Global Connected Home Security System Market 2016-2020
Outlook of the global connected home security system market
Technavio’s market research analyst predicts the global connected home security system market to grow profoundly at a CAGR of approximately 48% during the forecast period. The growing demand for home security systems and the recent increase in smartphone penetration will aid in the growth of this market during the predicted period. Furthermore, factors such as the high demand for enhanced security and safety with effective monitoring technology are also expected to foster the prospects for market growth until 2020.
The high growth prospects of the home cloud market will help to impel the demand for connected home security systems during the forecast period. Home cloud solutions provide ubiquitous and collaborative benefits, despite its major data management concerns. With the increasing adoption of smart home systems worldwide, the home cloud technology market has been witnessing an upsurge in its market value. This increase in the demand for home cloud technology will, in turn, impel the market potential for the connected home security system market during the estimated period.
Geographical segmentation of the connected home security system market
In this market research, analysts have estimated the US region to be the largest market for connected home security systems during the forecast period. At present, this region dominates this market and accounts for a market share of around 59%. The widespread adoption of cloud-based technologies for the effective monitoring of home security systems will help to foster market growth in this region during the predicted period.
Competitive landscape and key vendors
This market is extremely competitive due to the high concentration of vendors that account for a major portion of the total market share. Since this market has immense growth potential, many start-ups have been established to leverage the DIY trend among key customer segments. In this market, the big companies compete with smaller vendors on the basis of product offerings and price.
The leading vendors in the market are -
- Honeywell Total Connect
Other prominent vendors in the market include Alarm.com, August, Butterfleye, Canary, Cocoon, Control4, Frontpoint, G4S, Goji, Korner, Kuna, Kwikset, LifeShield, MivaTek, Nest (Dropcam), Panasonic, Petzi, Piper, Protect America, Samsung, Secom, Securitas ,SimpliSafe ,Vivint ,Withings, and Xfinity.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global connected home security system market?
- What are the key market trends impacting the growth of the global connected home security system 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 vendors in the global connected home security system market?
- What are the trending factors influencing the market shares of APAC, the US, and WE?
- What are the key outcomes of the five forces analysis of the global connected home security system market?