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Home security market grows with the increased demand of smart homes

Press release September 29, 2014 Home security industry, home security market

This report outlines the latest development of smart homes analyzes future trends of smart homes and major US operators strategic planning.

Even if the notion of digital homes has been around for decades, lack of proper network infrastructure and interoperability among the connected devices with different technologies and standards, the development and deployment of digital homes did not proceed as planned. However, as popularity of smart handheld devices grew, the idea of the digital home was replaced by the smart homes. One of the major areas that gained attention was home security. Furthermore, with competition in smart homes heating up with Google’s acquisition of Nest Labs and Apple’s entrance in home security market, the market is expected to be on the path of exponential growth.

This report, Smart Home Security: Latest Developments, Future Trends and Operators' Strategic Planning highlights the major players of smart home development and their roles in the market. Providing various illustrations of the home security systems, the consumer also talks about the key determinants of consumers’ decision to integrate the product in their homes.

Market overview

America’s smart homes market is booming and in the coming years, the revenue generated from the sector is expected to reach USD 22.4 billion by 2020 at an estimated CAGR of 17.62% over the period of 2013 to 2020. Currently, the USA leads the market share in the region and has the maximum number of smart homes security adoption rates. While in South America, Brazil is expected to be the next new location for smart home development, boosting the growth of smart home security system’s market with the fresh flow of FDI money in the country. It is expected to continue mainly due to recent sports events like FIFA and Olympics of 2016.

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Home security industry, home security market