Smart Home Security Global Market Estimated To Grow At 21% Rate
The Business Research Company’s Smart Home Security Global Market Report 2022: Market Size, Trends, And Forecast To 2026
LONDON, GREATER LONDON, UK, October 27, 2022 /EINPresswire.com/ — The reports have been updated with the most recent Ukraine-Russia War impact on market growth for all 27+ industries. The reports also provide possible solutions and opportunities for surviving this crisis.
As per The Business Research Company’s “Smart Home Security Global Market Report 2022”, the smart home security market share is predicted to reach a value of $2.69 billion in 2021 to $3.27 billion in 2022 at a compound annual growth rate (CAGR) of 21.60%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The smart home security systems market size is expected to reach $6.81 billion in 2026 at a CAGR of 20.10%. The smart home security market growth is driven by increasing crime rates across the globe.
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Key Trends In The Smart Home Security Market
Smart home security systems manufacturers are increasingly integrating technologies with visual recognition based on AI (Artificial Intelligence) in security devices. AI is developing to a new stage where the security confirmation and authentication will be processed from face and visual recognition. Home security systems such as consumer video cameras are integrated with AI technology with a new security validation framework to enhance safety and security through facial recognition, fingerprints and voice recognition. AI is proposed to be applied in smart alarms to create databases of all incoming alerts, which then could be analyzed to predict false alarms.
Overview Of The Smart Home Security Market
The smart home security systems market consists of sales of smart home security devices and related services. Smart home security devices can be connected to Wi-Fi and accessed from anywhere using smartphones, smartwatch or voice. The security devices produced includes devices such as smart alarms, smart cameras, smart locks, smart detectors, and others. This market does not include the installation of these devices and/or integration with the home set-up.
Learn more on the global smart home security market report at:
https://www.thebusinessresearchcompany.com/report/smart-home-security-global-market-report
Smart Home Security Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Smart Home Security Market Segmentation
• By Product: Smart Alarms, Smart Camera And Monitoring System, Smart Locks And Sensors, Smart Detectors
• By Application: Independent Homes, Apartments, Condominiums
• By Component: Hardware, Software, Service
• By Geography: The global smart home security market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as ADT, Amazon, Honeywell International, Hangzhou Hikvision Digital Technology, Frontpoint Security Solutions, Ring, Samsung, Vivint Smart Home Security, Simpli Safe.
Trends, opportunities, strategies and so much more.
Smart Home Security Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides a smart home security global market analysis, smart home security market outlook and an overview of smart home security global market. The market report analyzes smart home security global market size, smart home security market growth drivers, smart home security global market segments, smart home security global market major players, smart home security market growth across geographies, and smart home security market competitors’ revenues and market positioning. The smart home security market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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