The home security systems consist of series of network devices that are designed for working together for securing home. The home security typically a system that comes with a control panel, doors, the window sensors, motion detectors, a high level of decibel alarm, and signs for yard and windows. The rise in technological advancement and availability increased speed internet connected devices, leading to build some secured smart home flourished with the compliments that are demanded for an easy installation features and security system corresponding to increase in crimes and burglaries globally. Moreover, the additional advantage of adopting these security systems consists of pre-defined features that are embedded in products, over which an individual is not expected to pay for any additional professional security systems. These factors are propelling the penetration of home security solutions over the forecast period globally.
According to study, “Global DIY Home Security Systems Market by Component, Product Offering, Sales Channel, and Region 2014-2025: Growth Opportunity and Business Strategy” the key companies operating in the global DIY home security systems market are Abode Systems, Inc., iSmart Alarm, Inc., Front point Security Solutions, SAMSUNG Smart Things, GetSafe, Protect America, Inc., Icontrol Networks, Inc., Nest Labs, LifeShield LLC, SImpliSafe, Inc. The DIY home security system companies and providers have now started to introduce products that are be operated by video cameras, voice speakers, doorbells, and many other peripheral devices.
Based on type of component, DIY home security systems market is bifurcated into software, hardware and services. Based on product offering, market is bifurcated into DIY electronic locks, DIY security cameras, alarming systems video monitoring and other systems. In addition, based on sales channel, market is bifurcated into retail stores and online shops.
The DIY home security systems market is driven by rise in the number of crimes and burglary, followed by demand for custom (luxury) solutions, low cost of DIY home security devices and continuous innovations, expansions, and customization of products. However, high installation & maintenance, and operational costs may impact the market. Moreover, continuous infrastructural development is a key opportunity for market.
Increases in crime rate in the different geographies have led to significantly rise in use of such automated security and surveillance system. The North American have now emerged as one of the leading region for the adoption of home security solutions. The rise in use of home security solutions is further attributed to increase in number of smart homes in the region. Based on the preference people in the region are further looking to adopt solutions that may consume much less energy and also cater cutting needs requirements. Moreover, the crime rates in different geographies have further lead to spreading of fear among people. Further, the preference towards the using of inexpensive smart security products have further impelled consumers for opting out for DIY home security solutions. The global revenue of DIY based home security systems market during is expected to reach US$42.3 billion owing to growth in adoption of different types of Do-It-Yourself security devices in households globally.
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Ankur Gupta, Head Marketing & Communications