NEW YORK, January 7, 2022 /PRNewswire/ —
A Glance at Connected Home Security System Market Facts-
- Total Pages: 120
- Companies: 10+ – Including ADT Inc., Alarm.com Holdings Inc., Alphabet Inc., AT and T Inc., Comcast Corp., Honeywell International Inc., Ooma Inc., Panasonic Corp., Samsung Electronics Co. Ltd., and Verizon Communications Inc.
- Blanket: Main Drivers, Trends and Challenges; Product information and news; Value chain analysis; Parent market analysis; Landscape of vendors; COVID Impact and Recovery Analysis
- segments: Product (cameras and surveillance systems, alarms, locks and sensors and detectors) and Service (professional installation and self-installation)
- Geographies: North America, EuropeACPA, South Americaand MEA
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According to recent Technavio market research, the Connected home security system market size should increase by $13.31 billion from 2020 to 2025, growing at a CAGR of 17.07% during the forecast period. The report provides a detailed analysis of drivers and opportunities, top winning strategies, competitive scenario, future market trends, market size and estimates, and major investment pockets.
North America will register the highest growth rate, occupying 33% of the global market share. The United States and Canada are the main markets for connected home security systems in North America. Market growth in this region will be slower than market growth in APAC and Europe.
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Overview of Suppliers-
The market for connected home security systems is fragmented. Leading vendors hold a larger market share and actively invest in R&D to deliver technologically advanced products. There is also a huge influx of private labels and startups offering DIY connected home security systems.
ADT inc. : The company offers a wide range of home security systems including digital security panels, entry contacts, wireless key fob remote, motion detector and many more.
Alarm.com Holdings Inc.: The company offers smarter home security systems and video surveillance solutions that can be customized and controlled from anywhere.
Alphabet Inc.: The company offers various products including Nest Mini, Nest Hub, Nest Audio and many more under the Google brand.
AT and T Inc.: The company offers smart home security systems that provide professionally monitored home security with home security features.
Comcast Corp. : The company offers a home security service, adding cameras that provide security and automation under the Xfinity brand.
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Regional Market Outlook
The growth of the connected home security systems market in North America will be significant during the forecast period. The growth of the connected home security systems market in North America can be attributed to the growing demand for energy management solutions, the availability of low-cost devices, and the increase in cordless DIY installations.
Download our FREE sample report for more key highlights on the regional market share of most of the countries mentioned above.
Latest drivers and trends driving the market-
- Connected Home Security System Market Driver:
- Cost savings through effective monitoring technology:
Conventional connected home surveillance systems are very expensive, and service providers usually charge equipment fees, installation fees, and monthly maintenance fees. Hence, end users in the market prefer connected home surveillance systems as it helps them in significant cost savings. In addition, control signals sent over wireless GSM devices ensure reliable and faster communication between end users and home security systems. These cost and operational advantages are increasing the adoption of DIY connected home security systems, thereby driving the growth of the market.
- Connected Home Security System Market Trend:
- High growth potential of home cloud solutions:
Home cloud technology has seen substantial growth over the past few years. The market sees an increase of almost 50% in its value each year. The growth can be attributed to the growing adoption of smart home systems across the world, driven by increasing data volumes, especially video. This creates a high demand for storage and remote access, driving the adoption of cloud-based home solutions. All these factors are expected to have a positive impact on the growth of the connected home security system market over the forecast period.
Find additional information on various other market drivers and trends mentioned in our Sample FREE Report.
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Connected Home Security System Market Scope |
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Report cover |
Details |
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Page number |
120 |
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base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum and CAGR |
Accelerate at a CAGR of 17.07% |
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Market Growth 2021-2025 |
$13.31 billion |
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Market structure |
Fragmented |
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Annual growth (%) |
16.20 |
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Regional analysis |
North America, Europe, APAC, South America and MEA |
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Successful market contribution |
North America at 33% |
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Main consumer countries |
United States, Germany, China, United Kingdom and Canada |
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Competitive landscape |
Leading companies, competitive strategies, scope of consumer engagement |
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Profiled companies |
ADT Inc., Alarm.com Holdings Inc., Alphabet Inc., AT and T Inc., Comcast Corp., Honeywell International Inc., Ooma Inc., Panasonic Corp., Samsung Electronics Co. Ltd. and Verizon Communications Inc. |
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Market dynamics |
Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the forecast period. |
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Personalization area |
If our report does not include the data you are looking for, you can contact our analysts and customize the segments. |
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