About Interactive Residential Security
Interactive residential security is controlling the security system remotely to arm or disarm the burglar alarm, control the locks or lights, and monitor video images using a smartphone, tablet, or computer. The growth of the interactive residential security market is driven by factors such as growing awareness regarding home security systems, the emergence of the Internet of Things (IoT) and wireless technologies, and the increasing adoption of IP cameras for video surveillance. The pandemic COVID-19 has severely impacted the growth of the global interactive residential security market. Global sales are expected to decline by 5–10% in this fiscal year, depending upon the progression of the virus spread. The impact of COVID-19 on major markets such as the US and China has been significantly adverse, as supply chain disruption in China has resulted in a decline in the demand for interactive residential security.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 7.89% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are ADT, Honeywell, and Johnson Controls. Analyst at AMA Research estimates that European and United States Players will contribute the maximum growth to Global Interactive Residential Security market throughout the forecasted period. Established and emerging Players 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), HANGZHOU HIKVISION DIGITAL TECHNOLOGY (China), ASSA ABLOY (Sweden), SECOM (Japan), Robert Bosch GmbH (Germany), United Technologies Corporation (United States), Godrej and Boyce Mfg. Co. Ltd. (United States), Alarm.com Incorporated (United States), Allegion Plc. (Ireland), Control4 Corporation (United States) and Schneider Electric SE. (France) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Legrand Pvt Ltd. (France), Asea Brown Boveri Ltd. (Switzerland), Comcast Corporation (United States), STANLEY Convergent Security Solutions, Inc. (United States), Nortek Security & Control LLC (United States) and Vivint, Inc. (Vivint) (United Staes).
Segmentation Overview
AMA Research has segmented the market of Global Interactive Residential Security market by Type (Property Monitoring, Phone and Wireless Security, Power Management and Visit Management), Application (Apartment, House and Others) and Region.
On the basis of geography, the market of Interactive Residential Security 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 Services, the sub-segment i.e. Fire Protection Services will boost the Interactive Residential Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Security, the sub-segment i.e. Professionally-Installed and Monitored will boost the Interactive Residential Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Systems, the sub-segment i.e. Fire Protection Systems will boost the Interactive Residential Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of the Internet of Things (IoT) and Wireless Technologies
Market Growth Drivers:
Rising Awareness Regarding Home Security Systems and Growing Adoption of IP Cameras for Video Surveillance Amid
Challenges:
Privacy of Highly Confidential Information
Restraints:
High Installation, Maintenance, and Operational Costs
Opportunities:
Implementation of Artificial Intelligence (AI) and Deep Learning in Interactive Residential Security
Market Leaders and their expansionary development strategies
On 15th November 2019, ASSA ABLOY signed an agreement to acquire AM Group, an Australian industrial door company offering entrance automation. The acquisition will be a complementary addition to its business, specializing in innovative entrance automation.
In December 2019, Hangzhou Hikvision Digital Technology launched its new generation of IP Villa Door Stations 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.
Key Target Audience
Interactive Residential Security Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users 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.