Worldwide Smart Home Monitoring and Security Forecast Update, 2020–2024: CY 4Q20
This IDC study provides the updated worldwide smart home monitoring and security market forecast for 2020–2024."In the home monitoring and security market, the managed services segment is a long play incurring higher initial investment but with higher potential payoffs, whereas the DIY segment can more quickly acquire customers and near-term revenue but with lower margins and a larger set of competitors," says Adam Wright, senior research analyst, IDC's Internet of Things Consumer research program. "Successful managed solution vendors, as well as DIY vendors now offering managed services, will need to deliver a high-value service promise to justify the relatively high costs compared with many a la carte DIY solutions."
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