Remote Home Monitoring Systems Market
Remote Home Monitoring Systems Market Forecasts to 2030 - Global Analysis By Product (Security Cameras, Detectors, DIY Home Security, Sensors, Security Solutions, Electronic and Smart Locks, Alarms and Other Products), Sensor Type, Operating System, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Remote Home Monitoring Systems Market is accounted for $6.2 billion in 2024 and is expected to reach $19.2 billion by 2030 growing at a CAGR of 20.6% during the forecast period. A remote home monitoring system refers to a network of devices and technologies designed to monitor various aspects of a home from a distance. These systems typically utilize sensors, cameras, and other connected devices to gather data about the home's environment, security, and overall condition. The data collected is then transmitted to a central hub or cloud-based platform where it can be accessed and monitored remotely by homeowners or authorized users.
According to the Center for Medicare and Medicaid Services in 2021, remote monitors help several high-risk patients avoid being readmitted to the hospital and make the most of their healthy days at home. Clients who use remote monitoring report a 76% reduction in readmission rates, an average of 89% patient satisfaction, and a total medical cost savings of nearly USD 370 million.
Market Dynamics:
Driver:
Rising burden of chronic diseases
The market faces a rising burden due to the increasing prevalence of chronic diseases. This trend is driven by factors such as aging populations, lifestyle changes, and advancements in healthcare technology. As more individuals require long-term monitoring and management of conditions like diabetes, hypertension, and heart disease, the demand for remote monitoring solutions continues to grow, creating opportunities and challenges for healthcare providers and technology developers alike.
Restraint:
Privacy and security concerns
The market faces significant challenges related to privacy and security concerns. As these systems gather sensitive data about individuals' activities and environments, ensuring robust encryption, secure data storage, and protection against hacking attempts is paramount. Additionally, issues such as unauthorized access to live feeds or stored footage raise ethical and legal questions. Balancing the convenience of remote monitoring with stringent privacy safeguards remains a key challenge for stakeholders in this market.
Opportunity:
Demand for home-based care
The demand for home-based care within the market is experiencing a significant upsurge. This trend is driven by the growing preference for personalized healthcare solutions, especially among aging populations and individuals with chronic conditions. The convenience, cost-effectiveness, and ability to provide real-time health data remotely are key factors fueling this demand. As healthcare continues to prioritize patient-centric approaches, the demand for the market is projected to continue its upward trajectory.
Threat:
Lack of reimbursement
Despite the growing importance and adoption of these systems for remote patient monitoring and healthcare management, many healthcare systems and insurance providers do not have clear policies or incentives for reimbursing the costs associated with these technologies. This can hinder widespread adoption and investment in remote home monitoring systems, creating a barrier to their full potential in improving healthcare outcomes.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the Remote Home Monitoring Systems market, driving a surge in demand as people sought ways to monitor health remotely and reduce physical contact. This led to increased adoption of telemedicine solutions, wearable devices, and smart home technologies. The market experienced rapid growth, with a focus on features like real-time monitoring, data analytics, and seamless connectivity. The pandemic acted as a catalyst, accelerating the evolution of remote healthcare and driving innovation in monitoring systems.
The glass sensors segment is expected to be the largest during the forecast period
The glass sensors is expected to be the largest during the forecast period. These sensors detect any tampering or breakage of glass doors or windows, triggering immediate alerts to homeowners or security services. With the increasing emphasis on home automation and security, the demand for advanced glass sensors is escalating. They contribute significantly to creating a robust and proactive security framework, enhancing the overall efficiency of remote monitoring systems.
The cancer treatment segment is expected to have the highest CAGR during the forecast period
The cancer treatment segment is expected to have the highest CAGR during the forecast period. These systems enable real-time tracking of vital signs, medication adherence, and symptom management from the comfort of home. They facilitate early detection of complications, promote personalized treatment plans, and enhance patient engagement through teleconsultations. With advanced technologies like AI and IoT, these systems offer continuous monitoring, improving treatment outcomes, reducing hospital visits, and enhancing the overall quality of life for cancer patients.
Region with largest share:
North America is projected to hold the largest market share during the forecast period due to increased demand for smart home solutions. This trend is driven by factors such as rising awareness of home security, advancements in IoT technology, and the convenience offered by remote monitoring. Key players in the market are focusing on developing innovative products with enhanced features like real-time alerts, video surveillance, and home automation integration.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. The market has witnessed significant technological advancements, especially in areas such as video surveillance, motion detection, and remote access control. Integration with smartphones and other smart devices has made it easier for homeowners to monitor their properties remotely. Some countries in the region have introduced initiatives to promote home security and smart home technologies.
Key players in the market
Some of the key players in Remote Home Monitoring Systems market include Bosch Security Systems, Inc, Schneider Electric S.E., Samsung Electronics Co. Ltd, Visonic Limited, Siemens Corporation, Tyco International Ltd, Nortek Security & Control, LLC., Control4 Corporation, Apple Inc., Google Inc., IBM Corporation, SimpliSafe, Inc., General Electric Company, LOREX Technology Inc., Honeywell International Inc., Ooma, Inc. and Philips.
Key Developments:
In January, 2024, Apollo Hospital a renowned multi-specialty hospital in India, announced a ground-breaking alliance with LifeSigns, a premier AI-powered health monitoring technology firm.
In May 2023, Philips launched Virtual Care Management, a comprehensive portfolio of flexible solutions and services health systems, providers, payers, and employers to motivate and engage with patients from anywhere.
Products Covered:
• Security Cameras
• Detectors
• DIY Home Security
• Sensors
• Security Solutions
• Electronic and Smart Locks
• Alarms
• Other Products
Sensor Types Covered:
• Glass Sensors
• Door Sensors
• Environmental Sensors
• Motion Sensors
• Water Sensors
• Other Sensor Types
Operating Systems Covered:
• Android
• iOS
• Windows
Technologies Covered:
• Wireless Systems
• Wired Systems
• Hybrid Systems
• Cloud-Based
Applications Covered:
• Diabetes
• Cancer Treatment
• Cardiovascular Diseases
• Weight Management
• Sleep Disorders
• Other Applications
End Users Covered:
• Hospitals/Clinics
• Home Care Settings
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Remote Home Monitoring Systems Market, By Product
5.1 Introduction
5.2 Security Cameras
5.3 Detectors
5.4 DIY Home Security
5.5 Sensors
5.6 Security Solutions
5.7 Electronic and Smart Locks
5.8 Alarms
5.9 Other Products
6 Global Remote Home Monitoring Systems Market, By Sensor Type
6.1 Introduction
6.2 Glass Sensors
6.3 Door Sensors
6.4 Environmental Sensors
6.5 Motion Sensors
6.6 Water Sensors
6.7 Other Sensor Types
7 Global Remote Home Monitoring Systems Market, By Operating System
7.1 Introduction
7.2 Android
7.3 iOS
7.4 Windows
8 Global Remote Home Monitoring Systems Market, By Technology
8.1 Introduction
8.2 Wireless Systems
8.3 Wired Systems
8.4 Hybrid Systems
8.5 Cloud-Based
9 Global Remote Home Monitoring Systems Market, By Application
9.1 Introduction
9.2 Diabetes
9.3 Cancer Treatment
9.4 Cardiovascular Diseases
9.5 Weight Management
9.6 Sleep Disorders
9.7 Other Applications
10 Global Remote Home Monitoring Systems Market, By End User
10.1 Introduction
10.2 Hospitals/Clinics
10.3 Home Care Settings
10.4 Other End Users
11 Global Remote Home Monitoring Systems Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Bosch Security Systems, Inc
13.2 Schneider Electric S.E.
13.3 Samsung Electronics Co. Ltd
13.4 Visonic Limited
13.5 Siemens Corporation
13.6 Tyco International Ltd
13.7 Nortek Security & Control, LLC.
13.8 Control4 Corporation
13.9 Apple Inc.
13.10 Google Inc.
13.11 IBM Corporation
13.12 SimpliSafe, Inc.
13.13 General Electric Company
13.14 LOREX Technology Inc.
13.15 Honeywell International Inc.
13.16 Ooma, Inc.
13.17 Philips
List of Tables
1 Global Remote Home Monitoring Systems Market Outlook, By Region (2022-2030) ($MN)
2 Global Remote Home Monitoring Systems Market Outlook, By Product (2022-2030) ($MN)
3 Global Remote Home Monitoring Systems Market Outlook, By Security Cameras (2022-2030) ($MN)
4 Global Remote Home Monitoring Systems Market Outlook, By Detectors (2022-2030) ($MN)
5 Global Remote Home Monitoring Systems Market Outlook, By DIY Home Security (2022-2030) ($MN)
6 Global Remote Home Monitoring Systems Market Outlook, By Sensors (2022-2030) ($MN)
7 Global Remote Home Monitoring Systems Market Outlook, By Security Solutions (2022-2030) ($MN)
8 Global Remote Home Monitoring Systems Market Outlook, By Electronic and Smart Locks (2022-2030) ($MN)
9 Global Remote Home Monitoring Systems Market Outlook, By Alarms (2022-2030) ($MN)
10 Global Remote Home Monitoring Systems Market Outlook, By Other Products (2022-2030) ($MN)
11 Global Remote Home Monitoring Systems Market Outlook, By Sensor Type (2022-2030) ($MN)
12 Global Remote Home Monitoring Systems Market Outlook, By Glass Sensors (2022-2030) ($MN)
13 Global Remote Home Monitoring Systems Market Outlook, By Door Sensors (2022-2030) ($MN)
14 Global Remote Home Monitoring Systems Market Outlook, By Environmental Sensors (2022-2030) ($MN)
15 Global Remote Home Monitoring Systems Market Outlook, By Motion Sensors (2022-2030) ($MN)
16 Global Remote Home Monitoring Systems Market Outlook, By Water Sensors (2022-2030) ($MN)
17 Global Remote Home Monitoring Systems Market Outlook, By Other Sensor Types (2022-2030) ($MN)
18 Global Remote Home Monitoring Systems Market Outlook, By Operating System (2022-2030) ($MN)
19 Global Remote Home Monitoring Systems Market Outlook, By Android (2022-2030) ($MN)
20 Global Remote Home Monitoring Systems Market Outlook, By iOS (2022-2030) ($MN)
21 Global Remote Home Monitoring Systems Market Outlook, By Windows (2022-2030) ($MN)
22 Global Remote Home Monitoring Systems Market Outlook, By Technology (2022-2030) ($MN)
23 Global Remote Home Monitoring Systems Market Outlook, By Wireless Systems (2022-2030) ($MN)
24 Global Remote Home Monitoring Systems Market Outlook, By Wired Systems (2022-2030) ($MN)
25 Global Remote Home Monitoring Systems Market Outlook, By Hybrid Systems (2022-2030) ($MN)
26 Global Remote Home Monitoring Systems Market Outlook, By Cloud-Based (2022-2030) ($MN)
27 Global Remote Home Monitoring Systems Market Outlook, By Application (2022-2030) ($MN)
28 Global Remote Home Monitoring Systems Market Outlook, By Diabetes (2022-2030) ($MN)
29 Global Remote Home Monitoring Systems Market Outlook, By Cancer Treatment (2022-2030) ($MN)
30 Global Remote Home Monitoring Systems Market Outlook, By Cardiovascular Diseases (2022-2030) ($MN)
31 Global Remote Home Monitoring Systems Market Outlook, By Weight Management (2022-2030) ($MN)
32 Global Remote Home Monitoring Systems Market Outlook, By Sleep Disorders (2022-2030) ($MN)
33 Global Remote Home Monitoring Systems Market Outlook, By Other Applications (2022-2030) ($MN)
34 Global Remote Home Monitoring Systems Market Outlook, By End User (2022-2030) ($MN)
35 Global Remote Home Monitoring Systems Market Outlook, By Hospitals/Clinics (2022-2030) ($MN)
36 Global Remote Home Monitoring Systems Market Outlook, By Home Care Settings (2022-2030) ($MN)
37 Global Remote Home Monitoring Systems Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We offer complimentary customization of up to 15% with every purchase. To share your customization requirements, feel free to email us at info@strategymrc.com or call us on +1-301-202-5929. .
Please Note: Customization within the 15% threshold is entirely free of charge. If your request exceeds this limit, we will conduct a feasibility assessment. Following that, a detailed quote and timeline will be provided.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
