Remote Home Monitoring Systems Market size was over USD 32.81 billion in 2023 and is expected to cross USD 206.48 billion by the end of 2036, witnessing more than 15.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of remote home monitoring systems is estimated at USD 36.8 billion.
Remote monitoring systems include a vast range of monitor and control home devices such as lights, windows, home appliances, security alarms, utility meters, thermostats, doors, and other devices, which is expected to drive market growth. Furthermore, the growth of the market can also be attributed to the rapid increase in the use of connected devices and smartphones. Additionally, the integration of IoT and wireless technologies in smart homes has also broadened the use of remote home monitoring systems in the recent years.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
15.2% |
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Base Year Market Size (2023) |
USD 32.81 billion |
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Forecast Year Market Size (2036) |
USD 206.48 billion |
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Regional Scope |
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The remote home monitoring systems market is segmented based on systems into video surveillance systems, fire protection systems, entrance control systems, access control systems, intruder alarm systems, and others, out of which, the video surveillance system segment is anticipated to grab the most significant share by the end of 2029 on account of growing theft rates and major advancements in video camera quality, recording capability, and affordability of this system.
Based on operating system, the android segment in the global market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that open-source software is installed on android smartphone devices for free. As a result, a considerable portion of the population worldwide tend to choose android operating systems as it offers more features to users.
Our in-depth analysis of the global market includes the following segments:
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By Systems |
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By Sensors |
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By Installation |
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By Operating System |
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Geographically, the remote home monitoring systems market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in North America industry is set to hold largest revenue share by 2036, due to advancements in technology and growth in the adoption of home automation products in the region to achieve a high standard of living and security. As per the analysis of National Association of Home Builders (NAHB), in 2019, 46% of US-based Millennials have at least one smart home products in the United States. Furthermore, Asia-Pacific is expected to be the fastest-growing market with a significant CAGR followed in the forecast period. The region’s market is expected to witness growth owing to rapid urbanization with the development of smart cities. Besides this, smart home evolution and mass commercialization have led to a large-scale modification in this market.
Author Credits: Abhishek Verma
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