Home Wi-Fi Security Device Market Size

Home Wi-Fi Security Device Market size is likely to expand at more than 22.7% CAGR during the forecast period i.e., between 2024-2036.

Further, the home Wi-Fi security device market generated a significant revenue in the year 2021. The growth of the market is primarily attributed to the worldwide increasing safety and security concern for residents and residential goods. For instance, in 2020, approximately USD 17 billion worth property was reported stolen.

Home Wi-Fi Security devices encompass smart home security devices and related services that allow the user to operate the security system via Wi-Fi enabled devices such as mobile phones, tablets, smart watch, and voice, which helps to secure homes from a distance as well. Such type of Wi-Fi security device is a combination of software and hardware devices designed to detect intervention or unauthorized access if a secure zone is infringed. Therefore, increasing number of smart homes with integrated smart home Wi-Fi security devices is leading the demand of these home Wi-Fi security device market. For instance, there were approximately 260.55 million smart homes in the world by the end of 2021.