Smart Home Security Market By Component, By Device Type, By Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

Description

List of Tables

According to a new report published by Allied Market Research, titled, "Smart Home Security Market," The smart home security market was valued at $25.8 billion in 2022, and is estimated to reach $112.6 billion by 2032, growing at a CAGR of 16.2% from 2023 to 2032.

Moreover, the ability to offer thorough monitoring and surveillance is one of the main advantages of smart home security. Security cameras strategically positioned around the property allow users to remotely monitor the space, get fast alerts of any suspicious activity, and even watch recorded footage if necessary. In addition, the surge in integration of smart city initiatives by several regional governments and public and private enterprises is one of the major factors driving the global market growth. Furthermore, the rise in trend for remote work and need for remote monitoring has propelled the demand for smart home security solutions. This is attributed to the consumers that often travel or spend extended periods of time away from home can remotely monitor the properties via smartphone applications or online interfaces.

Furthermore, the numerous advantages offered by smart home security create lucrative opportunities for the global market to minimize the impact of security incidents and improve protection quality, as this technology enhances security and transparency, which positively impacts the growth of the market in the forecast period. In addition, the growing trend of technological advancements and the surge in usage of internet-enabled devices in smart homes are major factors driving the market growth. Moreover, the growing demand to strengthen advanced protection against intrusions, burglaries, and unauthorized access in several industries is anticipated to accelerate the market demand and hence, drive global market growth. Furthermore, the need for an effective remote monitoring and control system, which creates opportunities for smart home security solutions to minimize the impact of convenience in traditional cab solutions and improve the quality of the transport. Moreover, with the increasing reliance on digital technologies, organizations aim to provide a seamless and secure user experience, which in turn, is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.

In addition, the smart home security market is witnessing significant growth, owing to several key factors including easy accessibility of the security devices which are embedded in smart homes. Whereas traditional security mediums are often inadequate in protecting the home environment, enabling smart home security solutions necessary to address the evolving trend. This enhances the customer experience and makes the customers more comfortable to choose the affordable solution of their preference., hence, is anticipated to drive global market growth.

Surge in advancements in Internet of Things (IoT) and connected technologies are the factors positively impacting the growth of the market in the future. In addition, the rise in the integration of home automation systems has fueled global market growth. However, high installation and maintenance costs and data security and privacy concerns are expected to hamper market growth. Moreover, the growing usage of mobile applications, which enable easy control over security systems supports the deployment of smart home security solutions at the global scale and is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.

The smart home security market is segmented component, device type, application, and regions. The report provides information on various components including hardware, software, and service. Furthermore, the major device types covered in the study include smart alarms, smart locks, smart sensors and detectors, smart cameras and monitoring systems, and others. Moreover, it outlines the details of the applications such as independent homes and condominiums/apartments. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.

The market players operating in the smart home security market are Abode Systems Inc., ADT Inc., Assa Abloy, Frontpoint Security Solutions LLC, Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Ingersoll Rand, Johnson Controls International PLC, Robert Bosch, and Vivint Smart Home Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the smart home security market globally.

Key Benefits for Stakeholders

The study provides an in-depth analysis of the smart home security market forecast along with the current and future trends to explain the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on smart home security market trends is provided in the report.
The Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the smart home security market from 2022 to 2032 is provided to determine the market potential.

Key Market Segments

By Component

Hardware
Software
Service

By Device Type

Smart Alarms
Smart Locks
Smart Sensors and Detectors
Smart Camera and Monitoring System
Other

By Application

Independent Homes
Condominiums/Apartments

By Region

North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa

Key Market Players:

Abode Systems Inc.
ADT Inc.
Assa Abloy
Frontpoint Security Solutions LLC
Hangzhou Hikvision Digital Technology Co. Ltd.
Honeywell International Inc.
Ingersoll Rand
Johnson Controls International plc
Robert Bosch
Vivint Smart Home Inc.

Product Code: A08889

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
- 3.3.1. Bargaining power of suppliers
- 3.3.2. Bargaining power of buyers
- 3.3.3. Threat of substitutes
- 3.3.4. Threat of new entrants
- 3.3.5. Intensity of rivalry
3.4. Market dynamics
- 3.4.1. Drivers
  - 3.4.1.1. Rise in integration of home automation system
  - 3.4.1.2. Increase in awareness and concern about home security
  - 3.4.1.3. The surge in advancements in IoT and connected technologies

3.4.2. Restraints
- 3.4.2.1. High installation and maintenance costs
- 3.4.2.2. Data security and privacy concerns

3.4.3. Opportunities
- 3.4.3.1. Integration of AI and deep learning solutions
- 3.4.3.2. Growing usage of mobile application

3.5. COVID-19 Impact Analysis on the market

CHAPTER 4: SMART HOME SECURITY MARKET, BY COMPONENT

4.1. Overview
- 4.1.1. Market size and forecast
4.2. Hardware
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
4.3. Software
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
4.4. Service
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country

CHAPTER 5: SMART HOME SECURITY MARKET, BY DEVICE TYPE

5.1. Overview
- 5.1.1. Market size and forecast
5.2. Smart Alarms
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
5.3. Smart Locks
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
5.4. Smart Sensors and Detectors
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
5.5. Smart Camera and Monitoring System
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country
5.6. Other
- 5.6.1. Key market trends, growth factors and opportunities
- 5.6.2. Market size and forecast, by region
- 5.6.3. Market share analysis by country

CHAPTER 6: SMART HOME SECURITY MARKET, BY APPLICATION

6.1. Overview
- 6.1.1. Market size and forecast
6.2. Independent Homes
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
6.3. Condominiums/Apartments
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country

CHAPTER 7: SMART HOME SECURITY MARKET, BY REGION

7.1. Overview
- 7.1.1. Market size and forecast By Region
7.2. North America
- 7.2.1. Key trends and opportunities
- 7.2.2. Market size and forecast, by Component
- 7.2.3. Market size and forecast, by Device Type
- 7.2.4. Market size and forecast, by Application
- 7.2.5. Market size and forecast, by country
  - 7.2.5.1. U.S.
  - 7.2.5.1.1. Key market trends, growth factors and opportunities
  - 7.2.5.1.2. Market size and forecast, by Component
  - 7.2.5.1.3. Market size and forecast, by Device Type
  - 7.2.5.1.4. Market size and forecast, by Application
  - 7.2.5.2. Canada
  - 7.2.5.2.1. Key market trends, growth factors and opportunities
  - 7.2.5.2.2. Market size and forecast, by Component
  - 7.2.5.2.3. Market size and forecast, by Device Type
  - 7.2.5.2.4. Market size and forecast, by Application
7.3. Europe
- 7.3.1. Key trends and opportunities
- 7.3.2. Market size and forecast, by Component
- 7.3.3. Market size and forecast, by Device Type
- 7.3.4. Market size and forecast, by Application
- 7.3.5. Market size and forecast, by country
  - 7.3.5.1. UK
  - 7.3.5.1.1. Key market trends, growth factors and opportunities
  - 7.3.5.1.2. Market size and forecast, by Component
  - 7.3.5.1.3. Market size and forecast, by Device Type
  - 7.3.5.1.4. Market size and forecast, by Application
  - 7.3.5.2. Germany
  - 7.3.5.2.1. Key market trends, growth factors and opportunities
  - 7.3.5.2.2. Market size and forecast, by Component
  - 7.3.5.2.3. Market size and forecast, by Device Type
  - 7.3.5.2.4. Market size and forecast, by Application
  - 7.3.5.3. France
  - 7.3.5.3.1. Key market trends, growth factors and opportunities
  - 7.3.5.3.2. Market size and forecast, by Component
  - 7.3.5.3.3. Market size and forecast, by Device Type
  - 7.3.5.3.4. Market size and forecast, by Application
  - 7.3.5.4. Italy
  - 7.3.5.4.1. Key market trends, growth factors and opportunities
  - 7.3.5.4.2. Market size and forecast, by Component
  - 7.3.5.4.3. Market size and forecast, by Device Type
  - 7.3.5.4.4. Market size and forecast, by Application
  - 7.3.5.5. Spain
  - 7.3.5.5.1. Key market trends, growth factors and opportunities
  - 7.3.5.5.2. Market size and forecast, by Component
  - 7.3.5.5.3. Market size and forecast, by Device Type
  - 7.3.5.5.4. Market size and forecast, by Application
  - 7.3.5.6. Rest of Europe
  - 7.3.5.6.1. Key market trends, growth factors and opportunities
  - 7.3.5.6.2. Market size and forecast, by Component
  - 7.3.5.6.3. Market size and forecast, by Device Type
  - 7.3.5.6.4. Market size and forecast, by Application
7.4. Asia-Pacific
- 7.4.1. Key trends and opportunities
- 7.4.2. Market size and forecast, by Component
- 7.4.3. Market size and forecast, by Device Type
- 7.4.4. Market size and forecast, by Application
- 7.4.5. Market size and forecast, by country
  - 7.4.5.1. China
  - 7.4.5.1.1. Key market trends, growth factors and opportunities
  - 7.4.5.1.2. Market size and forecast, by Component
  - 7.4.5.1.3. Market size and forecast, by Device Type
  - 7.4.5.1.4. Market size and forecast, by Application
  - 7.4.5.2. Japan
  - 7.4.5.2.1. Key market trends, growth factors and opportunities
  - 7.4.5.2.2. Market size and forecast, by Component
  - 7.4.5.2.3. Market size and forecast, by Device Type
  - 7.4.5.2.4. Market size and forecast, by Application
  - 7.4.5.3. India
  - 7.4.5.3.1. Key market trends, growth factors and opportunities
  - 7.4.5.3.2. Market size and forecast, by Component
  - 7.4.5.3.3. Market size and forecast, by Device Type
  - 7.4.5.3.4. Market size and forecast, by Application
  - 7.4.5.4. Australia
  - 7.4.5.4.1. Key market trends, growth factors and opportunities
  - 7.4.5.4.2. Market size and forecast, by Component
  - 7.4.5.4.3. Market size and forecast, by Device Type
  - 7.4.5.4.4. Market size and forecast, by Application
  - 7.4.5.5. South Korea
  - 7.4.5.5.1. Key market trends, growth factors and opportunities
  - 7.4.5.5.2. Market size and forecast, by Component
  - 7.4.5.5.3. Market size and forecast, by Device Type
  - 7.4.5.5.4. Market size and forecast, by Application
  - 7.4.5.6. Rest of Asia-Pacific
  - 7.4.5.6.1. Key market trends, growth factors and opportunities
  - 7.4.5.6.2. Market size and forecast, by Component
  - 7.4.5.6.3. Market size and forecast, by Device Type
  - 7.4.5.6.4. Market size and forecast, by Application
7.5. LAMEA
- 7.5.1. Key trends and opportunities
- 7.5.2. Market size and forecast, by Component
- 7.5.3. Market size and forecast, by Device Type
- 7.5.4. Market size and forecast, by Application
- 7.5.5. Market size and forecast, by country
  - 7.5.5.1. Latin America
  - 7.5.5.1.1. Key market trends, growth factors and opportunities
  - 7.5.5.1.2. Market size and forecast, by Component
  - 7.5.5.1.3. Market size and forecast, by Device Type
  - 7.5.5.1.4. Market size and forecast, by Application
  - 7.5.5.2. Middle East
  - 7.5.5.2.1. Key market trends, growth factors and opportunities
  - 7.5.5.2.2. Market size and forecast, by Component
  - 7.5.5.2.3. Market size and forecast, by Device Type
  - 7.5.5.2.4. Market size and forecast, by Application
  - 7.5.5.3. Africa
  - 7.5.5.3.1. Key market trends, growth factors and opportunities
  - 7.5.5.3.2. Market size and forecast, by Component
  - 7.5.5.3.3. Market size and forecast, by Device Type
  - 7.5.5.3.4. Market size and forecast, by Application

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2022

CHAPTER 9: COMPANY PROFILES

9.1. ADT Inc.
- 9.1.1. Company overview
- 9.1.2. Key Executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
- 9.1.7. Key strategic moves and developments
9.2. Honeywell International Inc.
- 9.2.1. Company overview
- 9.2.2. Key Executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
- 9.2.7. Key strategic moves and developments
9.3. Johnson Controls International plc
- 9.3.1. Company overview
- 9.3.2. Key Executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
- 9.3.7. Key strategic moves and developments
9.4. Hangzhou Hikvision Digital Technology Co. Ltd.
- 9.4.1. Company overview
- 9.4.2. Key Executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
9.5. Abode Systems Inc.
- 9.5.1. Company overview
- 9.5.2. Key Executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Key strategic moves and developments
9.6. Vivint Smart Home Inc.
- 9.6.1. Company overview
- 9.6.2. Key Executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.6.7. Key strategic moves and developments
9.7. Frontpoint Security Solutions LLC
- 9.7.1. Company overview
- 9.7.2. Key Executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Key strategic moves and developments
9.8. Ingersoll Rand
- 9.8.1. Company overview
- 9.8.2. Key Executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
- 9.8.7. Key strategic moves and developments
9.9. Robert Bosch
- 9.9.1. Company overview
- 9.9.2. Key Executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
- 9.9.7. Key strategic moves and developments
9.10. Assa Abloy
- 9.10.1. Company overview
- 9.10.2. Key Executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Business performance
- 9.10.7. Key strategic moves and developments