Smart Home Security - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Smart Home Security Market is accounted for $618.63 million in 2017 and is expected to reach $3,223.20 million by 2026 growing at a CAGR of 20.1% during the forecast period. Evolving consumer safety and security preferences, upsurge in the penetration of connected homes, growing high net worth population increasing consolidation of market players across the globe are the major factors fuelling the market growth. However, cost increasing factors such as relying on electricians or other service providers are expected to restrain the growth of the market.
Smart home security uses devices such as linking sensors, features and other appliances connected to the Internet of things (IoT) that can be remotely monitored, controlled or accessed and provide services that respond to the needs of the users. It stands for self-monitoring analysis and reporting technology. The technology was originally developed by IBM and was referred to as predictive failure analysis. It allows users to control and monitor their connected home devices from Smart home apps, smartphones, or other networked devices. Users can remotely control connected home systems whether they are home or away. This allows for more efficient energy and electric use as well as ensuring your home is secure.
Based on application, big villa segment held the maximum market share and a similar trend is expected to be continuing during the forecast period. By Geography, Asia Pacific region is expected to be the largest region with the highest growth during the forecast period due to the increasing adoption of cloud-based technologies and increased awareness of security. Population growth, urbanization, the standard of living, and increased public spending on smart cities will further boost growth in this region.
Some of the key players profiled in the Smart Home Security market include Alphabet, Amazon, Apple, Comcast, FrontPoint Security Solutions, Honeywell, LiveWatch Security, Robert Bosch and Samsung.
• Smart Alarms
• Smart Camera and Monitoring System
• Smart Detectors
• Smart Locks and Sensors
• Alarm System
• Safety & Security System
• Big Villa
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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