WHIRC would like to thank all our customers, dealers, manufacturers and peers that attended this year's Partner Symposium at Mystic Lake Center on May 17. If you weren't there, you missed a full day of networking and learning with engaging product information and trends. This year's guest speakers represented LogicMark, Interlogix, Honeywell, OneTel Security and Alarm Products Distributors.
Our five-person Dealer Panel gave guests the opportunity to discuss issues they are having with their own businesses and our panel of industry peers offered strategies to overcome them. Guest speaker Aaron Hunnel inspired the audience when he talked about turning obstacles into opportunities.
For those who attended, we hope you enjoyed the symposium and took advantage of the many networking opportunities it provided. We were happy to once again provide this free educational opportunity for our customers and industry friends. If you missed the fun this year, we hope to see you there in 2019!
Along with installation questions, marketing questions and other important parts of the business, our dealer panel and manufacturers also touched on video monitoring offerings. Within the next 7 years, the IP Security Camera Market is set to grow at more than 20 percent compound annual growth. Camera technology only continues to evolve including more analytics capabilities to better identify the event, which is a signal from the video system. The signal is triggered by motion, line crossing, or additional analytics that are set in the recorder.
This security camera trend only seems to be picking up momentum and offers increasing opportunities for recurring monthly revenue (RMR), which is exciting news for our dealers.
WHIRC is prepared to monitor all alerts that are sent from any type of system including a video recorder. WHIRC provides multiple video integrations and a Universal Connector that is able to be programmed to turn any simple message into an alarm. We currently work with multiple authorities to assist them with identifying locations, images and landmarks. When a customer's camera identifies an event and sends a signal to WHIRC, our agent's use the customized alarm handling instructions of the event to properly handle the alarm or signal.
We hope to see you next year at our 2019 Partner Symposium!