Welcome to Dealers’ Edge, a collection of what caught our eyes this week on the web.
Water Damage by the Numbers
By Water Damage Defense
When you consider the statistics, it becomes clear just how common and devastating a problem water damage can be. According to industry estimates, 14,000 people in the US experience a water damage emergency at home or work each day, and 98% of basements in the US will suffer from some type of water damage during their lifetime.
The costs are just a staggering as the frequency. Water damage and mold cost the insurance industry $2.5 billion dollars per year, and the average cost of a home water damage insurance claim is $6,965.
Three Resolutions for a Changing Security Industry
By Aaron Upham
Over the past years, the security industry has changed and with it emerged new challenges and opportunities. Today, cybersecurity, big data and the Internet of Things (IoT) are key trends that any large organization must address. In the security industry, it is important for organizations to realize these developments and formulate a strategy to meet client and stakeholder needs. Just as people use the new year to set major goals, so too can security leaders use the beginning of 2017 to make a plan to meet the industry’s biggest challenges. Below are a few resolutions that can benefit everyone in the security industry.
Global Smart Home Market Poised to Grow 15% Annually by 2022
The smart home market worldwide is expected to see a double-digit spike in annual growth for the next five years, with revenue reaching $53.45 billion by 2022, according to a new report.
In 2016, the smart home market, which involves automation of every aspect of residential buildings and home appliances, was estimated at $24.1 billion, according to an industry report published by Zion Market Research last week.
SDM 2017 Industry Forecast: Envisioning Change
By Laura Stepanek and Meg Psiharis
If the word “change” isn’t part of your business plan this year, you’d better rethink it. SDM’s 2017 Industry Forecast Study showed that two-thirds (67 percent) of participating security dealers and security integrators increased their total annual revenues in 2016, and their average increase was 16 percent — a sizeable, but not unreachable growth rate. Roughly one-third (32 percent) stayed flat. But one area in which bigger change was substantiated was in recurring monthly revenue (RMR) measured by the study. More than eight in 10 security dealers and security integrators (83 percent) said their RMR rose in 2016 — by as much as 64 percent on average.