A new segment of consumer electronics is rapidly growing in India -- Home Security
By Vishnu Anand
(reproduced from ACE/EFY)
Bangalore, May 18 2019: Historically, the word security in our minds has either stood for a uniformed human being armed with basic ammunition, usually guarding an office space, an ATM, a mall or an apartment complex. For the more tech inclined, security meant anti-virus, bots and software bugs. Keeping aside the second category, a lot of advancements have happened in the first category of human-interface security systems. Partly because of government mandates and compliances, CCTV cameras today are omnipresent in most public places. The police are using video evidence to fine offenders and malls use it to identify suspicious activity. Over the last one year or so, the idea of having video-based surveillance has pervaded into our living spaces. In other words, a whole new category of consumer appliances called home security has been rapidly evolving.
Unlocking the home security market
Home security essentially is video-based surveillance for your home with a control center, which is usually your mobile phone. A handful of new-age technology companies have essentially unlocked this new market with highly attractive pricing and ease of installation. Manufacturers have realized that, unlike office spaces where extensive wiring, a mesh network and a huge 24/7 control room setup, home security needs to be a DIY activity where the installation process cannot be too elaborate. This fundamental understanding has gone a long way in middle class India opening up to the idea of home security, something they hadn't dreamt of, a decade back.
Massive global growth
Globally also, the home security market is growing rapidly. As per a report by TMR, the global smart home security market is expected to expand at a CAGR of 20.6% between 2018 to 2027. Currently, the revenue generated by the global smart home security market stands at U$ 1491.77 Million. India is a key market for home security. The reason for the existing and forecasted growth is the fact that homes are becoming smarter by virtue of multiple devices communicating with each other, advancements in sensor technology and a communication mesh of machine-to-machine interaction, all of which enable the need and easy deployment of a security backbone.
Differentiating from corporate security
In terms of pricing as well as ease-of-deployment, home security systems bypass one crucial aspect of security in general, which allows manufacturers to offer their products at very compelling prices. Unlike corporate-level security, your home doesn't require access control. In other words, you do not require permission to enter your own home. Also, your entry and exit from your own home doesn't need to be logged. Eliminating this stage from the technological scheme of things, manufacturers are offering only the video surveillance and motion sensor components of corporate security for home use. Now, let's take a look at a couple of leading brands that have entered the market recently.
One of the first companies that realized the potential for home security cameras was Xiaomi, a brand that fundamentally believes in introducing new product categories at regular intervals, and offering them at market disruptive prices. With home security, Xiaomi crashed the priced down to Rs. 2,699. The Mi Home Security Camera 360° 1080P is essentially a home surveillance camera with 24x7 operation and a 360° coverage of your home. Equipped with night vision, motion detection, a real-time two-way talk, which essentially means you can use the device as a walkie-talkie, if and when the need arises. its app based operation, you can operate the camera remotely, set preferred recording times, and view historic recordings on your phone. Xiaomi lets you choose from two types of storage options: MicroSD cards up to 64GB or NAS devices storage. For a first-time home security camera user, this product could well serve as the entry point for something more serious.
For serious multi-camera security, there's a brand like Godrej, which offers you an entire DIY kit for around Rs. 12,000. The kit consists various combinations for instance 2 dome cameras with 2bullet cameras, along with a 1 TB hard drive, a digital video recorder that is compatible for analog as well as digital feeds, a 4CH power supply unit, complete with wiring and 1080P HD quality on-demand recording capabilities. Godrej claims that their home security cameras can be used even for outdoor conditions, the cark park or garden for instance.
While Xiaomi claims to have all of its storage and access via an app and a single camera, Godrej gives you the option of consolidating feeds from multiple rooms and centralizes it offline. In the days to come, many more brands are expected to enter the home security space. Recently, Kent launched a dash cam and car surveillance system, and the brand is expected to offer home security products soon. Exciting times are ahead. Home owners are increasingly burglar-proofing their homes with tech -- creating a new niche in consumer electronics.