This report provides Transforma Insights’ views on the Building Safety & Security market. The Building Safety & Security market is an expanding global opportunity underpinned by increasing adoption in newly constructed buildings and the increasing number of retrofit devices being installed in existing buildings. Growth in the construction industry and increased strategic alliances between construction companies and security vendors are resulting in their high adoption in newly constructed buildings. Growing customer awareness, decreasing cost of security devices, increased fear of crime, ease of installation, and incentives from home insurance companies are factors propelling the growth of retrofit devices in existing buildings. Stringent regulations related to the installation of fire and safety devices are also driving the growth of both new building solutions and retrofit devices. The growth of this market also impacts the growth of other Application Groups such as Building Automation.
This report summarises the status and forecasts from the Building Safety & Security Application Group found in the Transforma Insights Connected Things IoT forecast. The report provides a description of what is covered in the Application Group, as well as top-level figures from the forecast that provide detail on how many connected devices will be installed, the types of communication technology used and the total revenue opportunity. In this Application group we forecast Fire Alarms, Security Alarms and Security Cameras. Full details are accessible through the IoT Forecast tool.
This section of the report bifurcates the Building Safety & Security market into two categories (newly constructed buildings and existing buildings looking for retrofit solutions) and discusses their drivers. It then talks about how Security and Fire Alarm vendors have emphasised strategic alliances with third parties to expand their market presence. For example, ADT has partnered with D.R. Horton to supply security and smart home products for newly constructed homes.
It also considers the new options (like do-it-yourself or professionally monitored systems) that are available for consumers to adopt with new products entering the market and discusses the pros and cons of both these options. It then discusses one of the factors restricting the growth of the security and fire alarm market - the high initial cost required for their implementation; and also touches upon the connectivity technology preferred by these devices. For instance, it talks about why the alarm industry is embracing the availability of LPWA technology and its advantages and disadvantages over other technologies.
This section begins with an explanation of the drivers behind the growth of both connected and unconnected fire alarms (like stringent fire and safety regulations in many countries). It then talks about how various governments are trying to bear the cost of deploying fire alarms and how at times, they face financial difficulties trying to do so at such a scale and pace (like the Scottish government). It also mentions some countries (like Brazil) where the adoption of fire alarms is not a priority and the reasons behind so.
It then talks about the changing connectivity technologies in smoke detectors and their recent features (such as being able to be connected through Wi-Fi networks, linking them into home automation systems or utilising LPWA networks). It also considers one of the major concerns for smoke alarms – dead or empty batteries, (which were responsible for 26% of smoke alarm failures between 2014-2018, as per the US NFPA) and discusses how this issue is being addressed (such as smoke alarms being equipped with features to send a notification when the battery is low). Besides, some of the new advanced features of smoke alarms (like remote monitoring) have also been listed here.
This section also discusses some relevant IoT deployments in this application, like China Unicom running pilot tests to deploy NB-IoT-connected smoke detection and alarm devices in Hangzhou (China).
This section charts the drivers behind the growing adoption of security alarms (like reduction in their cost and insurance policy discounts) and talks about how the Covid-19 pandemic has acted as a catalyst for these devices.
It also takes into account the connectivity technologies that are gaining prominence in these devices, such as NB-IoT and LTE-M. For instance, Sequans Communications and Qastle have released smart alarm controllers enabled with LTE-M and NB-IoT modem components.
Some relevant IoT deployments in this application have also been discussed, like TBC Bank installing GSM/GPRS gateways and communicators to connect its traditional security system to monitoring solutions.
This section begins with the reasons behind the increasing adoption of security cameras, like the decreasing cost of installation of CCTV cameras and the availability of cheaper network connectivity. It also considers the growing adoption of smart automated homes as another driver of security cameras, especially in the Americas and Europe. It also discusses the impact of the Covid-19 pandemic on the market growth, since schools and government institutions (which are among the highest adopters of these solutions) were shut during the pandemic.
It also considers some of the risks associated with them (like security cameras being prone to hacking) which may affect their adoption. This section also discusses some examples of relevant IoT deployments in this application, like Maxwell Air Force Base deploying wireless video cameras to avoid security breaches.
The key vendors section lists some of the main providers of products and services related to the market such as Vivint, ADT Inc., Honeywell (Honeywell Home/Resideo), Johnsons Controls, Hochiki Corporation, NAPCO Security Technologies, Siemens, Arlo Technologies, and Samsung SmartThings. The report provides profiles of the various vendors including aspects most relevant to this Application Group, such as product offerings, pricing, financial results, and technology.
In the market forecasts section, we provide a summary of the forecasts from the Transforma Insights IoT Forecast Database:
The report charts the growth in the number of devices which will grow from 406 million in 2020 to 1.45 billion in 2030.
Transforma Insights forecasts are compiled on a country-by-country basis. This report includes a regional summary, showing splits between Australasia, Greater China, North America, Europe, Japan, Latin America, MENA, Russia & Central Asia, South East Asia, South Korea, India & South Asia, and Sub-Saharan Africa.
Transforma Insights’ IoT forecasts include splits between the various connectivity technologies as follows: 2G, 3G, 4G, 5G mMTC, 5G non-mMTC, LPWA (non-mMTC), Satellite, Short Range, and Other.
This section discusses which technologies will be used in the Building Safety & Security application group.
This part of the report discusses the market growth in terms of revenue (module revenue, service wrap revenue, and VAC revenue). Transforma Insights estimates that the revenue in the Building Safety & Security Application Group will grow at a CAGR of 11%.
