A smart home comprises of an internal network, home automation, and intelligent controls. It is generally defined as a home that is equipped with advanced and automated digital devices, home appliances, and equipment that are interconnected to each other facilitating sophisticated monitoring and control over the building's functions. It performs three different actions, namely remote status check, remote information, and remote control to implement any action by the resident from a remote location. For instance, the lighting, temperature, security, and door operations of a smart home can be controlled from a remote location with the necessary access. Smart homes provide a wide variety of applications such as home automation, home security, home cloud, energy management, and e-health services. The living experience of consumers is enhanced by comfort and convenience provided by smart homes.
Technavio’s analysts forecast the global connected home security system market to grow at a CAGR of 27.12% during the period 2017-2021.
Covered in this report The report covers the present scenario and the growth prospects of the global connected home security system market for 2017-2021. To calculate the market size, the report considers the revenue generated of various types of alarms (fire alarms and burglar alarms), digital electronic locks, sensors, video cameras, video monitoring systems, and detectors (fire detector, CO detector, and HVAC detector).
The market is divided into the following segments based on geography: - Americas - APAC - EMEA
Technavio's report, Global Connected Home Security System Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Other prominent vendors - Alarm.com - August Home - Butterfleye - Canary Connect - Cocoon Labs - Control4 Corporation - Deutsche Telekom - Frontpoint Security Solutions - G4S - Google - Honeywell International - ICONTROL NETWORKS (Piper) - Indiegogo - Kuna Systems - Kwikset (Owned by Spectrum Brands) - MivaTek - Nest (Dropcam) - Panasonic - PatrolTag - Protect America - Samsung - SECOM - Securitas - SimpliSafe - Verizon Communications - Vivint - Vodafone - Withings
Market driver - Cost savings due to discounts from insurance providers. - For a full, detailed list, view our report
Market challenge - Lack of standards for manufacturing security solutions. - For a full, detailed list, view our report
Market trend - Use of Bluetooth and low-power Wi-Fi to operate smart home products. - For a full, detailed list, view our report
Key questions answered in this report - What will the market size be in 2021 and what will the growth rate be? - What are the key market trends? - What is driving this market? - What are the challenges to market growth? - Who are the key vendors in this market space? - What are the market opportunities and threats faced by the key vendors? - What are the strengths and weaknesses of the key vendors?
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Methodology Research methodology is based on extensive primary and secondary research. Primary research includes in-depth interviews with industry experts, vendors, resellers and customers. Secondary research includes Technavio Platform, industry publications, company reports, news articles, analyst reports, trade associations and the data published by Government agencies.
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