Home security market booming as a result of a rise in crime rates and technological advances

A recent study by Research and Markets has uncovered that the global home security solutions market is experiencing considerable growth and is expected to grow by a further 8.7% between 2015 and 2020.

This research illustrates that security is still a key concern amongst homeowners and can be attributed to a number of factors:

Crime rates
According to the Office for National Statistics, there were 750,000 burglaries in the UK in the year ending June 2015 – that’s three quarters of a million! So it’s no surprise homeowners are turning to security solutions to improve their defences and keep their belongings secure.

Attractive insurance policy offers
Some home insurance providers offer discounts if you can provide proof that adequate home security measures are in place. For example, if you have a home alarm or locks that meet British Standard BS3621 some home insurance providers offer a discount of up to 5%.

Attainable devices
With the growth in awareness of the smart home and Internet of Things, smart security devices are becoming more and more commonplace. Coupled with increased competition and falling costs of hardware, smart technology is becoming a lot more accessible for the everyday homeowner.

Understanding the benefits
There is also a growing awareness about the benefits smart security systems and the smart home can have. Connected security systems allow you to check on your property remotely from anywhere in the world at anytime – ideal for busy Mums who want to monitor their children at home or check on elderly parents. Additionally, you can receive notifications instantly to your smartphone should your alarm system be triggered.

Growing number of tablet and smartphone users
Finally, the number of people using tablets and smartphones has increased dramatically. Last year, a third of all online activity was conducted via a smartphone, with tablets and mobiles now being the primary device in most UK households*. As a result, centralised control of homes through these devices is much more appealing.

Learn how you can benefit from smart security here.

*Ofcom