Demand for All-In-One Smart Home Security Systems to Grow 26% by Year-End 2018
More information about this study is here: https://www.freedoniagroup.com/industry-study/smart-home-security-market-in-the-us-by-product-3639.htm
Other factors driving gains include:
- competitive pricing
- consumer optimism about smart home devices overall and the potential solutions they may provide
- enhanced analytics features and IoT integration
- greater cost-effectiveness, ease-of-installation, and ease-of-use compared to traditional home security options
- increasing product visibility and consumer recognition
The most significant driver of consumer adoption is the potential cost savings. Not only are home insurers monitoring domotic data gathered by IoT devices to gauge a customer's level of risk, reduce claims, and, in turn, lower premiums – homeowners are leveraging the data to prioritize maintenance tasks before they turn into expensive problems.
The convenience and low cost of all-in-one products compared to traditional systems encourage adoption among consumers who are less likely to invest in home security. Market competition and technological innovation resulting in the continual release of higher value-added devices with enhanced features will continue to exert downward pressure on prices for earlier-generation devices in the near term.
Related studies include:
- #3594 Safety & Security Drones in the US (
December 2017 ) - #3566 Electronic Security Products US Market Forecasts (
September 2017 )
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