November 11, 2019
According to the latest study titled ‘Global Smart Home Security Market: Analysis By Product Type (Smart Alarms, Smart Camera and Monitoring System, Smart Locks and Sensors, Smart Detectors), By Region, By Country (2019 Edition), Forecast to 2023: By Region (North America, Europe, Asia-Pacific, ROW), By Country (U.S., Canada, UK, Germany, Spain, France, India, China, Japan, South Korea)’ available with Market Study Report LLC, the global smart home security market is estimated to grow with a CAGR of 15.56% during the period of 2018-2023.
Rise in adoption of smart home security solutions is mainly due to increase in property related crime and other criminal activities. Rising concerns regarding safety, coupled with availability of easy to install DIY home security solutions are boosting the market growth. In addition, surging population and increasing incorporation of connected homes are further propelling the expansion of smart home security market.
The report encompasses details SWOT analysis and Porter Five Force analysis undertaken to study the competitive landscape of smart home security market. Information about the pricing trends followed by market players, alongside the revenue shares for each segment is encompassed. It also provides a comprehensive insight about the market dynamics.
Based on product type, the smart home security market is segmented into smart camera & monitoring system, smart alarms, smart detectors, and smart locks & sensors. As per the report, smart cameras & monitoring system is presumed register significant growth over analysis timeline, on account of shifting consumer preference for safety and higher disposable income.
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Considering the geographical landscape, the smart home security market is fragmented into regions including Europe, North America, APAC, and rest of the world, with key focus on countries like, South Korea, Canada, U.K, Spain, Germany, France, India, China, Japan, and U.S. North America held substantial share in smart home security market in 2018, owing to the emergence of IoT and increasing tech savvy population in the region, claims the report.
The key players of smart home security market are Vivint Smart Home Security, ADT Corporation, Honeywell International, SimpliSafe, Hangzhou Hikvision Digital Technology, Robert Bosch, Frontpoint Security Solutions, Ring, Protect America, and Samsung.
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