Global Smart Home Security Market Report 2021 with Key Players – ADT, Amazon, Honeywell International, Hangzhou Hikvision Digital Technology and Frontpoint Security Solutions – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Smart Home Security Market Report 2021: COVID-19 Growth and Change to 2030” report has been added to from ResearchAndMarkets.com offer.

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 market is expected to reach $5.05 billion in 2025 at a CAGR of 16.9%.

The growth is primarily due to businesses resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote work and the closure of business activities that have resulted in operational challenges.

Major players in the smart home security market are ADT, Amazon, Honeywell International, Hangzhou Hikvision Digital Technology, and Frontpoint Security Solutions.

The smart home security system market includes sales of smart home security devices and related services. Smart home security devices can be connected to Wi-Fi and accessed from anywhere using a smartphone, smartwatch or voice. Security devices produced include 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 the integration with the domestic installation.

The Smart Home Security market covered in this report is segmented by Product into Smart Alarms, Smart Camera & Surveillance System, Smart Locks & Sensors, Smart Detectors. It is also segmented by application into independent houses, apartments, condominiums and by component into hardware, software, service.

High installation costs of smart home security devices are restraining the growth of the smart home security market. Being a relatively new technology, the cost of installing smart home security systems and the cost of other related expenses such as utilities, maintenance and repair of the technology are also high.

The cost of home security devices depends on the installation plan and the size of the property. Installing alarm systems and security cameras cost more than other smart home security devices. The basic smart home security system consisting of a burglar alarm, thermostat, outdoor lighting and a backdoor lock that can be controlled remotely costs $2,500. And an advanced, high-end security and home automation system costs $1.8 million. For example, in 2019 the cost range for installing basic security cameras is $663 to $2,019.

Manufacturers of smart home security systems are increasingly integrating visual recognition technologies based on AI (artificial intelligence) into security devices. AI is developing to a new stage where security confirmation and authentication will be processed from facial and visual recognition.

Home security systems such as consumer video cameras are being integrated with AI technology with a new security validation framework to improve safety and security through facial recognition, fingerprints, and voice recognition. It is proposed to apply AI in smart alarms to create databases of all incoming alerts, which could then be analyzed to predict false alarms

The smart home security market is driven by rising crime rates across the globe. With rising crime rates, consumers are increasingly focusing on safety and security systems, especially in residential areas. Smart home devices such as smart alarms, smart cameras and smart lockers are preferred by households to be more safe and secure.

Main topics covered:

1. Summary

2. Features of the Smart Home Security Market

3. Smart Home Security Market Trends and Strategies

4. Impact of COVID-19 on smart home security

5. Smart Home Security Market Size and Growth

5.1. Global Smart Home Security Historic Market, 2015-2020, USD Billion

5.1.1. Market Drivers

5.1.2. Market Constraints

5.2. Global Smart Home Security Market Forecast, 2020-2025F, 2030F, Billion USD

5.2.1. Market Drivers

5.2.2. Market Constraints

6. Smart Home Security Market Segmentation

6.1. Global Smart Home Security Market, Segmentation by Product, History and Forecast, 2015-2020, 2020-2025F, 2030F, USD Billion

  • Smart alarms

  • Smart camera and monitoring system

  • Smart locks and sensors

  • Smart sensors

6.2. Global Smart Home Security Market, Segmentation by Application, History and Forecast, 2015-2020, 2020-2025F, 2030F, USD Billion

  • Independent Houses

  • Apartments

  • Condominiums

6.3. Global Smart Home Security Market, Segmentation by Component, History and Forecast, 2015-2020, 2020-2025F, 2030F, USD Billion

  • Equipment

  • Software

  • A service

7. Regional and Country Analysis of Smart Home Security Market

7.1. Global Smart Home Security Market, Split by Region, Historical & Forecast, 2015-2020, 2020-2025F, 2030F, USD Billion

7.2. Global Smart Home Security Market, Split by Country, Historical & Forecast, 2015-2020, 2020-2025F, 2030F, USD Billion

Companies cited

  • ADT

  • Amazon

  • Honeywell International

  • Hangzhou Hikvision Digital Technology

  • Front-end security solutions

  • Ring

  • Samsung

  • Vivint Smart Home Security

  • Simplified safe

  • Robert Bosch

  • Protect America

  • Alphabet

  • Apple

  • Comcast

  • Net Gear

  • Skybell Technologies

  • Alarme.com

  • canary connection

  • AT&T

  • August welcome

  • google

  • Butterfly

  • Tyco Safety Products

  • Live Monitoring Security

  • G4S

  • Cocoon Laboratories

  • Great

  • Ingersoll-Rand

For more information on this report, visit https://www.researchandmarkets.com/r/mpn8es

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