DUBLIN--(BUSINESS WIRE)--The "Smart Home Security Market in the US by Product" report has been added to ResearchAndMarkets.com's offering.
Smart Home Security Market in the US by Product
US demand for smart home security products is expected to increase 10.0% per year to 11.0 billion in 2025
Driving gains will be the greater cost, installation, and performance efficiencies of smart home security devices compared to traditional types, which will appeal to a broader range of consumers, as well as the growing ubiquity of smart home devices overall.
All Smart Home Security Products to Register Rapid Growth Through 2025
Smart Home Security
Gains will be driven by technological innovation, competitive pricing, and increasing consumer familiarity with smart devices overall and optimism (however cautious) about the potential solutions they may provide. Furthermore, the cost effectiveness, ease-of-installation, and ease-of-use of smart home security systems compared to traditional types will encourage adoption across a wider range of consumer demographics.
Key Findings in the Smart Home Security Market
Best Opportunities Expected for Devices with Multiple Security Features
Given the enhanced efficiencies of smart home security systems, devices with multiple security features, such as all-in-one smart home security systems and smart security cameras with integrated alarm systems, will continue to lead the market. For example, all-in-one systems and kits represented 64% of total demand in 2017 and will remain the leading product type through 2025; however, this segment will lose market share over the forecast period, as an increasing number of consumers select more individual components, such as smart security cameras and locks, to fill out extant systems.
Smart Locks to See Fastest Growth, Driven by Rollout of In-Home Delivery Services like Amazon Key
Smart home security locks and access controls are projected to see the fastest gains of the forecast period, nearly 24% per year to $2.0 billion in 2025. Sales will benefit from the expansion of in-home delivery services such as Amazon Key, as well as the growing popularity of video doorbells.
Rapid M&A Activity Reflects the Influx of a Hot Growth Market
Recent significant activities – e.g., Amazon’s $1.1 billion acquisition of leading video doorbell supplier Ring and Alarm.com’s acquisition of iControl’s Piper business unit – indicate that leaders in both the tech and traditional home security industries are investing heavily to penetrate the smart home security market. Competition will intensify as the market continues to consolidate and actions are taken to highlight one product mix over another (e.g., Amazon announced that it will cease selling new Nest Labs’ (Alphabet) Nest smart home devices; in turn, Nest Labs announced plans to pull all Nest devices from Amazon).
Smart home security products covered in the study include:
- Smart home speakers and hubs
- All-in-one smart home security systems and multi-component kits
- Smart home security cameras and video doorbells
- Smart home safety and security alarms
- Smart home locks and access controls
The study also compares global and US market size for smart home security products and presents overviews for the following segments of the overall US security market:
- Electronic security products
- Video surveillance products
- Safety and security alarms
- Access control systems
- Scope of the Report
This report covers the scope, size, and growth of the US smart home security market including key trends in product mix and technological innovation. Historical data are provided for 2016 and 2017, along with forecasts for 2018 and 2025. Data are provided in both volume and value terms. Also included is an analysis of the leading industry key players, their market activities, and their recent or forthcoming product introductions.
For more information about this report visit https://www.researchandmarkets.com/research/jr9sjs/united_states?w=4
