Smart Home Security Market Outlook: Forecasting Trends for 2019-2029

Smart Home Security Market Outlook: Forecasting Trends for 2019-2029

April 11, 2024

According to TechSci Research report, “Global Smart Home Security Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”. Global Smart Home Security is anticipated to project robust growth in the forecast period with a CAGR of 13.72% through 2029. The country's smart home security market has a strong foundation thanks to the introduction of IoT and supportive policies. According to GSMA projections, China is expected to have approximately 4.1 billion IoT connections by 2025, which represents approximately one-third of all IoT connections globally. Furthermore, initiatives like the Smart Cities Projects, the National New-type Urbanization Plan, and the Made in China 2025 strategy are expected to propel the expansion of China's smart home security market. The majority of Chinese vendors and businesses fight with one another to maintain their market dominance as the demand for AI-powered security camera installations in homes rises dramatically. These cameras provide homeowners with enhanced security features like timely alerts for intruders or notifications when their loved ones return home.

Around 49% of Australians now own some type of smart home technology, according to a study by Bunning's, a well-known retailer of outdoor living products in Australia and New Zealand. Smart home technology is growing in Australia. The company's study also found that general security (61%) and protection against intruders (44%) are the main factors driving uptake of smart home technology, which is used daily by 1 in 2 Australians. The biggest innovation in the market is security camera systems; according to Bunning's study, most Australians will install a security device in their home within the next five years.

Browse over xx market data Figures spread through 188 Pages and an in-depth TOC on the “Global Smart Home Security Market.”

Based on the End User Industry, Smart Camera and Monitoring is expected to hold the largest share of the Smart Home Security market during the forecast period, The market for surveillance systems has grown significantly in recent years. Many homeowners and residential societies use these systems to keep an eye on a variety of activities for their security and safety. Advanced intelligent surveillance systems (AISS) are gradually replacing conventional surveillance systems. The latter looks for unusual patterns and behavior using artificial intelligence, computer vision, and pattern recognition technologies.

Consequently, this enables a limited group of observers to accurately monitor several scenarios. Third-generation systems with improved processing power and compression algorithms have been developed as a result of the market shift for video surveillance systems brought about by the recent switch from traditional analog to IP video. Furthermore, the development and application of smart home monitoring systems make use of cutting-edge technologies like the Internet of Things (IoT). The growing use of IoT makes many features possible, including electric control, environmental monitoring, indoor monitoring, anomalous alarm, historical information query, and many more.

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The use of IP cameras has increased recently as a result of the growing demand for perimeter security and high-quality image resolution. Among the critical technologies that are being adopted globally are CCTVs, command and control, private LTE communications, data storage, ANPR (automatic number plate recognition), video analytics, and auxiliary ICT equipment. These technologies have facilitated the adoption of smart camera and monitoring systems. North America will hold the biggest market share, based on market share. Due to the growing popularity of smart home technology and products, the US market is the largest in the region. According to a National Council for Higher Education study, over three-quarters of Americans think that having a smart home primarily benefits them in terms of security.

The increasing demand from households for smart locks as a part of home control or security systems is causing companies in the market to form alliances. For instance, security, automation, and smart home solutions provider ADT and multinational technology company Intrado announced a collaboration. By leveraging Intrado's Emergency Data Broker, ADT will be able to use the partnership to give first responders and 911 centers additional information at any time during the alarm response process. In addition, according to New-Gen Apps, "The implementation of smart homes and sensors alone allowed the United States of America to save 20% on household consumption and conserve energy."

 Key market players in the Global Smart Home Security Market are following: -

  • ADT Inc.
  • Honeywell International Inc.
  • Johnson Controls International PLC
  • Hangzhou Hikvision Digital Technology Co. Ltd
  • Abode Systems Inc.
  • Frontpoint Security Solutions LLC
  • Vivint Smart Home Inc.
  • Simplisafe Inc.
  • Zmodo Technology Corporation Ltd
  • Ring LLC ( Inc.)    


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 “The global Smart Home Security market is driven by several key factors. Rising concerns about home security due to increasing crime rates, coupled with advancements in technology, have made smart security systems more accessible and attractive to consumers. Enhanced connectivity, convenience, and remote monitoring, alongside cost savings, have boosted adoption. Moreover, government initiatives, insurance incentives, and environmental awareness further propel the market. As awareness grows and technological innovation continues, the Smart Home Security market is positioned for continued expansion.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Smart Home Security Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented Component (Hardware, Software, Services), Device Type (Smart Alarms, Smart Locks, Smart Sensors and Detectors, Smart Camera and Monitoring Systems), Communication Module (Professional Monitored, Self-Monitored), By Region, By Competition 2019-2029 has evaluated the future growth potential of Global Smart Home Security Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Smart Home Security Market.

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April 11, 2024

The global Smart Home Security market is driven by several key factors.

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