San Francisco, CA -- (SBWIRE) -- 04/21/2020 -- Global Connected Home Security System Market: Snapshot

The growing concerns about security in residential zones has prompted several homeowners to invest in state-of-the-art security measures. The latest trend catering to these needs are the novel connected home security systems. This market offers a wide range of features to alert the owners and avert harm through emergency notifications. Equipped with alarms, cameras, locks, monitoring devices, detectors, and sensors the new age connected home security systems are becoming an indispensable need of the hour. Technological advancements that have allowed voice control of these features has made connected home security systems easy to use, thus adding a touch of universality to them.

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Integration of artificial intelligence and IoT has tremendously benefited the global connected home security systems market. Several vendors operating in the market are offering a wide range of solutions that can be used via new, independent products and existing devices. The report points out that smart wearables have made a significant value addition to the connected home security systems as they enable instant navigation and response. The global connected home security systems market is expected to gain momentum as builders are developing commercial and residential projects that are already equipped with better security solutions to ensure safety of end users.

Proliferation of cloud-based technologies that offer remote monitoring and storage have drastically aided the growth of the global connected home security systems market. Need for digital transformation and possibility of seamless connectivity have been identified as key drivers for the uptake of modern connected home security systems in the near future.

Global Connected Home Security System Market: Overview

Connected home security systems are networks of integrated electronic devices that work together with a control panel that arms and disarms security systems to protect home against burglars and other potential intruders. The global market for connected home security systems will expand at a brisk pace, especially with internet service and cable TV providers introducing their own products. These systems consist of alarms, cameras, locks and sensors, monitoring devices, and detectors. The systems can be installed by professionals or self.

Global Connected Home Security System Market: Key Trends

The increasing incidents of theft and house robbery are translating into the greater demand for enhanced security and safety solutions with effective monitoring technology, thereby augmenting the global market for connected home security systems. The proliferation of smart devices is also working in favor of the market. Moreover, the market is largely benefitting from the emergence of cloud technology. Home cloud solutions offer ubiquitous and collaborative advantages, which are stirring up their demand. Furthermore, the presence of home insurance policies that cover installation of monitored security systems is stoking the growth of the market. However, the low awareness regarding these systems, especially in developing and less developed regions, is hampering the growth prospects of the market.

Global Connected Home Security System Market: Market Potential

Connected home security systems are networks of integrated electronic devices that work together with a control panel that arms and disarms security systems to protect home against burglars and other potential intruders. The global market for connected home security systems will expand at a brisk pace, especially with internet service and cable TV providers introducing their own products. These systems consist of alarms, cameras, locks and sensors, monitoring devices, and detectors. The systems can be installed by professionals or self.

Home cloud solutions offer ubiquitous and collaborative advantages, which are stirring up their demand. Furthermore, the presence of home insurance policies that cover installation of monitored security systems is stoking the growth of the market. However, the low awareness regarding these systems, especially in developing and less developed regions, is hampering the growth prospects of the market.

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Global Connected Home Security System Market: Geographical Segmentation

The key segments analyzed in the report on the basis of geography are North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. North America will hold a prominent position in the global market throughout the forecast period, owing to the soaring need for energy management solutions. The availability of low-cost devices and the high adoption of wireless home security DIY installations are contributing to the growth of the region. Besides these factors, the large-scale adoption of cloud-based technologies for the effective monitoring of home security systems is also fuelling the North America market. The U.S. will be at the forefront of the region, due to high acceptance of technologically advanced products.

Global Connected Home Security System Market: Competitive Landscape

The global connected home security system market features a high degree of competition and concentration. The tremendous growth potential of the market is attracting new companies to venture into the market, which is likely to intensify the competition in the near future. New entrants are focusing towards capitalizing on DIY trend and therefore, introducing products in line with the trend. Large organizations and small companies are competing with each other in terms of pricing and product offerings. Some of the prominent players operating in the global connected home security system market are AT&T, Honeywell Total Connect, Comcast, ADT, Verizon, Cocoon, Lifeshield, Samsung, Panasonic, Petzi, Xfinity, Kuna, August, Kwikset, and Control4.

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