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Connected Home Security Systems Market By Product Type (Locks and Sensors, Detectors, Alarms, and Cameras and Monitoring Systems), By Connectivity Type (Wi-Fi, Bluetooth, RFID/NFC, and Others), By End-user (Condominiums and Apartments, and Independent Homes) - Growth, Future Prospects and Competitive Landscape, 2018 – 2026

The global connected home security system market is expected to reach US$ 32.5 billion by 2026, growing at a 15.3% CAGR from 2018 to 2026. Connected security systems are a useful addition in homes where safety is an important concern. The rear of home security has witnessed some drastic changes in the recent past and will continue to advance much more in the years to come.

In the past few years, there has been unprecedented growth in the number of devices connected to the internet. All these internet-connected devices form a part of the IoT infrastructure, which allows them to send and receive data among themselves. As a result, the rising need for seamless connectivity and the proliferation of remote monitoring have aided the growth of the connected home security systems market worldwide.

Rising fears about security in residential areas, coupled with increasing consumer familiarity with smart devices and the potential solutions they provide, have prompted several homeowners to invest in advanced security measures. The connected home security systems provide a wide range of features to alert owners and prevent harm via emergency notifications. These systems are equipped mainly with cameras, alarms, monitoring devices, locks, detectors, and sensors to meet the needs of any unwanted activities such as theft or burglary.

Given the enhanced capabilities of connected home security systems, devices with multiple features are encouraging their adoption across a wider range of consumer demographics. This, in turn, is expected to facilitate the growth of the global market for connected home security systems worldwide during the forecast period from 2018 to 2026.

Market Snapshot

Cameras and monitoring systems accounted for the largest market share in 2017.

Based on product type, cameras and monitoring systems demonstrated the largest market share in the global connected home security system market in 2017. The segment is expected to grow at a substantial rate in the years to come. Cameras and monitoring systems are the most popular home security products. Increasing incidents of house robbery and theft are encouraging house owners to invest in enhanced safety and security solutions with efficient and effective cameras and monitoring systems. As a result, widespread adoption of these products is supplementing its growth in the connected home security system market.

North America garnered the largest market share in 2017.

North America garnered the largest market share in the connected home security system market in 2017 and is projected to grow significantly throughout the forecast period from 2018 to 2026. The rising need for security and energy management solutions is boosting the growth of connected home security systems in the region.

Moreover, the high adoption of wireless home security installations coupled with the availability of low-cost security and monitoring devices is facilitating the market growth. The U.S. is expected to remain dominant in the region owing to the high acceptance of technologically advanced products.

Competitive Insights

Major players in the connected home security system market include ADT Inc., Tyco Security Products, Alarm.com Holdings, Inc., August Home, Ooma, Inc., Canary Connect, Inc., Cocoon Labs Ltd., Control4 Corporation, Frontpoint Security Solutions, G4S plc, Honeywell International, Inc., Comcast Corporation, Kuna Systems, Kwikset, Nest Labs, Panasonic Corporation, Protect America, Inc., Samsung, SimpliSafe, Vivint, Inc., Vivint, Inc., Vivint, Inc., Vivint, Inc., Vivint, Inc., Vivint, Inc.

The prominent players present in the connected home security systems market are focusing on adopting strategies like partnerships and new product development to obtain an upper hand and stay ahead in the market.

For instance, in February 2018, Vodafone Group entered into a strategic partnership with Samsung for the launch of Smart Home Services. Vodafone announced that it would become Samsung's exclusive telecom partner in selected European markets. The partnership is established to launch and develop a range of consumer Internet of Things (IoT) smart home products and services that will offer consumers simple yet powerful home automation, safety, and security products and services.

Periods of History and Forecast

The research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The connected home security system market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global connected home security systems market based on product type, connectivity type, end-user, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

  • What was the market size of connected home security systems in 2017, and what is the forecast up to 2026?
  • What are the key factors driving the global market for connected home security systems?
  • What are the key market trends and high-growth opportunities observed in the connected home security system market?
  • What are the drivers of the connected home security system market?
  • Which is the largest regional market for connected home security systems?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market's growth? Why?
  • Which players are leading the connected home security system market?
  • What are the sustainability strategies adopted by the key players operating in the market?

Frequently Asked Question:

The market for Connected Home Security Systems Market is expected to reach USD$ 32.5 Bn in 2026.

The Connected Home Security Systems Market is expected to see significant CAGR growth over the coming years, at 15.3%.

The report is forecasted from 2018 -2026.

The base year of this report is 2017.

ADT Inc., Tyco Security Products, Alarm.com Holdings, Inc., August Home, Ooma, Inc. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Jan 2019
Category:  Technology & Media
Report ID:   59533
Report Format:   PDF
Pages:   120
Rating:    4.4 (56)
Delivery Time: 24 Hours to 48 Hours   
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