Technavio has been monitoring the connected home security system market and it is poised to grow by USD 11.09 bn during 2020-2024, progressing at a CAGR of over 17% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Connected Home Security System Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions:
What is the major trend in the market?
Increase number of homes using broadband is a major trend driving the market growth.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 13.47% and the incremental growth of the market is anticipated to be $ 11.09 bn
Who are the top players in the market?
ADT Inc., Alarm.com Holdings Inc., Alphabet Inc., AT&T Inc., Comcast Corp., Honeywell International Inc., Ooma Inc., Panasonic Corp., Samsung Electronics Co. Ltd., and Verizon Communications Inc, are some of the major market participants
What is the key market driver?
Cost savings due to effective monitoring technology is driving the growth of the market is the major factor driving the market
How big is the North America market?
The North America region will contribute 34% of the market share
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ADT Inc., Alarm.com Holdings Inc., Alphabet Inc., AT&T Inc., Comcast Corp., Honeywell International Inc., Ooma Inc., Panasonic Corp., Samsung Electronics Co. Ltd., and Verizon Communications Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Cost savings due to effective monitoring technology has been instrumental in driving the growth of the market.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Connected Home Security System Market 2020-2024: Segmentation
Connected Home Security System Market is segmented as below:
- Cameras And Monitoring Systems
- Locks And Sensors
- North America
- South America
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Connected Home Security System Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The connected home security system market report covers the following areas:
- Connected Home Security System Market Size
- Connected Home Security System Market Trends
- Connected Home Security System Market Industry Analysis
This study identifies an increase in the number of homes using broadband as one of the prime reasons driving the connected home security system market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Connected Home Security System Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist connected home security system market growth during the next five years
- Estimation of the connected home security system market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the connected home security system market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of connected home security system market, vendors
Table of Contents:
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Alarms – Market size and forecast 2019-2024
- Cameras and monitoring systems – Market size and forecast 2019-2024
- Locks and sensors – Market size and forecast 2019-2024
- Detectors – Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Service
- Market segments
- Comparison by Service
- Professional installation – Market size and forecast 2019-2024
- Self-installation – Market size and forecast 2019-2024
- Market opportunity by Service
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Volume Driver – Demand led growth
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ADT Inc.
- Alarm.com Holdings Inc.
- Alphabet Inc.
- AT&T Inc.
- Comcast Corp.
- Honeywell International Inc.
- Ooma Inc.
- Panasonic Corp.
- Samsung Electronics Co. Ltd.
- Verizon Communications Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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