are Nest-compatible.
Nest is also working with a number of other companies like Whirlpool, August, and Stack. August is a smart-door-lock upstart and Stack makes motion-sensor-packed light bulbs that adjust the intensity of light based on the time of day. For instance, unlocking a front door will enable thermostats to adjust the preferred temperature, turn on the lights, and clothes dryer will switch over to a quieter mode. Thus, a thermostat will function as a remote control for the entire home.
Other Sections of the Report Include an Analysis on the Following:
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