Connected Home Security System Market size to Grow by USD 13.31 billion | | Technavio
NEW YORK, April 8, 2022 /PRNewswire/ -- Connected Home Security System Market Facts at a Glance-
NEW YORK, April 8, 2022 /PRNewswire/ -- Connected Home Security System Market Facts at a Glance-
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According to the recent market study by Technavio, Connected Home Security System Market share is expected to increase by USD 13.31 billion from 2020 to 2025, with an accelerated CAGR of 17.07%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
Vendor Insights-
The connected home security system market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The key offerings of some of the vendors are listed below:
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Regional Market Outlook
The connected home security system market share growth in North America will be significant during the forecast period. The US and Canada are the key markets in the region. Market growth in North America will be faster than the growth of the market in South America and MEA. The need for energy management solutions, availability of low-cost devices, and wireless DIY installations will drive the connected home security system market growth in North America during the forecast period.
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share of most of the above-mentioned countries.
Latest Drivers & Trends in the Market-
Smart homes generally incorporate different automatic systems, including motion and window sensors, thermostats, light controls, and door lock controls that receive remote control signals and act upon them. Insurance providers offer discounts on home insurance to people who have installed a monitored security system. These discounts are sufficient to cover the monitoring and installation costs of a connected home security system.
Home-based cloud solutions provide benefits despite data management concerns. The increasing amount of data, including video, is responsible for the growing need for remote storage and access. The home-based cloud technology market has been witnessing an upsurge of close to 50% growth every year.
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Connected Home Security System Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.07% |
Market growth 2021-2025 |
USD 13.31 billion |
Market structure |
Fragmented |
YoY growth (%) |
16.20 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 33% |
Key consumer countries |
US, Germany, China, UK, and Canada |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Service
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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SOURCE Technavio
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