Monitored smart devices grows
ENGLEWOOD, Colo.—In a recent report Fierce Telecom note that research organization IHS, based here, predicts that the combination of professionally monitored smart and connected device revenue is expected to have a CAGR of 20 percent from 2014 through 2019 in the Americas region. In addition, smart devices are forecast to account for the bulk of growth (compared with connected devices) with 72 percent expected in 2016.
As equipment vendors and service providers compete for market share in 2016, there will be ample opportunity for both professional and DIY devices. The market for professional devices, including traditional, smart and connected security devices, in the American region is forecast to reach $1.4 billion in 2016, an increase of about $120 million from 2015. In comparison, the DIY market for connected and smart DIY devices is forecast to be worth about $570 million in 2016. When non-connected DIY devices are included, the total market will inflate to nearly $1.6 billion in 2016.