Press Release / Technology / Home Security Systems Market Trends, Share, Development Policies and Future Growth 2023

Home Security Systems Market Trends, Share, Development Policies and Future Growth 2023

Market Highlights:

Globally, the home security systems market is expected to grow from USD 33.47 billion in 2017 to USD 55 billion by 2023, at a CAGR of 9% during the forecast period 2018–2023. Increasing criminal activities and advancement in smartphone-enabled remote monitoring technology is expected to drive the home security systems market. However, the high initial installation cost of the systems is likely to limit the market growth.

Home security systems work on the principle of securing entry points such as doors & windows and interior space containing various valuables and essentials. A typical home security system includes interior & exterior motion sensors, control panel, wired or wireless security cameras, and high decibel sirens or an alarms. The control panel communicates with each component of the security system. Doors & windows sensors consist of two parts that are installed adjacent to each other. One component is installed on the window or a door and the other part is placed on the door frame. When a door is closed, both components of the sensor gets connected, completing the circuit. Motion sensor components protect the space by making an invisible zone which cannot be breached without triggering an alarm. Wired & wireless surveillance cameras are used in remote areas such as garages, sheds & workshops, and interior & exterior entry points.

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Key players

United Technologies Corporation Nortek Security & Control LLC,
Vivint Inc.,
Control4 Corporation,
Honeywell International Inc.
Tyco International Ltd.,
ADT Corporation,
Robert Bosch GmbH,
Godrej & Boyce Manufacturing Company Limited,
Assa Abloy AB,
Allegion PLC,
Axis Communications AB,
SimpliSafe, Inc.,
HikVision Digital Technology Co., Ltd.
Globally, the Home Security Systems Market is expected to grow from USD 33.47 billion in 2017 to USD 55 billion by 2023, at a CAGR of 9% during the forecast period 2018–2023. Increasing criminal activities and advancement in smartphone-enabled remote monitoring technology is expected to drive the home security systems market. However, the high initial installation cost of the systems is likely to limit the market growth.

Competitive Analysis

According to the latest trend in home security system market, most enterprises are expanding their technological capabilities to adopt home cloud solutions and app-based home security systems. Most of the companies have adopted an inorganic strategy to expand their businesses, where, partnership and collaboration accounted and merger & acquisition accounted for overall key development undergone by the key players in the market.

Segmentation

The global home security system market is segmented into product, type, end-users, and regions.

By product, the market is segmented into cameras, sensors, fire sprinklers & extinguishers, alarms, panic buttons, biometrics, RFID, smart cards, and electronic locks.

By type, the market is segmented into intruder alarm solution, integrated security solution, video surveillance solution, medical alert system, intercom system, fire protection system, and access control & management solution.

By end-user the market is segmented into condominiums, apartments, and independent homes

By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the world.

Regional Analysis

The global market for home security system is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of global home security system market is studied for North America, Europe, Asia-Pacific, and the rest of the world.

Asia-Pacific is expected to dominate the global home security system market during the forecast period. In Asia-Pacific, many governments set the safety norms for various categories. Rapid development in the construction and real estate sector can be attributed to the growth of home security systems market in the Asia-Pacific region. Asia-Pacific is economically and technologically developed region and countries such as China, Japan, and South Korea are expected to dominate the home security market in the region.

North America is expected to grow at a faster rate during the forecast period. The presence of big players and early adoption of new technologies such as IoT and artificial intelligence (AI) drives the home security systems market in North America. US, Canada, and Mexico are expected to dominate the home security system market in the region during the forecast period.

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Intended Audience

Companies competing in the home security system
Companies involved in the ecosystem of security solutions
Key security system manufacturers
Software solution providers
Network providers
System integrators
Housing developers
Retail distributor
Government, financial, and research institutions as well as investment communities
Analysts and strategic business planners
Research and consulting firms
LIST OF TABLES

Table 1 Global Home Security System Market, By Country, 2018-2023

Table 2 North America: Home Security System Market, By Country, 2018–2023

Table 3 Europe: Home Security System Market, By Country, 2018–2023

Table 4 Asia-Pacific: Home Security System Market, By Country, 2018–2023

Table 5 Latin America: Home Security System Market, By Country, 2018–2023

Table 6 North America: Home Security System Market, By Country

Table 7 North America: Home Security System Market, By Product

Continued……

LIST OF FIGURES

Figure 1 Global Home Security System Market segmentation

Figure 2 Forecast Methodology

Figure 3 Porter’s Five Forces Analysis of Global Home Security System Market

Figure 4 Value Chain of Global Home Security System Market

Figure 5 Share of Home Security System Market in 2018, by country (in %)

Continued……

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