Home security systems are devices that work on the principle of securing entry points for instance doors & windows and interior space containing a variety of valuables & essentials. A common home security system includes control panel, interior & exterior motion sensors, high decibel sirens or an alarms and wired or wireless security cameras. Control panel communicates with all component of the security system. Doors or windows sensors consist of two parts, which are installed adjacent to each other. One component is installed on the door or a window and the other part is installed on the door frame. When the door is closed, both components of the sensor get connected and completing the circuit. Additionally, motion sensor components protect space by making an indistinguishable zone which cannot be breached without triggering the alarm. Wired and wireless surveillance cameras are utilized in remote areas for instance sheds & workshops, garages, and interior & exterior entry point.
As per study, “Europe Home Security Systems Market by Component, System Type, Product Offering, Home Type, and Country 2014-2025: Growth Opportunity and Business Strategy” key companies operating in the Europe home security systems market include Control4, ABB Ltd., Assa Abloy, ADT, Hangzhou Hikvision Digital Technology, Allegion, Honeywell International Inc., Comcast, Nortek Security & Control, Front Point, Johnson Controls Inc., Godrej & Boyce, Schneider Electric SE, Legrand, Secom, Robert Bosch GmbH, United Technologies, Vivint, Stanley Convergent Security Solutions. Key players are increasing their technological capabilities to adopt various home cloud solutions & app-based home security systems. Most of the players have adopted an inorganic strategy to increase their businesses, where, partnership & collaboration accounted and merger & acquisition (M&A) accounted for overall key development undergone by the leading players in the market.
By component, Europe home security systems market is segregated as software, hardware and services. By system type, market is segregated as self-installed & professionally monitored systems, professionally installed & monitored systems and Do-It-Yourself (DIY) systems. By product offering, market is segregated as access control systems, fire detection systems, intruder alarms, video surveillance systems and other systems. In addition, by home type, market is segregated as Apartments & Condominiums, and independent homes.
The Europe home security systems market is primarily driven by rise in awareness regarding home security systems, followed by Emergence of the Internet of Things (IoT) & wireless technologies and implementation of artificial intelligence (AI). However, large initial investment and cost of maintenance of systems may impact the market. Moreover, growth in availability of remote monitoring with aid of mobile devices and favorable insurance policies are key opportunities for market. Furthermore, rise in advancement in Smartphone-enabled remote monitoring technology is a major trend for market.
By geography, Europe home security systems market is bifurcated as Spain, Italy, Germany, UK, France and rest of Europe. It is projected that future of the market will be optimist due to increase in criminal activities and growth in adoption of traditional & smart home security systems during the forecast period.
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Ankur Gupta, Head Marketing & Communications