SecurityWorldMarket

12/05/2016

Boost for global connected home security system market

Dublin, Ireland

In a recently published report on the global connected home security systems market from 2016 to 2020 analysts forecast growth at a CAGR of 48.06% during the period covered.

The report from Research and Markets covers the present scenario and the growth prospects of the global connected home security system market for 2016-2020. To calculate the market size, the report considers the revenue generated from solution providers for connected home security systems in the regions – US, Western Europe and APAC. The report has been prepared based on an in-depth market analysis with inputs from industry experts and covers the market landscape and its growth prospects over the coming years.

For the purposes of the analysis connected home security solutions include night-vision 3D video cameras, electronic locks, motion sensors, burglar alarms, and monitoring devices. Home-integrated networks play a vital role in effective functionality of these security systems.

Connected home security market innovations such as decreased hardware prices, advances in wireless standards, smartphone penetration, improved bandwidth, and well-positioned apps for accessing home systems are fueling the growth of this market. Vendors are expanding their distribution channels and R&D expenditure to improve their product offerings and leverage on the trend of home automation to provide homeowners with enhanced security.

Commenting on the findings, an analyst from the research team said: “Home cloud solutions provide ubiquitous and collaborative benefits, despite its major data management concerns. With the increasing adoption of smart home systems worldwide, the home cloud technology market has been witnessing an upsurge in its market value. This increase in the demand for home cloud technology will, in turn, impel the market potential for the connected home security system market during the estimated period.”

According to the report, the growing demand for home security systems and the recent increase in smartphone penetration will aid in the growth of this market during the predicted period.

Further, the researchers state that with the advent of IoT, the number of connected devices worldwide has increased significantly over the past few years. All Wifi-enabled devices operate on cloud technology where privacy is one of the major concerns when adopting smart home technology.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The main key players recognised by the anaysts and cited in the Global Connected Home Security System Market report are: ADT, AT&T, Comcast, Honeywell Total Connect and Verizon.  Other companies mentioned as prominent players include;  Alarm.com, G4S, Nest (Dropcam), Panasonic, Protect America, Samsung, Secom, Securitas and Vivint.


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