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Advancement In Security Devices Is Envisioned To Flourish The Growth Of Home Wi-Fi Security Device Market In Near Future

By inewswire

"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."
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.

The global home wi-fi security device market is segmented into product such as electronic and smart locks, security alarms, security cameras and sensors and detectors. Among these segments, cameras segment is expected to witness significant growth during the forecast period i.e. 2016-2023. Additionally, cameras segment is riding on the back of increasing usage of camera for home security and introduction of automated security cameras. Further, electronic and smart locks are believed to grow at tremendous pace owing advancement in locks technology such as smart door locks.

The global home wi-fi security device market accounted USD 29,256 Million in 2015. Global home wi-fi security device market is expected to register a significant CAGR over the forecast period. Moreover, the home wi-fi security device market is expected to expand on the back of increasing prevalence of criminal activities.

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In terms of regional platform, with 48% share in overall home wi-fi security device, North America region captured largest market aided by U.S. Moreover, the factors propelling the growth of North America region includes presence of modern infrastructure and presence of tech savvy population. Apart from this, Asia-Pacific region is expected to showcase a lucrative growth of Home Wi-Fi Security Market over the forecast period of 2016-2023 owing to presence of emerging economies such as India and China.

Rapid growth real estate sector

Growing population across the globe has augmented the demand for new houses which in turn propel the growth of residential real estate sector. Moreover, rapid urbanization coupled with changing lifestyle of the consumer has encouraged the population to adopt advance security system for their homes which is likely to boost the demand for home wi-fi security device. These factors are envisioned to flourish the growth of home wi-fi security device market by the end of 2023.

Increasing concern for safety and security

Increasing incidences of criminal activities such as robbery and others all across the globe along with growing concern for security among the population is predicted to supplement the growth of home wi-fi security device market. Furthermore, advancement of technology in security devices, growing demand for modular homes with smart Wi-Fi security systems and swelled disposable income of the consumer are some of the factors positively impacting the growth of home wi-fi security device market.

However, presence of low speed wi-fi systems along with high data cost in many under-developed nations leads to connectivity issues with the integrated Wi-Fi security system which is anticipated to hamper the growth of home wi-fi security device market during the forecast period.

The report titled “Home Wi-Fi Security Device Market: Global Demand Analysis & Opportunity Outlook 2023delivers detailed overview of the global home wi-fi security device market in terms of market segmentation by product 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.

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This report also provides the existing competitive scenario of some of the key players of the global home wi-fi 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 global home wi-fi 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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