Smart Home Security Global Market Report 2022: Developments Such As Visual Recognition Based On AI Show High Potential
Global smart home security market
Dublin, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The 2022 Global Smart Home Security Market Report, Products, Applications, Components has been added to ResearchAndMarkets.com's offering.
The global smart home security market is expected to grow at a Compound Annual Growth Rate (CAGR) of 21.6% from USD 2.69 billion in 2021 to USD 3.27 billion in 2022. The market is expected to reach $6.81 billion by 2026 at a CAGR of 20.1%.
The modern home security market is driven by increasing crime rates worldwide. With crime rates on the rise, consumers are becoming increasingly aware of security systems, especially in residential areas. Smart home devices such as smart alarm clocks, smart cameras and smart wardrobes are preferred by households to make them safer and more reliable.
According to burglary statistics, 88% of all burglaries occur in residential areas, and there is a 300% chance of burglaries in homes without a security system. According to NCRB crime statistics 2019, 1,833 violent crimes were reported in Himachal in 2019.
The high cost of installing smart home security devices is slowing down the growth of the smart home security market. As the technology is relatively new, the cost of installing a modern home security system and other associated costs such as utilities, maintenance and technical repairs are high.
The cost of home security equipment depends on the installation plan and land area. Alarm systems and CCTV cameras are more expensive to install than modern home security devices. A basic smart home security system that includes an intruder alarm, thermostat, outdoor lights, and remote reverse lock costs $2,500. And the state-of-the-art home automation and security system cost $1.8 million. For example, the cost range to install a basic security camera in 2019 is $663-2019.
Smart home security system manufacturers are integrating AI (artificial intelligence) based visual recognition technology into their security devices. AI is moving to a new phase where security verification and authentication is done based on facial recognition and visual perception.
The story continues
Home security systems such as consumer video cameras are integrated with artificial intelligence, with a new security filter framework to improve facial recognition, fingerprints and voice recognition. AI is said to be used in smart alarm clocks to create a database of all incoming alarms.
California Senate Bill 327 outlines security standards that must be followed for all Internet-connected devices, including smart home security systems. The bill would require manufacturers of such devices to implement appropriate security features designed to prevent unauthorized access, modification or disclosure of information.
The bill states that data collected by the device must be adequately protected against unauthorized use. If the device is to be used outside the local network, the user must create a new password in addition to the default password assigned to prevent hacking attacks. The law will go into effect on January 1, 2020 in California, United States.
Markets Covered: 1) By Product: Smart Alarm; Smart camera and surveillance system; Smart locks and sensors; Smart detector 2) by application: private house; an apartment Condominio 3) by rooms: utilities; software; serve
Main topics:
1. Next
2. Characteristics of the smart home security market
3. Smart Home Security Market Trends and Strategies
4. The impact of Covid-19 on the security of smart homes
5. Smart Home Security Market Size and Growth
6. Smart Home Security Market Segmentation Smart Home Security Market Regional and Country Analysis
8. Asia Pacific Smart Home Security Market
9. China's modern home security market
10. Modern home security market in India
11. Japan's modern home security market
12. Australian Smart Home Security Market
13. Smart home security market in Indonesia
14. South Korea's modern home security market
15. Smart home security market in Western Europe
16. UK Smart Home Security Market
17. The German smart home security market
18. The modern home security market in France
19. The modern housing market in Eastern Europe
20. Modern home security market in Russia
21. North America Smart Home Security Market
22. US Smart Home Security Market
23. The modern housing market in South America
24. Brazil Smart Home Security Market
25. Middle East Smart Home Market
26. Africa Smart Home Security Market
27. Smart Home Security Market Competitive Landscape and Company Profiles
28. Major mergers and acquisitions in the smart home security market
29. Smart Home Security Market Outlook and Potential Analysis
30. Application
The company in question
- ATD
Amazon
Honeywell International
Hangzhou Hikvision Digital Technology
Frontend security solution
ring
Samsung
Vivian Smart Home Security
be good
Robert Bosch
Protect America
the alphabet
Apple
Comcast
Clean the tools
Skybell technology
Alert.com
The nut is connected
AT&T
August at home
google
the butterfly
Tyco Security products
Residential security
G4S
Laboratory cocoon
Legrand
Ingersoll Rand
For more information on this report, visit https://www.researchandmarkets.com/r/exl8r5.
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