Global connected home security device market expected to reach USD 7.90 billion in 2021, growing at a CAGR of 18.3% between 2016 and 2021.
The report analyzes and forecast connected home security device market on a global and regional level. The study offers past data of 2015 along with forecast from 2016 to 2021 based on revenue (USD Billion). Assessment of market dynamics gives a broad thought about the drivers and restraints for the connected home security device market along with the impact they have on the demand over the coming years. Furthermore, the report includes the study of opportunities available in the connected home security device market on a global level.
The report gives a transparent view of the connected home security device market. We have included a detailed competitive scenario and portfolio of prominent vendor’s operative in connected home security device market. To understand the competitive landscape of connected home security device market, an analysis of Porter’s Five Forces model for the market has also been included. The reported offer market attractiveness analysis, wherein type and regional segments are benchmarked based on their general attractiveness, market size, and growth rate.
The study provides a crucial view of the connected home security device by segmenting the market based on type and region. All the type segments of connected home security device market have been analyzed based on current and upcoming trends and the market is estimated from 2015 to 2021. Type segments include detection devices, sensors, security camera, door locks, access control and others. The regional segmentation comprises of present and forecast demand in Asia-Pacific, Middle East & Africa, North America, Europe, and Latin America for connected home security device market.
The competitive profiling of major player of connected home security device market includes company and financial overview, business strategies, recent developments and product offered by them which can help in assessing competition in the market. Major participants in the connected home security device space include Essence, UTC / Interlogix , Tyco , GE, Honeywell, samsung, Apple , RISCO Group , Paradox , Philips Hue, Hager Group Daitem Atral E-Nova and Google Nest amongst others.
The report segment of global connected home security device market is as follows:
Global Connected Home Security Device Market: Type Segment Analysis
Global Connected Home Security Device Market: Regional Segment Analysis
A connected home is one in which different devices work interactively and information relevant to the residents/owner is accessed via high-speed broadband network. A connected home creates a local area network (LAN) throughout entire house, cable hookups, bringing multiple telephone jacks and standard outlets to every room in home. Technology has become increasingly sophisticated and growing demand for easy accessibility for connected homes is making market more attractive. Increasing demand of connected home fuel the demand for various security devices for connected home.
Advancement in wireless standards, rapidly increased smartphone penetration and reduced hardware cost are the factors expected to boost the demand of security system for connected home in coming years. In addition, availability of well-positioned apps for operating different systems coupled with constant advent of new product with innovative technology is expected to fuel the growth of security devices for connected home market in forecast period. Furthermore, increase in the demand for home cloud technology is expected to impel the market potential for security device for connected home market. However, lack of awareness is expected to have adverse impact on growth of market in coming years. Nonetheless, technological advancement is expected to attract huge untapped area and likely to open new doors for the connected home security device market.
Based on type, the global connected home security device market is bifurcated into detection devices, sensors, security camera, door locks, access control and others. Security camera and door lock were two major leading segment of the global connected home security device market in terms of demand 2015. This segment is expected to continue its dominance for forecast period due to reduced hardware cost.
North America was the largest market for connected home security devices due to the high technology adoption rate paired with better consumer awareness. Rising disposal income in countries like China, Japan and South Korea is projected to witness considerable growth over the forecast period in Asia Pacific region. Europe is expected to be one of the fastest growing regions in coming year. Western Europe is expected to experience significant growth for connected home security device market in coming years. Countries like South Africa, U.A.E., Saudi Arabia will show noteworthy growth in Middle East and Africa region.
The key players operative in the global connected home security device market includes Essence, UTC / Interlogix , Tyco , GE, Honeywell, Hager Group Daitem Atral E-Nova, Google Nest , Apple , RISCO Group , Paradox , Philips Hue and Samsung amongst others.