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The influx of private equity funds into this hot space will fuel mergers and acquisitions.
There is continued interest from Internet giants and other entrants into this space that will cause disruption to the traditional business models. However, there is enough consumer demand to support the traditional and new business models that play in our sector. I believe most dealers and integrators will grow in 2017, provided they embrace the available technologies. ”But “wait and see” may not be the best tactic, Hevia says. “The approach that a Ring or SimpliSafe and a host of others have taken is they have found out what the salient needs are with respect to consumers on security . and done a good job of making products appealing. I think the traditional security companies can take a page out of these direct to consumer companies and market the product based on what
people are dying to do, which is protect homes and families and alleviate problems. Traditional security companies would be well served to follow suit in their marketing and ad campaigns. ”One thing many in the industry do caution about, however, is not to let the medium swallow the message. “There are a lot of things the industry is starting to focus on as enhancement to the core offerings; but it is important not to get caught up in buzzwords or even the technology itself, but what it enables the customer to do,” says Greg Blackett, senior product manager, Tyco Security Products, Toronto, Canada.
