Market Research Report
Global Security Services Market for Smart Homes - Segmented by Product (Video Surveillance, Access Control), Installation (Professional Installation, Self-Installation), and Region - Growth, Trends, And Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||635860|
|Published||Content info||77 Pages
Delivery time: 1-2 business days
|Global Security Services Market for Smart Homes - Segmented by Product (Video Surveillance, Access Control), Installation (Professional Installation, Self-Installation), and Region - Growth, Trends, And Forecast (2018 - 2023)|
|Published: April 26, 2018||Content info: 77 Pages||
Security services market for smart homes is expected to register a CAGR of 24.1%, during the forecast period (2018 - 2023). Security services market for smart homes is undergoing huge transition, owing to commercialization of smart homes and increasing adoption of IoT. The scope of this report is limited to the type of security products being used and by the type of installation. The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Growing security concerns and increasing smart homes market are a few factors driving the growth of security services market for smart homes, whereas, high installation costs is inhibiting its growth.
Growing Safety Concerns
Integrating many devices in smart homes not only makes our life easier but also, makes it prone to various security concerns, such as theft and extortion. A hacker might hack into your smart things system and get access to various sensors and cameras. The hacker might even change the security passwords. With the number of cyber-attacks on the global scale growing, the concerns regarding the security and safety of connected systems are growing in the market. Companies, thus, are focusing heavily on the security aspect of the smart homes so as to build confidence among the consumers buying this product.
With the increase in smart homes, the prominence of video surveillance has increased. The ability to monitor a smart home from remote location on real-time basis is fuelling the demand of this market. As per FBI, in 2016, the burglary rates dropped by 7.8% due to increase in installation of video surveillance systems. With security being the concern in smart homes, the security services market in smart homes is bound to grow.
Key Developments In The Market
January 2018 - Interlogix, brand of UTC, introduced New UltraSync™ SmartHome System to provide homeowners with more convenient, improved home security and automation solutions
April 2017 - Control4 Corporation launched the new Pakedge PowerPak family of power control devices. PowerPak PDUs provide centralized power control and management with surge protection for all equipment in a connected home
Major Players - ADT SECURITY SERVICES, AT&T INC., COMCAST CORPORATION, CONTROL4, UNITED TECHNOLOGIES CORPORATION, HONEYWELL INTERNATIONAL INC., amongst others.
Reasons To Purchase This Report
To know how various factors are driving the market with respect to the global market scenario
To analyze various market perspectives, with the help of Porter's five forces analysis
To understand, which of the regions is expected to witness the fastest growth rate during the forecast period
To identify the latest developments, market shares, and strategies that are employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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