Home Security System Market Segmentation, Growth Potential, Comprehensive Analysis, Technological Advancement, Development Status and Strategic Assessment
(firmenpresse) - Market Highlights
Market Research Future (MRFR), in its latest “Home Security Systems Market” report, states several influencers those can cause shew in the growth pattern of the market. As per MRFR findings, the home security systems global market can rise at 9% CAGR by 2023. The escalation in the home security system market value from USD 33.47 Bn in 2017 to USD 55 Bn by 2023 can be attributed to the rise in concern for protection against criminal activities. Advancements in smartphone technologies can enabled remote monitoring of one’s home with home security systems. The incorporation of home security systems can that offer strategic security solutions that includes control panel, interior & exterior motion sensors, high decibel sirens or an alarm, and wired or wireless security cameras, and wired or wireless security cameras among others. Hence, technological advancements and the rise in deployment rate can underpin the home security system market growth.
Among the factors to impact the market, growing social unrest, increase in disposable income, inclusion of better technologies at cost-affordable rates, and others are playing significant roles. At the same time, the ability to monitor round-the-clock and better IoT management are giving this type of service an edge over the manual service provided.
Segmentation:
The home security system market share study is based on type, product, and end-users.
The product-based segments of the home security systems market are sensors, cameras, alarms, fire sprinklers & extinguishers, biometrics, panic buttons, smart cards, RFID, and electronic locks.
The type-based segments of the market are integrated security solution, intruder alarm solution, medical alert system, video surveillance solution, fire protection system, intercom system, and access control & management solution.
The end-user-based segments of the home security system market are apartments, condominiums, and independent homes. Technologically enabled security systems are highly convenient to use, which can prompt the expansion of the market.
Regional Analysis
The global market for home security system has been segmented into North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW) for a region-specific understanding. MRFR tried to gauge the zonal importance of the market from such an endeavor.
The APAC market is in a dominating position and it is expected to continue during the forecast period. The regional market is thriving from the high construction activities in emerging economies like India, China, Thailand, and others. Japan, as a developed country, is also showing significant rise. Technological integration is getting boosted by rise in disposable income and government policies of stringent security measures.
North America’s growth is expected to mark high speed due to the possibility of easy technological integration. This is happening due to an available backing from robust infrastructure and better research & development facilities that would inspire individuals and organizations into adopting these technologies. In addition, the region is profiting from the presence of countries like the US where high expenditure capacity is providing thrust to the regional market. Canada is also impacting the market substantially.
Competitive Analysis
As per MRFR analysis, key players are invested in experimenting with home security systems to develop more effective and convenient solutions. This have resulted in their improved performance threshold subsequently intensifying competition among them. It is likely to favor the global home security market. The market is likely to cash-in in the availability of expertise of different suppliers of home security systems. With the assistance of cloud and blockchain, developers are manipulating the existing home security solutions to rise their efficacy. Most of the designers have adopted strategies that can promise to business expansion. Partnership and acquisitions are some methods to make business.
Key players
MRFR profiled some reputed players of the worldwide home security system market. They are; Vivint Inc., Control4 Corporation, United Technologies Corporation Nortek Security & Control LLC, Tyco International Ltd., Honeywell International Inc., ADT Corporation, Godrej & Boyce Manufacturing Company Limited, Robert Bosch GmbH, Assa Abloy AB, Axis Communications AB, Allegion PLC, HikVision Digital Technology Co., Ltd., and SimpliSafe, Inc. among others.
Unternehmensinformation / Kurzprofil:
Datum: 13.04.2020 - 11:40 Uhr
Sprache: Deutsch
News-ID 610495
Anzahl Zeichen: 4745
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