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Smart Home Safety Market by Product, Service, and Geography - Forecast and Analysis 2022-2026

  • Published: Apr 2022
  • Pages: 136
  • SKU: IRTNTR43123
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The smart home safety market share is expected to increase by USD 14.10 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 16.48%.

This smart home safety market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers smart home safety market segmentations by product (cameras and monitoring systems, alarms, locks and sensors, and detectors), service (professional installation and self-installation), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The smart home safety market report also offers information on several market vendors, including ABB Ltd., Alphabet Inc., Carrier Global Corp., Cisco Systems Inc., Control4 Corp., Emerson Electric Co., General Electric Co., Haier Smart Home Co. Ltd., International Business Machines Corp., Legrand SA, LG Electronics Inc., Lutron Electronics Co. Inc., Microsoft Corp., Resideo Technologies Inc., Samsung Electronics Co. Ltd., Schneider Electric SE, Shenzhen Zhuohao Intelligent Electronic Development Co. Ltd., Siemens AG, Smartlabs Inc., and Panasonic Corp. among others.

What will the Smart Home Safety Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Smart Home Safety Market Size for the Forecast Period and Other Important Statistics

 

Smart Home Safety Market: Key Drivers, Trends, and Challenges

The adoption of cloud-based technologies is notably driving the smart home safety market growth, although factors such as safety and privacy concerns may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart home safety industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Smart Home Safety Market Driver

The adoption of cloud-based technologies is one of the key drivers supporting the smart home safety market growth. Cloud-based services are used to store images captured by surveillance systems so that they can be used on-demand. They ensure a low cost of ownership and on-demand scalability without any additional cost to homeowners. The smart home cloud center platform can be categorized into three divisions, namely cloud service market, carrier market, and smart IoT gateway. These platforms provide features such as high-speed gaming, mobile app downloads, content transfer across regions, and multiple wireless user interfaces. Hence, smart homes have the potential of having a huge presence with the growth of cloud technology. Such factors of cloud-based technology will propel the smart home safety market growth during the forecast period.

Key Smart Home Safety Market Trend

Remote arming of the smart home alarm system is one of the key smart home safety market trends that is contributing to the market growth. Home security systems do not function effectively unless they are armed. Piper, the first all-in-one home security and home automation device manufactured by ICONTROL NETWORKS, features smart arming. This is a feature that allows users to set their system remotely from a mobile device. Piper and Life 360 partnered to develop the smart arming feature. The Piper app allows users to check if anyone is at home, and the alarm is set off when it detects that no one is at home but there is a movement within the premises. This app also gives notifications to inform homeowners about security developments via text, phone calls, and e-mail. The device uses a Z-wave compatible with Wi-Fi-enabled cameras to monitor the house with features like panoramic video and sound detection. These factors are driving the smart home safety market growth.

Key Smart Home Safety Market Challenge

Safety and privacy concerns is one of the factors hindering the smart home safety market growth. M2M technology facilitates communication among supply chain players for promoting easier inventory management. An IoT system connects remote machines with systems, machines, and people. However, if the number of interfaces linking the components is increased, the entire system becomes vulnerable to breaches. With the advent of M2M technology, the number of connected devices worldwide has increased expeditiously over the past few years. All Wi-Fi-enabled devices are now operated using cloud technology. While this makes operations simpler, privacy becomes a major concern. With regard to smart homes, individuals focus on the security aspect while adopting any new technology. Public or unauthorized access to cloud information could lead to cyber threats and compromise the integrity of the entire system. Such threats will impede the smart home safety market growth during the forecast period.

This smart home safety market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global smart home safety market as a part of the global technology hardware, storage, and peripherals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart home safety market during the forecast period.

Who are the Major Smart Home Safety Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Alphabet Inc.
  • Carrier Global Corp.
  • Cisco Systems Inc.
  • Control4 Corp.
  • Emerson Electric Co.
  • General Electric Co.
  • Haier Smart Home Co. Ltd.
  • International Business Machines Corp.
  • Legrand SA
  • LG Electronics Inc.
  • Lutron Electronics Co. Inc.
  • Microsoft Corp.
  • Resideo Technologies Inc.
  • Samsung Electronics Co. Ltd.
  • Schneider Electric SE
  • Shenzhen Zhuohao Intelligent Electronic Development Co. Ltd.
  • Siemens AG
  • Smartlabs Inc.
  • Panasonic Corp.

 

This statistical study of the smart home safety market encompasses successful business strategies deployed by the key vendors. The smart home safety market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Emerson Electric Co. - Under the automation solutions segment, the company offers measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions. 
  • Emerson Electric Co. - The company offers smart home safety solutions that includes process control for process industries, scada systems, process control for power and water industries, cybersecurity, industrial control and software, field device software. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The smart home safety market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smart Home Safety Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smart home safety market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Smart Home Safety Market?

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31% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for the smart home safety market in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC.

The rising disposable income will facilitate the smart home safety market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the impact of COVID-19 was very severe in North America, especially in the US. Moreover, good internet connectivity and easy access to digital devices will drive the growth of the regional market during the forecast period.

What are the Revenue-generating Product Segments in the Smart Home Safety Market?

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The smart home safety market share growth by the cameras and monitoring systems segment will be significant during the forecast period. The cameras and monitoring systems segment has witnessed a proliferation of variants that use advanced technologies to fulfill the demands of customers. Replaceable and rechargeable batteries, as well as Wi-Fi connectivity, are some of the features integrated into these cameras. Motion and sound alerts, two-way talk, and activity logs are some more additional features instilled in the apps. Video quality is a major buying criterion for end-users. Such factors are expected to drive the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart home safety market size and actionable market insights on post COVID-19 impact on each segment.

 

Smart Home Safety Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 16.48%

Market growth 2022-2026

$ 14.10 billion

Market structure

Fragmented

YoY growth (%)

15.66

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 31%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., Alphabet Inc., Carrier Global Corp., Cisco Systems Inc., Control4 Corp., Emerson Electric Co., General Electric Co., Haier Smart Home Co. Ltd., International Business Machines Corp., Legrand SA, LG Electronics Inc., Lutron Electronics Co. Inc., Microsoft Corp., Resideo Technologies Inc., Samsung Electronics Co. Ltd., Schneider Electric SE, Shenzhen Zhuohao Intelligent Electronic Development Co. Ltd., Siemens AG, Smartlabs Inc., and Panasonic Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Smart Home Safety Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive smart home safety market growth during the next five years
  • Precise estimation of the smart home safety market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart home safety industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart home safety market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Global IT consulting and other services market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Cameras and monitoring systems - Market size and forecast 2020-2025
      • Exhibit 17: Cameras and monitoring systems - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Cameras and monitoring systems - Year-over-year growth 2020-2025 (%)
    • 5.4 Alarms - Market size and forecast 2020-2025
      • Exhibit 19: Alarms - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Alarms - Year-over-year growth 2020-2025 (%)
    • 5.5 Locks and sensors - Market size and forecast 2020-2025
      • Exhibit 21: Locks and sensors - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Locks and sensors - Year-over-year growth 2020-2025 (%)
    • 5.6 Detectors - Market size and forecast 2020-2025
      • Exhibit 23: Detectors - Market size and forecast 2020-2025 ($ million)
      • Exhibit 24: Detectors - Year-over-year growth 2020-2025 (%)
    • 5.7 Market opportunity by Product
      • Exhibit 25: Market opportunity by Product

    6 Market Segmentation by Service

    • 6.1 Market segments
      • Exhibit 26: Service - Market share 2020-2025 (%)
    • 6.2 Comparison by Service
      • Exhibit 27: Comparison by Service
    • 6.3 Professional installation - Market size and forecast 2020-2025
      • Exhibit 28: Professional installation - Market size and forecast 2020-2025 ($ million)
      • Exhibit 29: Professional installation - Year-over-year growth 2020-2025 (%)
    • 6.4 Self-installation - Market size and forecast 2020-2025
      • Exhibit 30: Self-installation - Market size and forecast 2020-2025 ($ million)
      • Exhibit 31: Self-installation - Year-over-year growth 2020-2025 (%)
    • 6.5 Market opportunity by Service
      • Exhibit 32: Market opportunity by Service

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 34: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 35: Geographic comparison
    • 8.3 North America - Market size and forecast 2020-2025
      • Exhibit 36: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 37: North America - Year-over-year growth 2020-2025 (%)
    • 8.4 Europe - Market size and forecast 2020-2025
      • Exhibit 38: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: Europe - Year-over-year growth 2020-2025 (%)
    • 8.5 APAC - Market size and forecast 2020-2025
      • Exhibit 40: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: APAC - Year-over-year growth 2020-2025 (%)
    • 8.6 South America - Market size and forecast 2020-2025
      • Exhibit 42: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 43: South America - Year-over-year growth 2020-2025 (%)
    • 8.7 MEA - Market size and forecast 2020-2025
      • Exhibit 44: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 45: MEA - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 46: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 47: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • Exhibit 48: Impact of drivers and challenges
      • 9.3 Market trends

        10 Vendor Landscape

        • 10.1 Vendor landscape
          • Exhibit 49: Vendor landscape
        • 10.2 Landscape disruption
          • 10.3 Competitive Scenario

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 52: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 53: Market positioning of vendors
            • 11.3 ADT Inc.
              • Exhibit 54: ADT Inc. - Overview
              • Exhibit 55: ADT Inc. - Business segments
              • Exhibit 56: ADT Inc.– Key news
              • Exhibit 57: ADT Inc. - Key offerings
            • 11.4 Alarm.com Holdings Inc.
              • Exhibit 58: Alarm.com Holdings Inc. - Overview
              • Exhibit 59: Alarm.com Holdings Inc. - Business segments
              • Exhibit 60: Alarm.com Holdings Inc. – Key news
              • Exhibit 61: Alarm.com Holdings Inc. - Key offerings
              • Exhibit 62: Alarm.com Holdings Inc. - Segment focus
            • 11.5 Alphabet Inc.
              • Exhibit 63: Alphabet Inc. - Overview
              • Exhibit 64: Alphabet Inc. - Business segments
              • Exhibit 65: Alphabet Inc. – Key news
              • Exhibit 66: Alphabet Inc. - Key offerings
              • Exhibit 67: Alphabet Inc. - Segment focus
            • 11.6 AT and T Inc.
              • Exhibit 68: AT and T Inc. - Overview
              • Exhibit 69: AT and T Inc. - Business segments
              • Exhibit 70: AT and T Inc. – Key news
              • Exhibit 71: AT and T Inc. - Key offerings
              • Exhibit 72: AT and T Inc. - Segment focus
            • 11.7 Comcast Corp.
              • Exhibit 73: Comcast Corp. - Overview
              • Exhibit 74: Comcast Corp. - Business segments
              • Exhibit 75: Comcast Inc. – Key news
              • Exhibit 76: Comcast Corp. - Key offerings
              • Exhibit 77: Comcast Corp. - Segment focus
            • 11.8 Honeywell International Inc.
              • Exhibit 78: Honeywell International Inc. - Overview
              • Exhibit 79: Honeywell International Inc. - Business segments
              • Exhibit 80: Honeywell International Inc. – Key news
              • Exhibit 81: Honeywell International Inc. - Key offerings
              • Exhibit 82: Honeywell International Inc. - Segment focus
            • 11.9 Ooma Inc.
              • Exhibit 83: Ooma Inc. - Overview
              • Exhibit 84: Ooma Inc. - Business segments
              • Exhibit 85: Ooma Inc.– Key news
              • Exhibit 86: Ooma Inc. - Key offerings
              • Exhibit 87: Ooma Inc. - Segment focus
            • 11.10 Panasonic Corp.
              • Exhibit 88: Panasonic Corp. - Overview
              • Exhibit 89: Panasonic Corp. - Business segments
              • Exhibit 90: Panasonic Corp. – Key news
              • Exhibit 91: Panasonic Corp. - Key offerings
              • Exhibit 92: Panasonic Corp. - Segment focus
            • 11.11 Samsung Electronics Co. Ltd.
              • Exhibit 93: Samsung Electronics Co. Ltd. - Overview
              • Exhibit 94: Samsung Electronics Co. Ltd. - Business segments
              • Exhibit 95: Samsung Electronics Co. Ltd. – Key news
              • Exhibit 96: Samsung Electronics Co. Ltd. - Key offerings
              • Exhibit 97: Samsung Electronics Co. Ltd. - Segment focus
            • 11.12 Verizon Communications Inc.
              • Exhibit 98: Verizon Communications Inc. - Overview
              • Exhibit 99: Verizon Communications Inc. - Business segments
              • Exhibit 100: Verizon Communications Inc. – Key news
              • Exhibit 101: Verizon Communications Inc. - Key offerings
              • Exhibit 102: Verizon Communications Inc. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Currency conversion rates for US$
                • Exhibit 103: Currency conversion rates for US$
              • 12.3 Research methodology
                • Exhibit 104: Research Methodology
                • Exhibit 105: Validation techniques employed for market sizing
                • Exhibit 106: Information sources
              • 12.4 List of abbreviations
                • Exhibit 107: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The smart home safety market growth will increase by $13307.84 million during 2021-2025.
              The smart home safety market is expected to grow at a CAGR of 17.07% during 2021-2025.
              Technavio has segmented the smart home safety market by product (Cameras and monitoring systems, Alarms, Locks and sensors, and Detectors) ,service (Professional installation, Self-installation, APAC, South America, and MEA) , and geographic (North America, Europe, APAC, South America, and MEA).
              ADT Inc., Alarm.com Holdings Inc., Alphabet Inc., AT and T Inc., Comcast Corp., Honeywell International Inc., Ooma Inc., Panasonic Corp., Samsung Electronics Co. Ltd., Verizon Communications Inc. are a few of the key vendors in the smart home safety market.
              North America will register the highest growth rate of 32.68% among the other regions. Therefore, the smart home safety market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the smart home safety market growth are:
              • Cost savings due to effective monitoring technology
              • High growth potential of home-based cloud solutions
              The smart home safety market vendors should focus on grabbing business opportunities from the cameras and monitoring systems segment as it accounted for the largest market share in the base year.
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