Residential integrators looking for fresh home security prospects should keep an eye on the smart home camera market. According to a new report from media and technology research firm Interpret, half of smart camera owners consider their smart cameras to be their home security system. Most of these owners do not have another security system in place, yet only 14% express no need to have another system, providing an opportunity to sell systems as add-ons to smart cameras.
Interpret also found that 15% of smart camera owners and intenders currently see value in a camera monitoring service, as self-monitoring of false alerts can be both demanding and difficult for many homeowners.
“The data identifies emerging business opportunities to sell ad hoc camera monitoring services and outdoor camera-only monitoring services independent of traditional security system monitoring,” says Brad Russell, vice president, Interpret.
“Despite the growing popularity of monitored smart cameras, a majority of owners are also likely candidates to eventually upgrade to monitored systems with additional sensors, providing an attractive path for systems makers to first sell cameras, then add more complete systems.”
Consumer interest in WiFi camera products is surging with new form factors, features, and attached services providing an array of options, according to Interpret’s latest research.
Smart Home Matrix (Volume 4): Smart Cameras and Video Services examines adoption, brand, purchase considerations, price points, installation, and the uptake rate and fees paid for Cloud storage services. The report explores consumer attitudes regarding smart cameras and their relationship to security systems, as well as the adoption of pro-security with video services.
The research is part of an ongoing quarterly survey of 10,000 U.S. consumers, ages 18 to 85, a component of Interpret’s smart home research suite of syndicated reports providing insights and business guidance for the smart home industry.
This article originally appeared on our sister publication Security Sales & Integration‘s website.