The global connected home security system market is expected to reach US$ 32.5 Bn by 2026, expanding at a CAGR of 15.3% during the forecast period from 2018 to 2026. Connected security systems are useful addition in homes where safety is an important concern. The rear of home security has witnessed some drastic changes in the recent past and will continue to advance much more in the years to come. In the past few years, there has been an unprecedented growth in the number of devices being connected to the internet. All these internet connected devices forms a part of IoT infrastructure which allows them to send and receive data among themselves. As a result, rising need of having seamless connectivity and proliferation of remote monitoring have aided the growth of connected home security systems market worldwide.

Rising fears about security in residential areas coupled with increasing consumer familiarity with smart devices, the potential solutions they provide has prompted several homeowners to invest in the advanced security measures. The connected home security systems offers an extensive range of features to alert the owners and avert the harm through emergency notifications. These systems are equipped mainly with cameras, alarms, monitoring devices, locks, detectors, sensors to meet the need of any unwanted activities such as theft or burglary.

Given the enhanced competences of connected home security systems, devices with multiple features are encouraging its adoption across a wider range of consumer demographics. This in turn is expected to facilitate the growth of global connected home security system market worldwide during the forecast period from 2018 to 2026.

"Cameras and Monitoring Systems accounted for the Largest Market Share in 2017"

Based on product type, cameras and monitoring systems demonstrated largest market share in the global connected home security system market in 2017. The segment expected to grow at a substantial rate in the years to come. Camera and monitoring systems are the most popular home security products. Increasing incidents of house robbery and thefts is encouraging the house owners to invest into enhanced safety and security solutions with efficient & effective cameras and monitoring systems. As a result, widespread adoption of these products is supplementing its growth in the connected home security system market. 

"North America Garnered Largest Market Share in 2017"

North America garnered largest market share in the connected home security system market in 2017 and is projected to grow significantly throughout the forecast period from 2018 to 2026. The rising need for security and energy management solutions is boosting the growth of connected home security system in the region. Moreover, high adoption of wireless home security installations coupled availability of low-cost security & monitoring devices is facilitating the market growth. The U.S. is expected to remain dominant in the region owing to the high acceptance of technologically advanced products. 

Competitive Insights

Major players in the connected home security system market include ADT Inc., Tyco Security Products, Alarm.com Holdings, Inc., August Home, Ooma, Inc., Canary Connect, Inc., Cocoon Labs Ltd, Control4 Corporation, Frontpoint Security Solutions, G4S plc, Honeywell International, Inc., Comcast Corporation, Kuna Systems, Kwikset, Nest Labs, Panasonic Corporation, Protect America, Inc., Samsung, SimpliSafe, Vivint, Inc., Vodafone Group, Plc., and Withings among others

The prominent players present in the connected home security systems market are focusing on adopting strategies like partnerships and new product development to obtain an upper hand and to stay ahead in the market.

For instance, in February 2018, Vodafone Group entered into a strategic partnership with Samsung for launching Smart Home Services. Vodafone announced that it will become Samsung’s exclusive telecom partner in selected European markets. The partnership is established to launch and develop range of consumer Internet of Things (IoT) Smart Home products and services, which will altogether offer consumers simple yet powerful home automation, safety and security products and services. 

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Connected Home Security Systems market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Connected Home Security Systems market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Connected Home Security Systems market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Connected Home Security Systems market?
• Which is the largest regional market for Connected Home Security Systems market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Connected Home Security Systems market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Connected Home Security Systems market worldwide?