Smart Tech Transforming the Home Security Industry

February 18, 2015 Updated: April 23, 2016

Good home security is more affordable and flexible than ever before. What used to be mostly found in only higher-end, expensive homes is being used by people from all walks of life. And more and more companies are investing in innovative, do-it-yourself security and transforming the industry right before our eyes.

For instance, the Wall Street Journal reported that Sequoia dumped nearly $60 million into the home security system called SimpliSafe. An engineer with a Harvard education is behind this system that even police departments use. For less than $300, anyone can have complete, wireless smart home security with no contract, landline or middleman to deal with.

Then there’s Chamberlain’s Notifi camera. A simple, small camera that’s super easy to install. Just screw in the LED light bulb (that comes with it), which is connected to a small camera via a short wire. Whenever it detects motion it’ll snap a picture and send it to you, or if you choose, it can even provide video. Although it isn’t available just yet, it’s supposed to be available soon at a price of $199.

Of course, there are still some very popular month-to-month home security services. For example, there are several companies that offer Protect America security systems. It may come with a monthly price tag, but it’s still affordable, which is one reason it’s so popular. You can get a package for as low as $19.99 per month. Even the higher-end, full-featured package is less than $50 per month. According to these Protect America reviews, it also lets you control things like your lamps and other small appliances.

All of the above are prime examples of the home security industry shifting and finally offering solutions for those who, oddly enough, often need it the most – lower income consumers who live in areas with a higher crime rate and renters. Until recently, they’ve been pretty much ignored, with security systems and services easily running into thousands of dollars. Something many people simply couldn’t afford.

This is somewhat made possible because of smartphones and new technology that make it easier to develop and offer more affordable solutions. NextMarket published its report on how home security solutions are being transformed due to smart technology and being accessible by more people. They also predict that by the year 2020, the DIY home security industry will grow to a $1.5 billion market.

Given, there are those who say the newer DIY security systems simply can’t compare to the more expensive systems that are professionally monitored. But having any level of security is surely better than none at all, right?