Between 2017 and 2022, the value of the home security monitoring and device market is set to triple in size. IDC estimates that the market was valued at around 4 billion dollars in 2017. By 2022, the value of the market was set to triple to 12 billion dollars.
Home monitoring and security devices
are an inclusive and wide-reaching category encompassing everything from cameras and door bells to moisture sensors. IDC attributes
the projected growth to a switch in attitude by consumers toward home monitoring devices. Due to the difficulty of installation and integration with other devices, consumers currently hold a reluctant, “DIY attitude” to the devices and shipment. As these devices become easier to incorporate into the smart home at large, IDC expects the value and the uptake of these devices to soar.
, the technologically connected modern home, is set to grow in the coming years as financial, integration, and installation costs drop for consumers.