According to the UnivDatos, the smart home security systems market has shown promising advancements and potential for widespread adoption in the future and as per their Smart Home Security Systems report, the global market was valued at USD 59.67 Billion in 2022, growing at a CAGR of 10% during the forecast period from 2023 - 2030 to reach USD billion by 2030.  

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Smart Home Security Systems! Powered by cutting-edge tech like AI, facial recognition, and cloud storage, these systems keep your home safe and accessible at your fingertips. Locks, cameras, and sensors seamlessly integrate to thwart intruders while granting remote control for peace of mind. Let's take a look at these top 11 promising startups that will never keep you lacking.

Ring

Developer of wireless frequency smart security devices created to reduce crime in the community. The company's devices feature wide-angle lenses, built-in microphones and speakers to see, hear and talk to anyone, allowing users to easily monitor every nook and cranny of their property. Ring has raised USD 203.7 million. Ring closed its last funding round on January 25, 2017 from a Series D round.  

SimpliSafe

Manufacturer of home security and surveillance products in Boston, Massachusetts. The company specializes in security systems, cameras, video doorbells, and smart locks against intruders, fire, water damage and medical emergencies. SimpliSafe raised USD387 million. SimpliSafe closed its last funding round on May 6, 2022, from its debt financing round. 

Arlo Technologies

Arlo Technologies Inc is engaged in providing security and video surveillance solutions for homes and businesses. Its product portfolio includes Arlo Security Camera, Arlo Q and Arlo Q Plus, Arlo Pro, Arlo Baby, Arlo Audio Doorbell and Arlo Chime, and Arlo Security Light. The company operates and generates revenue in all geographies: USA, Spain, Ireland and other countries. Geographically, the company derives most of its revenue from the United States.

Wyze Labs

Smart home product developer designed to provide automated home security services to customers. The company's products include cameras and accompanying electronics, including infrared night vision, motion detection, voice activation, and two-way audio, allowing customers to self-monitor the important parts of their property. Wyze Labs has raised USD 155 million. Wyze Labs closed its last funding round on July 30, 2021 from a Series B round.

 Abode Systems 

Home security and automation systems provider designed to help people stay connected to their homes whether they are at home or not. The company's system combines enterprise-grade security with smart home functionality and home automation tools to create a smart home security space, allowing users to choose short-term, on-demand monitoring without contract or commitment. Abode raised USD 20.3 million. Abode closed its last funding round on April 17, 2018 from a corporate funding round. 

Frontpoint

Manufacturer of wireless and portable home security devices to keep homes safe through interactive surveillance. The company provides automated system checks, crash and override protection, remote access and control, live video streaming, and night vision security through portable and openable devices. wide, mobile, wireless, allowing customers to benefit from clarity and reliability through personalized and reliable smart home systems. that meet the needs of each customer. Frontpoint was acquired by Twin Point Capital on October 9, 2020. 

Canary

A consumer SaaS IoT app developer designed to allow users to watch live anytime, anywhere. The company offers DIY smart home security and monitoring SaaS subscriptions that include 24/7 live video, AI-driven motion alerts, and video history, allowing customers to connect their homes to phone. Canary has raised USD 123.8 million. Canary closed its last funding round on July 6, 2020 from a corporate funding round. 

Vivint

Vivint Smart Home Inc is a smart home company based in the United States. The company is engaged in the sale, installation, maintenance and monitoring of smart home and security systems. The Company's products and services include home automation and security systems, smart security cameras, one-touch departures, smart security sensors, and lighting and temperature control and monitoring. intelligence and continuous support. Vivint has raised USD1.3 billion. Vivint closed the last funding round on January 21, 2020 from the post-IPO seed round. 

August Home

The smart home access product developer is designed to give people control of their front door from anywhere in the world. The company offers smart lock products that allow users to create a virtual key for their home and easily grant access to anyone and control the duration of that access, all from their smartphones, allowing homeowners to improve the security of their homes. August Home has raised USD 73 million. August Home closed its last funding round on July 26, 2017 from a Series C round.

Kangaroo

Developer of intelligent security systems to warn users in case of theft or break-in from outside as well as notify authorities. The company's systems are standalone alarm devices connected to apps that send instant alerts to homeowners to notify them of unwanted intrusions, allowing homeowners to stay safe and protect their home. Kangaroo raised a total of USD 15.1 million in funding in 6 rounds. Their most recent funding round was on January 1, 2023 from a venture round – Series Unknown. 

Notion

The developer of a wireless home monitoring system designed to provide complete home monitoring through a single multifunction sensor. The company's offerings include data analytics, an intuitive user experience, and an all-in-one Oreo-sized sensor that enables real-time alerts ranging from motion and temperature to water leaks and alarms. Allows customers to be notified of problems at home instantly. Notion has raised a total of USD 16.1 million in funding in 8 rounds. Their last funding was raised on June 13, 2017 from a Series A round. 

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Key breakthroughs

Advanced Encryption: Stronger encryption methods were implemented to secure communication between devices, reducing the risk of unauthorized access.

Two-Factor Authentication: Adding an extra layer of security by requiring users to provide a second form of identification, like a code sent to their phone, before granting access.

Artificial Intelligence (AI) Integration: AI-powered algorithms were used to improve anomaly detection, distinguishing between normal and potentially malicious activities.

Facial Recognition: Smart home security cameras incorporated facial recognition technology, enhancing the ability to identify and track intruders.

Voice Recognition: Strengthening authentication measures by using voice recognition to verify the identity of authorized users.

Multi-Sensor Integration: Integrating various sensors (motion, door/window open-close, smoke, C02, etc.) to provide comprehensive security coverage.

The cradle of Innovation

Starboy: Blinding Lights

Vivint Named "Home Security Company of the Year" in Seventh Annual IoT Breakthrough Awards Program A leading North American smart home company has been selected as "Home Security Company of the Year" in the seventh annual IoT Breakthrough Awards program. The program is led by IoT Breakthrough, a leading market intelligence organization that recognizes the best companies, technologies and products in today's global Internet of Things (IoT) market. 

Conclusion

Smart home security systems have seen significant advancements and breakthroughs over the years, enhancing the safety and convenience of modern households. The integration of cutting-edge technologies like advanced encryption, AI-powered anomaly detection, facial and voice recognition, and multi-sensor integration has strengthened the overall security infrastructure. Additionally, the adoption of cloud-based storage, remote monitoring, and smart lock integration has empowered homeowners with great control and accessibility to their security systems.

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