Abstract
This chapter introduces the topic of Internet of Things (IoT) as a transformational technology for electronic security systems. It also argues that in many respects, commercial and residential security products were precursors to IoT and continue to share many important characteristics of the category. Even so, the rapid drop in cost for IoT devices and the billions of new IoT devices that are expected to be installed in the next 5–10 years make it a force to be contended with in terms of how we think about electronic security systems and the market as a whole. IoT will also help propel the industry because the most frequently cited consumer benefit of IoT in the home is for security applications. Overall, the rise of IoT will increase value for security buyers because the economics of the IoT industry will exert downward cost pressure on security components, even as they become more capable and provide more features.
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