Residential Security Systems Market Scope
Residential security systems are the systems that refer to the security and safety of any residential buildings, properties, and individuals. They are designed to detect any kind of disturbances, burglary, property damage, unauthorized entries as well as personal protection in the premises. These are the electronic system that helps in taking care of overall security for consumers, particularly when they are away from home. In the coming few years, the global residential security market will take significant growth, by owing the development in technologies as well as the development of smart cities in developing countries such as India and China.
The Residential Security Systems market study is segmented by Type (DIY residential security, Security solutions, Alarms, Sensors and detectors and Electronic and smart locks), by Application (Urban Areas and Rural Areas) and major geographies with country level break-up.
The global residential security market is highly fragmented due to the presence of a large number of global and regional players. With high competition in the market, major players are actively upgrading their products and services to meet the evolving customer needs. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Residential Security Systems market throughout the predicted period.
ADT Security Services (United States), ASSA ABLOY (Sweden),, Bosch Security Systems (United States), Honeywell International (United States), Nortek Security and Control (United States), Godrej & Boyce (India),, Stanley Convergent Security Solutions (United States), Alarm.com (United States), United Technologies (United States) and HANGZHOU HIKVISION DIGITAL TECHNOLOGY (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are FRONTPOINT (United States), Control4 (United States), Schneider Electric (France) and Legrand (France).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Residential Security Systems market by Type, Application and Region.
On the basis of geography, the market of Residential Security Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In December 2019, Hangzhou Hikvision Digital Technology launched its new generation of IP Villa Door Stations (DS-KV8X13/DS-KV61X3 series), providing a simpler video intercom solution for houses and small buildings, and delivering more convenience and security on the doorstep. In the DS-KV8X13 series, both flush and surface mounting options are available, which enable flexible installation.
In December 2019, Hangzhou Hikvision Digital Technology solutions signed a deal with the protective intelligence company, Scylla Technologies Inc., to explore opportunities for AI technology. The partnership between the two companies includes integration of Scylla AI-powered systems with Hikvision cameras and NVRs, and exploration of how the Scylla technology can be used in Hikvision’s central management platform, HikCentral, enabling the advanced Scylla features across larger installations. and For instance, in April 2017, Bosch Security Systems Inc. launched the B6512 intrusion control panel for its B-series family of integrated security solutions in North America.
Two sections of the National Electrical Code (NEC) describe requirements for security and surveillance systems. NEC Article 725 describes class 1, 2, and 3; remote control; signaling; and power-limited circuits, and NEC article 760 describes fire protective signaling systems. The ANSI/TIA/EIA standards organizations have only recently addressed the need for residential security standards. In 2002, work was completed by the Telecommunications Industry Association (TIA) 42.2 working group on ANSI/TIA/EIA-570A Addendum 1, which covers residential alarm and security cabling.
Market Trend
- Increasing Advances in Sensor Technologies
- Adoption of Remote Access for Residential Security Systems
- The Emergence of Wireless Technologies is One of the Key Trends Observed in the Residential Security Market
Market Drivers
- Growing Adoption of Smart Homes
- Increasing Awareness About Security in Consumers
Opportunities
- Worldwide Rise of Smart City Initiatives Especially in China and India
- Addition of AI and Customized Techniques in Residential Security Systems
- Adoption of Cloud-Based Security Solutions is also Boosting the Market
Restraints
- High Installation, Operational, and Maintenance Costs
- Security Risk for Data Protection Act or Data Breaching
Challenges
- Increasing Instances of False Alarms
- Maintaining the Data Protection Act for Consumers
Key Target Audience
Residential security system manufacturers, Residential security system distributors, Software solution providers, Network providers, Private organizations, Housing developers, Retail distributor, End-user and Government organization
Customization available in this Study:
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