Smart Home technology is a multi-billion dollar market that is poised for rapid growth over the next few years. Next to home automation, entertainment and energy management, home security is one of the main drivers behind the market’s growth. In fact, Statista’s analysts expect smart security solutions, such as connected cameras, locks or motion detectors to become the largest segment of the U.S. Smart Home market by 2018.
As their chart illustrates, Americans are spending much more money on Smart Home security solutions than people from the UK or Germany do. Interestingly, Americans outspend the British more than 3 to 1 even though the danger of having your home burglarized is nearly identical.
To find out more about Smart Home Security, including a definition of the market and revenue forecasts for several regions, please download our free market report: “Smart Home: Security”.