About Home Security Solutions
The Increasing concern related to home security will help to boost the global Home Security Solutions market in the forecasted period. Home security solution includes various solution which prevents the incidence of crime. There are various types of product including electronic locks, sensors, cameras, panic buttons, fire sprinklers & extinguishers and alarms. The emergence of IoT and wireless technologies, as well as the availability of remote monitoring with the aid of mobile devices along with beneficial insurance policies, will help to boost the global home security solutions market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 12.15% |
The market of Home Security Sensors is expected to grow with rising demand. Several companies are operating in the market to provide different positioning sensors with unique features. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Home Security Solutions market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ADT (United States), Honeywell (United States), Johnson Controls (United States), ABB (Switzerland), United Technologies (United States), Godrej & Boyce (India), Schneider Electric (France), Alarm.com (United States), HANGZHOU HIKVISION DIGITAL TECHNOLOGY (China), ASSA ABLOY (Sweden), SECOM (Japan) and Robert Bosch (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Allegion (Republic of Ireland), Control4 (United States), Nortek Security & Control (United States), FRONTPOINT (United States), Vivint (United States), Armorax (United States), Nest Secure (United States), Legrand (France), Comcast (United States) and STANLEY Convergent Security Solutions (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Security Solutions market by Type (Electronic Locks (Keypad, Biometric, Magnetic Strip, Electric Strips, Electromechanical Door, Wireless), Sensors, Cameras, Panic Buttons, Fire Sprinklers & Extinguishers and Alarms), Application (Individual Users and Building Contractors) and Region.
On the basis of geography, the market of Home Security Solutions 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). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Solutions, the sub-segment i.e. Medical Alert System will boost the Home Security Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Home Type, the sub-segment i.e. Independent Homes will boost the Home Security Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Emergence of IoT and Wireless Technologies, High Demand for Video Surveillance and Availability of Remote Monitoring With the Aid of Mobile Devices Along With Beneficial Insurance Policies
Market Growth Drivers:
Growing Incidence of Crime Rates, Increasing Rate of Burglary and Increase in Construction Activity in Emerging Countries
Challenges:
Low Adoption Rate of Security Solution Systems and Maintaining Secrecy of Highly Confidential Information
Restraints:
Large Initial Investment Associated with Home Security Solutions and High Cost of Maintenance
Opportunities:
Integration of AI and Deep Learning in Home Security Solutions and Strategies Adopted By Telecom Providers & Electrical Distributors
Market Leaders and their expansionary development strategies
In January 2023, Alarm.com partnered with various smart home device manufacturers like Schlage, Yale, and Honeywell during this period. These partnerships aimed to create a more integrated smart home security ecosystem where various devices could work together seamlessly
In April 2022, Ring introduced its Ring Always Home Cam. This innovative indoor camera rolls around on a base, offering a more comprehensive view of your home compared to static cameras
Key Target Audience
Home Security Solution Provider, Key Security System Manufacturers, Software Solution Providers, Network Providers, System Integrators, Housing Developers, Retail Distributor, Government Regularities Bodies, Government Research Organization, Private Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.