IHS Markit: Security Startup Companies Becoming More Prevalent
New research in an IHS Markit article explores the increasing number of security industry startups in the security industry, attributing this growth to the entrance of several multi-system operators such as Comcast, easy access to OEMs, increased interoperability, and easier access to funding.
In fact, IHS reports that companies that were two years old or less accounted for 6 percent of global consumer video-camera market revenues, but had grown to more than 9 percent by 2016.
Some of the effects this might have on the traditional security industry, the article reports, is new technology will be able to accumulate market share very quickly, and competition will grow fierce. Another potential effect this will have is the growing strength of OEMs in Asia.
The article reports that despite growth rates touted by DIY companies, revenues from the professional security industry continue to dwarf revenues consumer-grade security. However, global DIY intrusion equipment market revenues are forecast to grow at an average of nearly 20 percent per year from 2016 through 2021, IHS reported.
To read the article, visit technology.ihs.com/596158.