Connected home security devices come with a host of advanced features that outdo their traditional counterparts. Connected home security devices are nearly invisible and are designed to blend in with their surroundings. The pervasiveness of smartphones and tablets and high-speed broadband is having a remarkable effect on home networking technologies and is expected to push the market for security devices for connected home in coming years.
Easy availability of well-positioned apps for operating different devices, technological advancement in wireless standards, reduced hardware cost are some major factors expected to contribute towards the growth of connected home security devices. Furthermore, increased penetration of smartphone paired with constant product updates with innovative technology is expected to propel the growth of security device for connected home in coming years. However, low awareness of technology is expected to have a negative impact on the growth of the market in coming years. Nonetheless, rising demand for home cloud technology coupled with technological advancement is expected to present lots of alluring opportunities for the connected home security device market.
The report covers forecast and analysis for the connected home security device market on a global and regional level. The report also offers provides past data of 2015 along with a prediction from 2016 to 2021 based on revenue (USD Million). To understand the competitiveness of the market, an analysis of Porter’s Five Forces model for the connected home security device market has also been incorporated in the study. The report also analyzes several driving and restraining factors and their impact on the market within the forecast period. The study encompasses a market attractiveness analysis, wherein type segment is marked based on their growth rate, market size, and general attractiveness.
The report provides detailed segmentation of connected home security device market based on type and regions. Based on different types of security devices, the global connected home security device market is categorized into the security camera, door locks, detection devices, sensors, access control and others. Security camera and door lock together emerged as leading type segment of the global market in term of demand in 2015. Both segments are expected to continue their dominance during the forecast period due to reduced hardware cost paired with an availability of friendly apps.
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Major regional segments analyzed in this study include Latin America, North America, Middle East and Africa, Asia-Pacific and Europe. North America emerged as the largest market for connected home security devices due to the better consumer awareness coupled with high technology adoption rate. Rising disposal income in countries like China, Japan, and South Korea is projected to show considerable growth over the forecast period in Asia Pacific. Europe is expected to be one of the fastest growing regions in the forecast period and expected to present lucrative opportunities for investor and major players. Western Europe is expected to experience noteworthy growth for connected home security device market in coming years. Countries such as U.A.E. and Saudi are expected to show remarkable growth in years to come.
The key players operative in the global connected home security device market includes Apple, RISCO Group, Paradox, Philips Hue, Essence, UTC / Interlogix, Tyco, GE, Honeywell, Hager Group Daitem April E-Nova, Google Nest and Samsung amongst others.