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5 trends that will shape the home security industry in 2018

 

 

Rapid innovations in the home security space – both globally and locally offer residents access to an array of hardware and software solutions to keep their environs safe and secure.

There was a time when a strong deadbolt was the end-all be-all of home security. But times have changed. These days, people across the world are investing their hard-earned money in home security.

Systems could range from light sensors or security cameras to a suite of integrated "smart home" solutions. Together, security products are big business. The global security market is slated to surpass $100 billion by 2020. Home security systems will account for an estimated $47 billion of the total security market.

What will we see in 2018?

Millennials' consumer preferences are spurring growth across industries, and the home security market is no exception. Mirroring most other aspects of their lives, they will also prefer to have control over the way they reside as well.

This also reflects in their behaviour of buying homes as most of them prefer apartments and gated communities for all the amenities and safety it promises. But does moving into an apartment ensure complete security?

Thankfully for us, rapid innovations in the home security space – both globally and locally offer residents access to an array of hardware and software solutions to keep their environs safe and secure. Let’s look at some trends that will shape the home security in 2018:

Inadequacy of existing systems

As the consumer experience has moved from brick and mortar to door service, the footfall at gated communities and apartments has increased manifold. The existing system of guards, registers, and wire-based intercoms are proving inadequate in handling this surge.

The record keeping in this setup is prone to inaccuracies and incompleteness. Also, data on a register is easily accessible to anyone and can be easily siphoned off, which poses a grave risk. 2018 will see the existing systems become obsolete as newer technologies will emerge and change the way security systems function.

Rise of app-based smart security systems

2018 will see the rise in adoption of app-based security systems for gated communities. Residents now want complete control over visitor authentication and validation, even from a remote location, which is possible only through app-based security systems.

The biggest advantage of such systems deployed at community gates is that they are free of capital investment and can continuously evolve to tackle the rapid changes happening at the gate.

Computer vision coming to fore

Advancements in artificial intelligence (AI) – particularly in deep learning – have further accelerated the proliferation of vision-based applications in security space.

2018 will see facial recognition technology become omnipresent according to AT Kearney, a global consulting firm. For example, in a security camera, a computer vision algorithm can efficiently detect faces or moving objects in the scene.

Then, a smaller segment of the image where the face or object was detected is processed through deep learning for identity verification or object classification. Going forward we are going to see this technology deployed for access control, object tracking, intrusion detection and even for attendance.

Connected Security Platforms

Most of the activities at entry/exit gates in an apartment today are either not captured or are recorded in registers. The offline nature of this data means that it cannot be used to derive any useful insight. In addition, almost all the systems deployed for security such as visitor logs, CCTV, access control are standalone applications, which are also offline.

2018 will see more actions towards connected security platforms where disparate systems can connect and act in a coordinated fashion. Connected systems will also provide a comprehensive view of security, with analytics that can drive proactive actions to avoid security issues.

Child safety

Worrying about a child’s safety can be stressful. As a parent, protecting your children is your top priority, but you can’t be everywhere at once. An intelligent home security system can provide the peace of mind you need, no matter where you are.

2018 will see security vendors integrate safety features specifically for kids who stay alone at home in gated communities in the absence of working parents. Features such as approvals for kids to step out of gated community /apartment complex through an app or digital validation of caretakers/nannies will help parents to keep an eye for their children's safety even from remote locations.

Conclusion

Our outlook for 2018 is that the coming year will see a sustained adoption of comprehensive home security systems. We'll see citizens from all walks of life realizing value and making the investment in smart home technology. Through automation and combining several smart home elements, homes in 2018 will be safer than ever.

About priyanka sharma

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