After an economic downturn and slow-but-steady recovery, the tide seems to have turned for the residential and business security industry. After significant revenue growth in 2017, experts predict that the industry will continue to flourish in the coming year. This is partially due to an increase in new home builds and the growing popularity of cloud-based services, among other factors.
In a recent article in SDM, featuring KMT Systems’ owner and president Tommy Smith, the booming economy was touted as the main driver of the growth in the security industry. Specifically, Smith cited the growth in home builds as one key reason for KMT Systems’ success.
An increase in crime, contributed with consumers’ willingness to proactively invest in security systems to protect their homes, is also expected to be a factor in continued security industry growth. This is especially true in urban areas with high or increasing crime rates, as well as high-end residential areas and customers with disposable incomes.
In terms of specific security products, industry insiders expect video surveillance to drive growth in 2018, with monitoring also playing a key role. Both monitored and standalone cameras are likely to be popular in the coming year.
Cloud-based services will likely be popular and contribute to security industry growth in 2018 and beyond. These products all fit under the umbrella of “security as a service,” a package offering that provides ease and simplicity to customers while increasing company revenues.
Is there a downside to this sunny forecast for the security industry? Just one: a potential lack of skilled workers. KMT Systems is currently hiring an installer/technician – click here to learn more and apply.
If you’re looking to better protect your Atlanta home or business through affordable home security monitoring, give KMT Systems a call today.