ADT, Honeywell, Johnson Controls, Assa Abloy, Secom, Robert Bosch Are Profiled in Home Security System Market to Eyewitness Massive Growth Due to Covid-19

Global Home Security System Market is valued at USD 49.85 Billion in 2019 and expected to reach USD 98.91 Billion by 2026 with the CAGR of 10.28% over the forecast period.

A research report on Home Security System Market features a succinct analysis on the latest market trends. The report also includes detailed abstracts about statistics, revenue forecasts and market valuation, which additionally highlights its status in the competitive landscape and growth trends accepted by major industry players.

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Market Analysis of Home Security System – 

Home security system is a network of devices designed for specific use each, work all together to secure a home. A general system has a control panel, door & window sensors, motion detectors, a high decibel alarm and security camera systems. Each of these components is connected with a control panel which functions as system’s prime control center. Consumers can choose between wired security system or wireless system depending on the preference and budget. When someone breaks in to the home while all the systems are enabled, they will be triggered at any point such as window or door. When it happens, the sensor sends signal to the control center which triggers the alarm. And if the consumer has professional monitor system, the authorities will also be warned.

Global Home Security System Market report is segmented on the basis of type, system type, offering and region & country level. Based on type, global home security system market is classified as independent homes and apartments. Based upon system type, global home security system market is classified into installed & professionally monitored and do-it-yourself. Based upon offering, global home security system market is classified into products and services.

The regions covered in this Home Security System market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Home Security System is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Key Players for Global Home Security System Market Report-

Some major key players for global Home Security System market are ADT, Honeywell, Johnson Controls, Hangzhou Hikvision Digital Technology, Assa Abloy, Secom, Robert Bosch, United Technologies, Godrej & Boyce, Alarm.com, Allegion, Control4, Schneider Electric, Legrand, ABB, and others.

Global Home Security System Market Dynamics

The technological improvements especially in terms of IoT, increasing urbanization resulting growing number of residential apartments, growing awareness regarding security systems and increasing number of property crime cases are the major factors driving the growth of home security system market. For instance, in every 13 seconds a home burglary occurs which are 4 burglaries in a minute and 240 an hour as well as 6,000 a day and it has noticed that 88% of all burglaries are residential in nature, which shows the seriousness of adopting a home security system for better security of property and family. It has noticed that identity theft is the fastest growing crime in US, Canada and UK, due to which the home security system market’s demand is also increasing as well due to growing adoption of using smart home technologies. Some home security system also provides early warning systems for smoke and warn source of heat, therefore warning against potential fire outbreak. Other benefits such as management of electricity, helps in lowering the home owner’s insurance premium, protection against odorless gas, remote monitoring of indoor & outdoor cameras, motivates to adopt home automation with system.

The current developments in smart sensing & actuating devices and communication technology such as IoT provided by ZigBee and ANT made the home security system lot easier with features such as real-time, remote and automated monitoring. People are more attracted towards wireless technology as it allowed them to make their home smart and automated. However, the high cost associated with the installation and maintenance of home security system may hamper the market growth up to some extent. For instance; the home security system ranges from USD 300 to more than USD 800 dollars with monthly cost is from USD 20-60 for personally monitored systems and USD 10-15 for unmonitored systems.

Global Home Security System Market Regional Analysis–

North America is dominating the home security system market with highest market share and is expected to have highest growth rate due to awareness about home security system, high purchasing power, more established market than other regions. In addition, presence of most of the major players in home security system industry such as ADT, Honeywell, Johnson Controls, and Vivint etc. in this region is also supplementing the market growth. It has been observed that, by using home security system, consumers can decrease the risk of burglary by 60%, for which almost 70 million smart home devices are shipped across US in 2016. According to a study, about 60% of convicted burglars confessed that they would avoid a home with a security system, but only 17% of households in the U.S. are protected by one. Another statistics state that a total of about 841,283 residential burglaries were reported in the U.S. in 2017 and whose monetary value would be USD 2,368 per household. Thus, the growing property crime cases are expected to drive the home security system market growth in this region. In case of Asia-pacific, it is expected that home security system market will have high growth rate due to increasing purchasing power of consumers, awareness on security of home through varied devices and growing number of property crime cases in this region.

Key Benefits for Global Home Security System Market Report–

Global market report covers in depth historical and forecast analysis.

Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.

Global market report helps to identify opportunities in market place.

Global market report covers extensive analysis of emerging trends and competitive landscape.

Global Home Security System Market Segmentation:–

by Type

  • Independent Homes
  • Apartments

by System Type

  • Installed & Professionally Monitored
  • Do-It-Yourself

by Offering

  • Products
  • Services

By Regional & Country Analysis

  • North America
  • Mexico
  • Canada
  • Europe
  • UK
  • France
  • Germany
  • Italy
  • Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Latin America
  • Brazil

The Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

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