One of the biggest booming industries in recent years is that of home security, due to advancements in the technology of home monitoring systems, wireless systems and the simplicity of installation-and the fact that just about everyone has a smartphone that can communicate with a home security system. Nevertheless, most people do not have a home security system, and many people finally decide to get one only after they've been burglarized.
Thanks to technology that allows people to monitor their homes, and control various settings inside and outside via their smartphones, the telecommunications industry has become entrenched in the home security arena. And the traditional home security companies have ventured into smartphone technology to support their systems.
But the telecom/cable industries have only taken a nibble out of the market from the traditional security companies: The Electronic Security Association says that 85 percent of homes that have a security system also have accounts with a traditional security company.
In fact, telecom companies fall below cable companies as far as how much of the market they have: Cable has 2.5 percent and telecom has 1.2 percent. The remainder is made up of do-it-yourself systems.
What's interesting about the telecom/cable industries is that you can "bundle" services. Bundling used to refer to combining the cable with the landline phone service. Now, it can also include a complete home security system.
Some people will want to get a security system through their telecom carrier due to the perceived convenience. But if you've had some issues in the past with your telecom carrier...you're probably not going to be inclined to use it to protect your house. And the goofy telecom/cable commercials we see each company poking fun at each other doesn't help with their credibility in the security market now does it?
Perhaps the reason that most homes with security systems have an account with a traditional company is because, from the customer's point of view, nothing beats the good old-fashioned company that specializes in security-going back decades-and with that comes a considerable call center with 24-hour-a-day, seven-day-per-week monitoring.