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LONDON, GREATER LONDON, UNITED KINGDOM, November 22, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The smart home security market has expanded exponentially, growing from $3.96 billion in 2023 to $4.79 billion in 2024 at a CAGR of 20.7%. Growth drivers include safety concerns, consumer awareness, remote monitoring, and integration with smart home systems.
How Much Will the Global Smart Home Security Market Grow, and What Is the Predicted Annual Growth Rate?
The smart home security market is expected to see exponential growth, reaching $10.4 billion by 2028 at a CAGR of 21.4%. Growth factors include AI and ML integration, data privacy concerns, and DIY installations. Trends include behavioral analytics, cybersecurity education, and law enforcement collaboration.
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What Are The Top Drivers Contributing To The Growth Of The Smart Home Security Market?
The rising number of internet users is expected to drive the growth of the smart home security market. Internet users, individuals who access and utilize the global network, facilitate remote monitoring and control of smart home security systems. This enables real-time alerts and device integration, enhancing both security and convenience.
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Which Companies Are Leading Growth in the Smart Home Security Market?
Major companies operating in the market report are Amazon.com Inc., Apple Inc., Google LLC, Alphabet Inc., Comcast Corporation, AT&T Inc., Robert Bosch GmbH, United Technologies Corporation, Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., G4S plc, Assa Abloy AB, ADT Inc., Ingersoll Rand Inc., Vivint Smart Home Inc., NETGEAR Inc.
What Are the Key Trends Defining the Smart Home Security Market Size?
Smart home security systems manufacturers are integrating AI-based visual recognition technology into devices like video cameras to enhance security through facial, fingerprint, and voice recognition.
What Are The Key Segments Of The Global Smart Home Security Market?
1) By Product: Smart Alarms, Smart Camera And Monitoring System, Smart Locks And Sensors, Smart Detectors
2) By Component: Hardware, Software, Service
3) By Application: Independent Homes, Apartments, Condominiums
Geographical Highlights: Asia-Pacific Leading Smart Home Security Market
The Asia-Pacific was the largest region in the smart home security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market report during the forecast period. The regions covered in the smart home security report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Scope Of The Smart Home Security Market Overview?
Smart home security systems consist of components that enable users to remotely monitor their homes in real-time and receive alerts for unusual activities or unauthorized access.
The Smart Home Security Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Smart Home Security Market Report: Trends, Opportunities, Strategies, and More
The Smart Home Security Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into smart home security market size, smart home security market drivers and trends, smart home security global market major players, smart home security competitors' revenues, smart home security global market positioning, and smart home security market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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