Nowadays, people are more scared of technology rather than being scared of other human beings and scary things are deemed as more powerful. Therefore, instead of hiring security guards, they would rather trust POE cameras to secure their residential property.
This great modern invention not only has positive implications for the residents of an apartment building or a house but also for entrepreneurs. A video surveillance company would be soaring in the market these days because of the rising trend of security camera monitoring. Hence we are about to look at two major types of people in the live video monitoring market:
- People who need security
- People who provide security
People Who Need Security
Let us take an example of two people Dave and Drew. Dave never thought that his home could be broken into so he never thought about investing in a security camera service. One day he came back from work and his house was broken into.
The police could not find the culprits as they left no clue and no one saw them. Dave was devastated and regretted his choice of not getting multi-family residential live security surveillance.
Opposed to Dave, Drew knew that the crime rate these days was increasing so it was better to invest in home security cameras which provide best security for apartments. The 24hr security camera that Dave got not only gave him residential security but also gave him access to network multi- family security. Daves’s right decision at the right time saved him from losing his life-time’s savings.
Only true crime watchers know the real importance of security alarms for apartments. If there had been functional wireless cameras in every apartment complex then many people from those true crime documentaries would be walking and breathing among us.
- People who need personal security in their apartment building or multi-family residential units rely on these wireless security cameras for apartment buildings to protect them.
This sort of technology has more power of security guards as nothing misses its eye and it records every bit and piece without stopping. Even the human eye can make mistakes but the camera makes no mistake.
- Besides being useful in preventing theft and vandalism in an apartment building for its residents, it also has much utility for businesses. A business security camera comes in handy when your competitor tries to steal your idea to take away that million dollar deal.
These business security cameras do not require moderating in the existing infrastructure but are also cost friendly.
The real-time footage available can also help the management keep a track of the employees. For businesses, where customers visit daily such as Walmart or Target the chances of a theft occurring are much higher.
Hence, the presence of a security camera without wifi will induce a sense of surveillance over customers and they will think ten times before stealing because they know if they get caught the evidence is there.
Having a sense of security not only makes the employees productive but also plays a vital role in maintaining workplace safety regulations.
- Public security is not only a top priority in maintaining peace but also helps people develop a sense of security and accountability. If people think that someone is watching them then they would act more responsible towards public property.
For instance someone who knows that there is a CCTV camera on the highway would never overspeed because they do not want to get fined. If there is no camera in a public park, people would definitely litter and damage public property because they know they can not be held accountable due to lack of evidence.
The most crucial role played by CCTV cameras in public is in catching and avoiding the hit and run accident perpetrators. Other public places such as hospitals, banks and schools also need such security to uphold the protection agreement of their residents.
Security and monitoring are two different aspects of these security cameras. Security is a term used to indicate that we want to protect our residence or place of work from outside threats.
Such as in banks there is strict security with multiple security cameras and guards and each person who is entering has to be able to register their face in the camera so later if there is any mishap the management can always go back and check. Security is the main purpose of monitoring and setting up the alarms.
Whereas, monitoring can be just for the sake of keeping an eye and making sure if things are going well. That is why many new parents set up baby monitors to check up on their babies from time to time.
Similarly, people who can not afford to hire a nurse for their elderly parents tend to set up a camera for them to monitor their condition from work. Hence the purpose of installing wireless cameras serves different functions for each person.
People Who Provide Security
For people who want to enter the security camera monitoring market, fret not as the market is too big. Over the recent years, the security camera market and businesses have witnessed tremendous growth as the need and concern for security is increasing with the increase in crime rate.
Entrepreneurs can capitalize over these ideas and demands and bring out something completely different to serve different market segments. The market is expanding everyday with the addition in technology especially since the introduction of clog storing, high resolution videos and intelligent video analytics.
There are so many different potential market segments each using the security camera for a different purpose. More or less the actual purpose and functioning of security cameras is the same but to different customers security has different meaning.
All you have to do is to identify your customers and what they are looking for and market them your product in correspondence. Let us list a few different types of markets you can serve:
- Multi- family residential live surveillance
- Network multi – family alarm
- Business security cameras (Office and Retail)
- Public Security Cameras
- Personal security cameras and alarms
- Baby and adult monitoring cameras
These are only a few markets listed as there are many other segments. The alarm comes as a function with the security camera. Once the camera records a breach, it immediately starts making loud noises and informs the concerned authority.
Additionally, the businesses can also earn from the service offerings such as maintenance and installation.Secondary services along with core product serves as the main source of earning for many businesses in this field.
The businesses can also play into the public private partnership (PPP) with governments for their smart city initiatives. A smart city is an urban area which uses technological enhancements to make life more efficient and productive for its residents. The quality of services in these cities is unmatched and it plays an important role in the welfare of its citizens.
Businesses can collaborate with governments and provide integrated security systems in the infrastructure of the smart city and play a vital role in maintaining and regulating the efficient functioning of the city.
Ultimately, it all comes down to the level of trust your customers have on you. People value their security regardless of where they are present. If they feel that they are not comfortable because their private information is not safe because of 24/7 monitoring, they will definitely resort to other solutions. Especially the businesses that provide apartment complex security cameras, apartment real-time surveillance, and residential live camera monitoring.
Since such businesses are closer to the private space of customers, it is more important for them to maintain the privacy regulations and tell their customers that their information is safe with the company, especially these days when the threat of cyber crime is even greater than before.
In essence, the security camera or the live video surveillance market is composed of many different actors. Much of the growth and trends in the market depend upon the needs of these actors and changing technology.
People use these security cameras for many different purposes and for businesses to succeed in this industry it is important to determine what exactly their customers want and how they can provide it with changing demands.
Importance of security cameras can not be denied but it also comes with its own dangers. Hence, businesses should always prioritize customer safety and privacy.
