Research Nester has recently announced the addition of the”Home Wi-Fi Security Device -Global Demand Analysis & Opportunity Outlook 2023” after studying Home Wi-Fi Security Device the market situation and anticipating the future trends, the research provides a concrete platform for the existing and new players looking to enter into the market. The study provides information about market scenario of forecast period by analyzing the current situation.
Global Home Wi-Fi Security Device Market Overview
On the back of a significant rise in concern related to safety and security of residential commodity across the globe, Home Wi-Fi Security Market is one of the growing markets across the globe.
Home Wi-Fi Security system enable the user to operate the security system through electronic devices such as mobiles and tablets with enabled Wi-Fi system which helps to secure the homes far away also.Improvement in modern infrastructure with safety and security systems and Wi-Fi penetration is expected to raise the demand for home Wi-Fi security system globally. Apart from this, introduction of new and advanced technological security devices with integrated connectivity is expected to attract consumers in order to adapt these devices for security purposes. In addition to that, monitoring of residences from remote locations eases users to maintain the security and minimize the worries of the consumers.
Further, hectic and busy lifestyle due to rising urbanization is expected to expand the adaptation of home Wi-Fi security systems in order to maintain the security of their goods and residences.
Rapid growth in residential infrastructure and changing trend of residential sector players by providing in-built smart locks and other security devices for the security of residences would bid a boost to the consumers to adapt the technology.
Growth Drivers and challenges
Advancement of technology in security devices and introduction of new night vision and automated rotating security cameras is expected to raise the demand for home Wi-Fi security across the globe over the forecast period 2016-2023
Rapid growth in residential real estate sector due to growing population and need of modular homes with smart Wi-Fi security systems is expected to spur the demand for smart home Wi-Fi security globally. Furthermore, rising incidents of thefts in urban regions across the globe would force the consumers to opt for smart home Wi-Fi security to secure the residences through remote monitoring.
In addition to that, rising penetration of smartphones and tech savvy population across the globe is expected to trigger the demand for home Wi-Fi security systems worldwide during the forecast period 2016-2023.
However, the diversity of smartphones and security systems that results to non-compatibility issues are expected to hinder the growth of home Wi-Fi security market across the globe over the forecast period 2016-2023. Additionally, presence of low-speed Wi-Fi systems and high data cost in many under-developed nations leads to connectivity issues with the integrated Wi-Fi security system which will further restraint the growth of home Wi-Fi security market across the globe.
Market size & forecast
The global home Wi-Fi security market is expected to expand at a CAGR of >8 % during the forecast period 2016-2023. The market is expected to reach at a decent number by 2023 from USD 29,256 Million in 2015.
North-American region is expected to showcase a lucrative growth of Home Wi-Fi Security Market over the forecast period of 2016-2023. North America home Wi-Fi security market contributed the largest share by contributing 48% in the total revenue of market in 2014 across the globe and it is expected to maintain its dominance over the forecast period 2016-2023.
On the back of factors like increased tech savvy population, rise in personal disposable income, boost in the real estate industry etc., Asia-Pacific home Wi-Fi security market is expected to expand at a rapid pace during the forecast period 2016-2023.
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