Hybrid Work Mode, 5G Network Spring Up Demand For Smart Security Devices At Homes

Internet of things based security and surveillance devices such as smart locks and video cameras are increasingly getting popular in India. Hybrid work mode and 5G network drive the demand.

Hybrid Work, 5G Increase Demand For Smart Security: Cameras for real-time tracking, smart locks with fingerprints unlock, video doorbells are some of the Internet of Things (IoT)-based security things that are getting popular among homeowners and residential property developers. They are increasingly opting for smart security devices as employees start to return to their offices following the easing of the pandemic.

“There is a growing awareness and need for smart home security devices, especially smart home security cameras, in the Indian market. Despite the economic uncertainty, the smart home security camera market has witnessed 8% YoY (year-on-year) growth in H1 2022,” said Debasish Jana, a market analyst at International Data Corporation (IDC) India.

THESE SMART SECURITY DEVICES ARE GETTING POPULAR

The security devices that are getting increasingly popular include:

• smart cameras for real-time tracking,
• smart locks that can be unlocked with fingerprints,
• smart video doorbells that can let the homeowner use a smartphone app to watch and talk with a visitor using the doorbell’s built-in camera and microphone.

According to IDC, 700,000 smart home security cameras were shipped in India in the first nine months of this year.

HYBRID WORK MODE AND 5G NETWORK SPRINGS UP INTEREST

Industry experts attributed the strong interest in the smart home security segment to the post-covid shift to hybrid work. According to them, many working professionals are using smart cameras and smart doorbells for convenience and also for the safety of the elderly and children at home.

“Over the past year, the smart home security camera market has witnessed an uptick in terms of growth and adoption. Driven by the hybrid working environments, ease of use, availability of smart features, and affordability, the category has witnessed an increasing demand, with consumers looking for an all-around home protection solution,” said Anuj Sharma, chief marketing officer at Xiaomi India.

Though smart cameras are the most sought-after product in the home security segment, smart doorbells and smart locks are also seeing interest. For instance, Godrej Locks has seen the number of residential property developers buying digital locks grow from 18% to 30% of its customer base in the last two years, said Shyam Motwani, business head. “More and more customers are looking for keyless solutions,” he added.

“As fiberization picks up and more homes switch to fiber networks and with the coming of 5G, surveillance is one of the segments that is expected to see a lot of growth,” said Faisal Kawoosa, chief analyst at TechARC, a market research firm.

Ease of installation and easier product availability on e-commerce sites are some of the key growth drivers in this segment.

The expanding market has also brought new security-as-a-service products into the market. A case in point is Airtel’s new home surveillance solution called Xsafe, launched in September, which offers smart cameras along with services such as motion sensing, smart tracking, night vision, and secure cloud storage for an annual subscription fee.