Market Share of Smart Home Security Industry
The smart home security market is highly fragmented due to low entry barriers. The major players in the market are ADT Inc., Honeywell International Inc., Johnson Controls International PLC, Hangzhou Hikvision Digital Technology Co. Ltd, and Abode Systems Inc., among others. Further strategic partnerships and innovations are the driving force for the industry, and the market is evolving faster in terms of technology and features.
- July 2023 - Versuni, formerly known as Philips domestic appliances, has expanded into home safety products. The company launched its first-ever smart home security camera range in India, including three smart security cameras and a new Home Safety App. These new cameras help reduce false alarms, provide accurate alerts, and offer 24/7 control that allows viewing, recording, and responding to security events from anywhere.
- June 2023 - Volt, a smart home solutions provider, formed a strategic partnership with Ring, an Amazon company, as a preferred Ring dealer. With this collaboration, Volt will get customers enhanced access to Ring’s popular smart home security products, such as video doorbells and security cameras.
- March 2023 - ADT Inc., among the most trusted brands in smart home and small business security, made available the new ADT Self Setup Smart Home Security System, which is the most advanced and complete DIY system and the first fully integrated DIY offering from ADT and Google. The new system integrates Google Nest smart home products with ADT security and life safety technology as well as ADT SMART Monitoring with the convenient control of the new ADT+ app.
Smart Home Security Market Leaders
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ADT Inc.
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Honeywell International Inc.
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Johnson Controls International PLC
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Hangzhou Hikvision Digital Technology Co. Ltd
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Abode Systems Inc.
*Disclaimer: Major Players sorted in no particular order
