Growing security concerns and increasing smart homes market are a few factors driving the growth of security services market for smart homes, whereas, high installation costs is inhibiting its growth.
Growing Safety Concerns
Integrating many devices in smart homes not only makes our life easier but also, makes it prone to various security concerns, such as theft and extortion. A hacker might hack into your smart things system and get access to various sensors and cameras. The hacker might even change the security passwords. With the number of cyber-attacks on the global scale growing, the concerns regarding the security and safety of connected systems are growing in the market. Companies, thus, are focusing heavily on the security aspect of the smart homes so as to build confidence among the consumers buying this product.
With the increase in smart homes, the prominence of video surveillance has increased. The ability to monitor a smart home from remote location on real-time basis is fuelling the demand of this market. As per FBI, in 2016, the burglary rates dropped by 7.8% due to increase in installation of video surveillance systems. With security being the concern in smart homes, the security services market in smart homes is bound to grow.
Key Developments in the Market
- January 2018 - Interlogix, brand of UTC, introduced New UltraSync™ SmartHome System to provide homeowners with more convenient, improved home security and automation solutions
- April 2017 - Control4 Corporation launched the new Pakedge PowerPak family of power control devices. PowerPak PDUs provide centralized power control and management with surge protection for all equipment in a connected home
Reasons to Purchase this Report
- To know how various factors are driving the market with respect to the global market scenario
- To analyze various market perspectives, with the help of Porter’s five forces analysis
- To understand, which of the regions is expected to witness the fastest growth rate during the forecast period
- To identify the latest developments, market shares, and strategies that are employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Factors Driving the Market
4.2.1 Growing Safety Concerns
4.2.2 Incresaing Smart Homes Market
4.2.3 Decreasing Costs of Sensors
4.3 Factors Restraining the Market
4.3.1 High Installation Costs
4.4 Industry Attractiveness - Porter's Five Industry Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products or Services
4.4.5 Competitive Rivalry among Existing Competitors
5. Technology Snapshot
6. Security Services Market for Smart Homes Segmentation
6.1 By Product
6.1.1 Video Surveillance
184.108.40.206 Security Cameras
220.127.116.11 Storage Devices
6.1.2 Access Control
18.104.22.168 Facial Recognition
22.214.171.124 Fingerprint Recognition
126.96.36.199 Iris Recognition
6.2 By Installation
6.2.1 Professional Installation
6.3 By Geography
6.3.1 North America
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
6.3.4 Middle East & Africa
220.127.116.11 Saudi Arabia
18.104.22.168 Rest of Middle East & Africa
6.3.5 Latin America
22.214.171.124 Rest of Latin America
7. Competitive Intelligence - Company Profiles
7.1 ADT Security Services
7.2 AT&T Inc.
7.3 Comcast Corporation
7.4 Vivint, Inc.
7.5 Tyco Security Products
7.6 Control4 Corporation
7.7 Honeywell International Inc.
7.8 Smart home Inc.
7.9 United Technologies Corporation
7.10 iControl Networks, Inc.
8. Investment Analysis
9. Future Outlook of Security Services Market for Smart Homes
- ADT Security Services
- AT&T Inc.
- Comcast Corporation
- Vivint Inc.
- Tyco Security Products
- Control4 Corporation
- Honeywell International Inc.
- Smart home Inc.
- United Technologies Corporation
- iControl Networks Inc.