Global Smart Home Security Market Overview And Prospects

December 3, 2021 by The Business Research Company

Learn about the global smart home security market through The Business Research Company, which provides information on smart home security market size, smart home security market drivers and restraints, smart home security market players, the COVID-19 impact on the smart home security market, and more.

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The global smart home security market is expected to grow from $2.49 billion in 2020 to $2.7 billion in 2021 at a compound annual growth rate (CAGR) of 8.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart home security systems market is expected to reach $5.05 billion in 2025 at a CAGR of 16.9%.

Increasing crime rates across the globe is expected to drive innovation in smart home security manufacturing, thus driving the market during the forecast period.

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The smart home security systems market consists of sales of smart home security devices and related services. Smart home security devices can be connected to Wi-Fi and accessed from anywhere using smartphones, smartwatch or voice. The security devices produced includes devices such as smart alarms, smart cameras, smart locks, smart detectors, and others. This market does not include the installation of these devices and/or integration with the home set-up.

Global smart home security market segments include:

By Product: Smart Alarms, Smart Camera And Monitoring System, Smart Locks And Sensors, Smart Detectors

By Application: Independent Homes, Apartments, Condominiums

By Component: Hardware, Software, Service

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Smart home security systems manufacturers are increasingly integrating technologies with visual recognition based on AI (Artificial Intelligence) in security devices. AI is developing to a new stage where the security confirmation and authentication will be processed from face and visual recognition. Home security systems such as consumer video cameras are integrated with AI technology with a new security validation framework to enhance safety and security through facial recognition, fingerprints and voice recognition. AI is proposed to be applied in smart alarms to create databases of all incoming alerts, which then could be analyzed to predict false alarms.

TBRC’s smart home security market report covers:

Major Market Players: ADT, Amazon, Honeywell International, Hangzhou Hikvision Digital Technology and Frontpoint Security Solutions.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Smart Home Security Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides smart home security market overviews, analyzes and forecasts market size, share, smart home security market players, smart home security market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s smart home security market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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