Home security systems have now appeared as a crucial part of the modern-day housing systems. The home-security systems further include a wide range of products, services and offerings which helps over a protection of residential spaces there by forming intrusive elements. The home security systems consists of working principle as securing the entry points such as doors & windows and other interior spacing and various valuables and essentials commodities. A typical home security system may further include the control panel, wired or wireless security cameras, interior & exterior motion sensors and high volume level sirens or the alarms. Considering to the fact that incidence of the crimes and mishaps in the residential complexes have been increased substantially, the demand for home security system is expected to get escalated to the new heights over the forecast period.
According to study, “Global Home Security Systems Market by Component, System Type, Product Offering, Home Type, and Region 2014-2025: Growth Opportunity and Business Strategy” the key companies operating in the global home security systems market are ABB Ltd, ADT, Allegion, AssaAbloy, Comcast, Control4, Front Point, Godrej & Boyce, Hangzhou Hikvision Digital Technology, Honeywell International Inc., Johnson Controls Inc., Legran, Nortek Security & Control, Robert Bosch GmbH, Schneider Electric SE, Secom, Stanley Convergent Security Solutions, United Technologies, Vivint and many others.
Based on component, home security systems market is segmented into software, hardware and service. Based on product, market is segmented into cameras, fire sprinklers & extinguishers, sensors, alarms, panic buttons, RFID, smart cards, biometrics, and electronic locks. Based on system type, market is segmented into self-installed & professionally monitored systems professionally installed & monitored systems and Do-It-Yourself (DIY) Systems. Based on type, market is segmented into intruder alarm solution, video surveillance solution, fire protection system, medical alert system, integrated security solution, intercom system, and access control & management solution. In addition, based on end-user, market is segmented into apartments, condominiums, and independent homes. These advanced technologies are expected to provide the substantial support to the home security market.
The home security systems market is driven by increase in criminal activities, followed by growth in advancement in smartphone-enabled remote monitoring technology and rise in awareness regarding home security systems. However, high initial installation cost of the systems may impact the market. Moreover, worldwide proliferation of “smart cities” initiative and implementation of artificial intelligence (AI) and deep learning in home security systems are key opportunities for market over the forecast.
Based on geography, home security systems market is segmented as North America, Asia-Pacific, Europe, and the rest of the world. The Asian-Pacific region dominates the global market owing to rapid development in the construction and real estate sector in the region. Whereas, the North-American and European regions are estimated to exhibit substantial growth rate due to presence of big players and rise in over the forecast period. In upcoming years, it is predicted that future of the market will be bright as a result of rise in need to ensure optimal security across residential spaces over the forecast period.
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Ankur Gupta, Head Marketing & Communications