Fastest Growing Segment in the Smart Home Market
Connected home penetration expected to almost double globally between 2017 and 2019, with Smart homes forecasted to have 500+ devices per household.
90% of consumers articulate that Safety & Security is the #1 reason to go smart, with connected video cameras being the primary smart security product used by consumers to monitor and secure their homes.
Continued growth in the residential home security due primarily to the following:
- Crime rates – a home burglary takes place about every 18 seconds in the US.
- Discounts on home insurance policies.
- Increased popularity of home automation and smart homes.
- Tech savvy millennials.
- New technology has people upgrading existing systems.
Industry Trends: Security / Home Installation / DIY Channel
- Reuters projects a Global Connected Home Security System Market CAGR of 27% between 2017-2021.
- Key US Players – ADT, Comcast, AT&T and Tyco Security Products (3 of 4 are SkyBell customers).
- In 2017, 75% of security installations included interactive capability (e.g. via a cell phone app) up from 50% in 2014.
- Networked IP cameras (including Video Doorbells) are the most frequently installed products by Security Systems Dealers (SSD).
- DIY systems sales are encroaching on Dealer installed security systems, however the estimated size of the DIY market in 2017 is under $500M and very small compared to Dealer Security Systems of $30B (including monthly monitoring revenue).
- A growing number of security SSD’s are now selling DIY systems even though they are less profitable.
- About 50% are greenfield installations i.e. first time installations in the home mostly in new construction.
SkyBell is on a mission to make safer homes and neighborhoods, starting at the front door. Our goal is to eradicate neighborhood crime and connect people to proactively create and enjoy the safety and lifestyle they want most.
We pioneered the smart video doorbell, and our doorbells are the only ones trusted by some of the top home security companies in the world. We have over 100 issued patents and are well positioned for success.
If you’d like to join us on this mission, or have any questions from an investor perspective, please contact us by emailing [email protected].
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