Global Smart Home Security Market Forecast to 2023 Global Smart Home Security Market | Page 24

Executive Summary
Market
The
Global
Smart
Drivers & Challenges
Home
Security
market was valued at USD 8588.64
Drivers
 Increase
 Rising urbanisation
 Competitive Pricing
 Growing popularity of Smart Homes
billion in the year 2017 with North
America
region
leading
the
market
share.
 Rising standard of living
 Increasing
expected to grow further by CAGR
product
 Technological
 Growing
visibility
spending
of
advancements
and
ubiquity
of
smart
home
and
Challenges
 Lack of awareness of intelligent security
solutions
15.56% in the forecast period 2018-
capita
innovations
consumer recognition

per
consumers
across the globe
The market grew at CAGR 14.92%
during the period 2013-2017 and is
Trends
devices
 Increasing
DIY
Home
security
systems
 Adoption of Cloud based technologies
 Highly competitive market
2023.
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