Connected Home Security Device Market Is Anticipated To Attain USD 7.90 Billion By 2021

04-Oct-2018 | Zion Market Research

The key players within the worldwide connected home security device market consist of Tyco, Hager Group Daitem Atral E-Nova, UTC/Interlogix, GE, Essence, Apple, Honeywell Google Nest, Paradox, Samsung, RISCO Group, and Philips Hue, among others. According to the report, the worldwide connected home security device market was accounted at about USD 2.50 Billion in 2015 and is anticipated to attain around USD 7.90 Billion in 2021, developing at a CAGR of slightly over 18.3% between 2016 and 2021.

Connected home has the ability to improvise a system of networked devices to correspond with each other and acknowledge remote commands that make human life simpler. The blend of technological advancements, huge ICT players getting into the market and the extensive accessibility of smartphones allow the connected home services to infiltrate further in the market concurrently with the security devices for connected home.

Browse the full "Connected Home Security Device Market by Type (Detection Devices, Sensors, Security Camera, Door Locks, Access Control and Others): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/connected-home-security-device-market

Increasing espousal of IoT to boost the growth of connected home security device market

The swiftly elevated smartphone saturation, trends toward the implementation of the Internet of Thing (IoT), the noteworthy decrease in hardware price are the few of the key factors anticipated to drive the growth of the connected home security device market in years to come.

Furthermore, smartphone-friendly and well-designed applications for operating security device system is projected to add to the market growth. Additionally, the rise in the stipulation for home cloud technology coupled with the surfacing of new participants with innovative technology and product differentiation are also anticipated to fuel the growth of the connected home security device market in the near future.

Nevertheless, the dearth of wakefulness among the population may hamper the development of the connected home security device market. However, technological advancement is anticipated to draw the enormous untapped region and probably to open new avenues for the connected home security device market.

Global Connected Home Security Device Market

Decreased hardware cost to fuel door locks and security camera type segment of the market

Door locks and security camera type segment collectively dominated the connected home security device market’s type segment in 2015 on account of decreased hardware price together with smartphone-friendly mobile applications. Furthermore, the sensor availability with innovative technology such as accelerometer sensors and motion sensor is projected to impel the growth of sensor segment of the connected home security device market.

High rate of technology adoption to drive the growth of connected home security device market in North America

In 2015, North America was the biggest market for the connected home security device market. The development in this region is majorly attributed to the high adoption rate of technology together with better customer wakefulness. Europe is anticipated to be among the rapidly developing regions in the near future. Also, the increasing disposable income in nations such as Japan, South Korea, and China is anticipated to observe significant growth in Asia Pacific region over the coming years.

In early September 2018, Kangaroo, a New York-based startup, is seeking to introduce its finance-friendly, internet-connected motion sensors with a bid to make users’ secure and safe, which is likely to boost the growth of the connected home security device market in the coming period.

The report segments the connected home security device market is as follows:

By Type

  • Detection devices
  • Sensors
  • Security camera
  • Door locks
  • Access control
  • Others

By Region

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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