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If responses from more than 30 manufacturers, integrators and other industry practitioners are any indication, share-of-revenue from access control may be picking up.
With a strong economy, plus a healthy new construction and retrofit market, business remains steady in the fire space, with a few new opportunities, but also some notes of caution
In an economy that is staying strong, with a projected commercial construction growth rate of 4 percent annually through 2019, there is much to be happy about.
Technology changes, major shifts in the market and evolving customer expectations bring a wealth of opportunity the commercial and residential security markets.
The overwhelming consensus among security professionals interviewed for this first in SDM’s 2018 series of State of the Market articles, is that the video surveillance market remains strong and will continue to grow.
With approximately 20 percent penetration into homes, professionally monitored security systems that are now interactive and connected have a lot of room to grow — but many others also seek this opportunity. Market players from all sides agree there is room for everyone in the rapidly expanding connected home space, but will that change?
August 1, 2017
Many describe 2016 as a “pivot point” in the connected home space. While not yet out of the tall weeds, there are signs of organization and cooperation all around.
Fire detection insiders are literally “fired up” over last year’s market performance and the potential going forward. While still heavily code-driven, there are signs of technology innovations and changes pointing to more integration and opportunity than ever before.
Anyone who thinks the fire alarm industry — with its restricting codes and standards and conservative outlook — doesn’t experience exciting changes, would be wrong.
It was a good year — for many even a great one. But more and more, when it comes to access control it is a tale of two markets: the small business and small/medium enterprise SMB/SME market and the large enterprise.
The general outlook across the industry is highly optimistic as dealers and manufacturers ride the wave of integrated technologies and consumer interest to more and more growth.
Here’s the good news: Not a single person interviewed for this article said business was flat or declined in 2016, or expected it to decline in 2017. In fact, many reported double-digit growth and a continued strong business outlook, both residentially and commercially.
The video surveillance market is on a steady course of growth for now and into the foreseeable future. With a slight uptick in growth this year and not many surprises on the horizon, steady as she goes seems to be the safe bet.
The connected home space is one of “activity but uncertainty” today. The security industry holds the advantage right now, with a built-in revenue model and expertise in integration; but the challenge will be not losing that edge as outside competition starts to figure it out.