Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the home security solutions market provides an in-depth analysis of segments and sub-segments in the global as well as regional home security solutions market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional home security solutions market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global home security solutions market. According to the report, the global home security solutions market is projected to grow at a CAGR of 9.82% over the forecast period of 2021-2027.
The global home security solutions market was valued at USD 53.32 million in 2021 and is expected to reach USD 93.59 million in 2027, with a CAGR of 9.82% during the forecast period. A home security system consists of a variety of electronic components that communicate with a central panel, working together to safeguard a home against potential intruders. The entire home security system package includes cameras, control panels, doorbells, floodlights, and sensors. Together, these elements will keep a home as safe as possible. It's designed to detect an intrusion or unauthorized entry when a secured zone is breached. It is operated even during power outages and also warns about environmental dangers, like the discharge of monoxide, fire, flood, etc. Furthermore, the house security systems are microprocessor-based, which perform multinational functions and supply an easy-to-use interface for the user.
The emergence of IoT has led to the development of miniaturized sensors and actuators and low-power wireless communication technologies is the major factor driving the growth of the market. Besides, the growing adoption of the internet, tablets, and smartphones is increased the increased use of IoT in home security, with the use of smart applications. The IoT has enhanced the quality of products and the consistency of automation systems. Mobile devices and the web is mediators for the connection of security systems with the cloud. The utilization of home security systems with the cloud helps in monitoring home security or other infrastructure. The advancements in smart actuating and sensing devices, and communication technologies such as Bluetooth ZigBee, ANT, and Low Energy consumption will drive the growth of the market during the forecast period. The high cost of the maintenance and installation of home security systems is expected to restrain the growth of the market in the forecast period. Consumers are becoming more aware of the benefits of security systems. However, the customers are doubtful of making investments due to the high prices of security systems which are not affordable for several consumers. Expensive hardware and cost of ownership have hampered the adoption of home security systems during the forecast period.
In terms of region, the home security
solutions market is segmented into North America, Europe, Asia Pacific, Africa,
and the Middle East. North America, being the most technologically advanced
region in the world, holds a large market share of the market during the
forecast period. Furthermore, economically and technically developed countries,
such as the Canada and US, hold a large population with high disposable income.
Furthermore, the introduction of IoT and the advancement of smart cities have
propelled the growth of the home security systems market in the region.
Increased utilization of home security products in France will propel the
market growth in the European region. The Asia Pacific region is expected to
dominate the home security systems market during the forecast period. The
growth of the region is attributed to the growing development of the
construction and real estate sectors. The safety rules and regulations set by
the government are other factors that will boost the growth of the industry in
the Asian region within the forecast period.
The report on the global home security solutions market covers segments such as systems, services, and security. On the basis of systems, the sub-markets include entrance control systems, video surveillance systems, intruder alarm systems, access control systems, and fire protection systems. On the basis of services, the sub-markets include access control services, fire protection services, security system integration services, video surveillance services, and remote monitoring services. On the basis of security, the sub-markets include self-installed and professionally monitored, professionally-installed and monitored, and do-it-yourself.
The report provides profiles of the companies in the market such as VIVINT INC., TYCO INTERNATIONAL LTD., ADT CORPORATION, ROBERT BOSCH GMBH, Crossroads Electronics & Security, GODREJ & BOYCE MANUFACTURING COMPANY LIMITED, ASSA ABLOY AB, HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD., JOHNSON CONTROLS, and ALLEGION PLC.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the market
using analytical tools such as Porter's five forces analysis and DRO analysis
of the home security solutions market. Moreover, the study highlights current
market trends and provides forecasts from 2021-2027. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
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