Source: Statista
Security systems are a key component of any modern smart home ecosystem. These days, they come in many forms whether it's a wireless doorbell equipped with a camera that allows you to monitor visitors from any location on the planet to sophisticated alarms that are connected to the emergency services. Diagnostic equipment warning owners of hazardous events within the home such as broken water pipes or fire have also become crucial aspects of any smart home.
Unsurprisingly, the value of the smart home security sector has been rising noticeably in recent years. Revenue for 2021 is forecast to be $5 billion and that is expected to rise to $8.2 billion by 2025 according to data from the Statista Digital Market Outlook.
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