Smart homes devices enhance home securitySmart home refers to a house in which interconnected devices and home appliances are performing certain actions in order to save money, time, and energy. A smart home can integrate a security alarm into a complex system that performs other actions such as blocking exits or providing access to surveillance footage via the Internet. In 2022, consumer spending on smart home related devices amounted to 127 billion U.S. dollars
The smart home security market is one of the most important smart home market segments valued at approximately 18.5 billion U.S. dollars in 2022. Security cameras and video doorbells are among the most common home security products, with Amazon’s Ring doorbell and Google’s Nest doorbell accounting for the highest smart doorbell market shares. Connected cameras and doorbells are usually designed as part of a particular smart home ecosystem and can generate ongoing revenues for the manufacturer in the form of a subscription fee to access saved recordings. Overall, in 2021, there have been nearly 185 million smart home device shipments for home monitoring and security.