LONDON–(BUSINESS WIRE)–The global connected home security systems market size is poised to grow by USD 11.09 billion during 2020-2024, progressing at a CAGR of over 17% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Cost savings due to effective monitoring technology combined with increased adoption of smartphones will offer immense growth opportunities.
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- North America was the largest connected home security systems market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The US and Canada are the key markets for connected home security systems in North America.
- The global connected home security systems market is fragmented. 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 help clients improve their market position, this connected home security systems market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global connected home security systems market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/connected-home-security-system-market-industry-analysis
Increasing Number of Homes Using Broadband will be a Key Market Trend.
The high cost of home security solutions, privacy and security concerns, and lack of standards for manufacturing security solutions may impede market growth.
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Connected Home Security Systems 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 Systems Market growth during the next five years
- Estimation of the Connected Home Security Systems 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 Systems 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 Systems Market vendors
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- 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
- Market challenges
- Market trends
- 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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