According to our latest report, the Smart Home Security Market size is expected to reach USD 7.95 billion by end of 2024, an increase of USD 2.49 billion in 2019, with a CAGR of 20.6 percent during the forecast period of 2019 – 2024.
Recent developments
• Control4 has announced its sponsorship of the CEDIA Design and Build conference, at ISE 2020, a meet-up of industries' intellects that discusses the automation, development of tech-nology in smart homes.
• SECOM, a leading smart home security manufacturer, has done set up a new facility in Co-lumbia which was three times bigger than its former headquarters slating its opening on July 15.
• Honeywell, a US-based smart home security manufacturer, partnered with Etisalat Misr to deploy digital solutions in Egypt for the development of the new smart city. This agreement was initialized during the Intersec 2020conference held in Dubai.
Market drivers and restraints
Increasing the adoption of smart homes across the globe because of the uses that it has, and the ben-efits that they have is the factor that is growing the Smart Home Security Market. The integration of AI (Artificial Intelligence) in the security systems that can make them more secure and the amal-gamation of biometrics, facial recognition & retina scanning are boosting the growth of the global smart home security market.
But the factors like expensiveness for the initial setup of these security systems and lack of simplici-ty while using, along with stringent maintenance rules associated with these security systems are hindering the expansion of the global Smart Home Security Market.
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Report Segmented as
Smart home security market- By Application:
• Protection and Security
• Home Appliances
• Entertainment
• Illumination
• HVAC
• Home Care
• Intelligent Kitchen
• Others
Smart home security market- By Technology:
• BACnet
• LonWorks
• DALI
• Modbus
• KNX
• Others
• Without Strings
• Zigbee
• Wifi
• Bluetooth
• EnOcean
• Z-Wave
• Others
Geographical Analysis
• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & Africa
In the regional analysis, Asia-Pacific is the region that has acquired a huge market share of this Smart Home Security Market due to the rise in the adoption of cloud-based technologies and awareness of security. Moreover, population growth, urbanization, high standard of living and in-creased public spending on smart technologies is going to boost the growth of this regional market in the forecast period.
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Key market players
1. ADT (United States)
2. Honeywell (United States)
3. Johnson Controls (United States)
4. HANGZHOU HIKVISION DIGITAL TECHNOLOGY (China)
5. ASSA ABLOY (Sweden)
6. SECOM (Japan)
7. Robert Bosch (Germany)
8. United Technologies (United States)
9. Godrej & Boyce (India)
10. com (United States)
11. Allegion (Republic of Ireland)
12. Control4 (United States)
13. Schneider Electric (France)
14. Legrand (France)
15. ABB (Switzerland)
16. Comcast (United States)
17. Stanley Covergent Security Solutions (United States)
18. Nortek Security & Control (United States)
19. Front Point (United States)
20. Vivint (United States)