Home Wifi Security Device Market Will Multiply At An Impressive CAGR Of 8% By 2023 & Top Key Players ASSA ABLOY, UTC Fire and Security, Bosch Security Systems, Honeywell International Inc., Godrej & Boyce Manufacturing Co. Ltd., Blink, Nest Labs, Netgear

The home wifi security device market is segmented by products into electronic and smart locks, security alarms, security cameras, sensors and detectors. Among these segments, the security cameras segment is anticipated to dominate the home wifi security device market in upcoming years. Smart locks and security alarms segments is anticipated to grow at a robust growth over the forecast period. This can be attributed to significant rise in concerns related to safety and security in residential sector across the globe. Further, improvement in modern infrastructure with safety and security systems combined with Wi-Fi penetration is expected to raise the demand for home Wi-Fi security systems globally. These factors are envisioned to strengthen the growth of Home Wifi Security Device Market during the forecast period.

The global market for home wifi security device is anticipated to reach a decent number by 2023 as compared to USD 29,256 Million in 2015 by expanding at a CAGR of around 8% over the period 2016-2023. This can be attributed to rising awareness among consumers regarding their safety. The monitoring of residences from remote locations eases users to maintain the security and minimize the worries of the consumers. 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 which is further expected to boom the home wifi security device market by noteworthy revenue by the end of 2023.

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In regional segment, North-American region is expected to showcase a lucrative growth of Home Wi-Fi Security Market over the forecast period. North America home Wi-Fi security market contributed the largest share by contributing 48% in the total revenue of market in 2014 and is expected to maintain its dominance over the period 2016-2023. Further, factors such as increase in tech savvy population, rise in personal disposable income and boost in the real estate industry among others is anticipated to drive the market of Asia-Pacific to expand at a rapid pace over the forecast period.

Residential Real Estate to Boom the Market

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 systems 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. This factor is believed to supplement the growth of home wifi security device market in near future. However, presence of low speed wi-fi systems, high data cost and non-compatibility issues between the smartphones and security systems are some of the factors that are likely to inhibit the growth of the home wifi security device market in the near future.

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The report titled “Home WiFi Security Device Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the home wifi security device market in terms of market segmentation by product demand analysis and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the home wifi security device market which includes company profiling of ASSA ABLOY, UTC Fire and Security, Bosch Security Systems, Honeywell International Inc., Godrej & Boyce Manufacturing Co. Ltd., Blink, Nest Labs, Netgear Inc. and Dojo-Labs.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the home wifi security device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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