$74.7 Bn Home Security System Market – Global Forecast to 2023

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Dublin, Sept. 04, 2018 (GLOBE NEWSWIRE) -- The "Home Security System Market by Home Type, System Type, Offering, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The home security system market is expected to reach USD 74.75 billion by 2023 from USD 45.58 billion in 2018, at a CAGR of 10.40% during the forecast period.

The emergence of IoT and wireless technologies, and increasing customer awareness are some of the major factors driving the growth of the home security system market. However, high installation, operational, and maintenance costs inhibit the growth of the home security system market.

Home security system market for condominiums and apartments to grow at higher CAGR during forecast period

Owing to the increasing urbanization, the cities have started growing vertically, leading to the growth in the number of residential apartments and complexes. People in cities prefer condominiums and apartments owing to the integrated security and amenities within optimized prices. Therefore, providing a high level of security, while managing a large number of households, becomes necessary for the society builders and management bodies. Therefore, with the increasing number of condominiums and apartment projects in cities worldwide, the home security market for condominiums and apartments is expected to grow at a higher CAGR during the forecast period.

Professionally installed and monitored security systems to account for largest share of market by 2018

The large market for professionally installed and monitored security systems is mainly attributed to the growing concern among consumers about consistent security and real-time monitoring, and rising disposable income. Customers can completely rely on professionally installed and monitored security systems, which are backed up with engineering and maintenance support. Consumers prefer opting for this category of products as the direct involvement of experts in handling and managing such products saves time and reduces efforts. Under a complete security package, professional monitoring companies offer possible discounts and insurance benefits. Moreover, these companies can communicate with offsite monitoring centers to ask for police, firefighters, and ambulance assistance in the emergencies.

Home security system market for products to grow at higher CAGR during forecast period

The projected growth of the home security system market for products is mainly attributed to the increasing penetration these systems in emerging economies and the rising adoption of do-it-yourself (DIY) products. Additionally, the proliferation of smart city projects, the emergence of IoT, and the integration of wireless technology are a few factors that are expected to fuel the implementation of home security products across different households.

Research Coverage

The report segments the home security system market on the basis of home typeindependent homes and condominiums/apartments; system typeprofessionally installed and monitored, self-installed and professionally monitored, and do-It-yourself (DIY); offeringproducts (fire protection systems, video surveillance systems, access control systems, entrance control systems, intruder alarms) and services (security system integration services, remote monitoring services, fire protection services, video surveillance services, and access control services).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Home Security System Market Opportunities
4.2 Home Security Product Market, By Type
4.3 Home Security Product Market in APAC, By Type & Country
4.4 Country-Wise Snapshot of Home Security System Market
4.5 Home Security System Market in APAC, By Country

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Emergence of IoT and Wireless Technologies Increasing Customer Awareness
5.2.2 Restraints High Installation, Operational, and Maintenance Costs
5.2.3 Opportunities Integration of AI and Deep Learning in Home Security Systems Worldwide Proliferation of Smart City Initiatives
5.2.4 Challenges Increasing System Complexity Maintaining Secrecy of Highly Confidential Information
5.3 Value Chain Analysis

6 Home Security System Market, By Home Type

6.1 Introduction
6.2 Independent Homes
6.3 Condominiums/Apartments

7 Home Security System Market, By System Type

7.1 Introduction
7.2 Professionally Installed & Monitored Systems
7.3 Self-Installed & Professionally Monitored
7.4 Do-It-Yourself (DIY) Systems

8 Home Security System Market, By Offering

8.1 Introduction
8.2 Products
8.2.1 Fire Protection Systems Hardware Fire Sprinklers Fire Extinguishers Secure Communication Products Sensors & Detectors Radio Frequency Identification (RFID) Fire Alarm Devices Emergency Lighting Voice Evacuation & Public Alerts Others Software Fire Mapping & Analysis Software Fire Modeling & Simulation Software
8.2.2 Video Surveillance Systems Hardware Camera Monitor Server Storage Others Software Video Analytics Software Video Management System (VMS) Neural Networks and Algorithms
8.2.3 Access Control Systems Hardware Controllers/Servers Cards & Readers Biometric Readers Electronics Locks Multi-Technology Readers Software
8.2.4 Entrance Control Systems
8.2.5 Intruder Alarms
8.3 Services
8.3.1 Security System Integration Services
8.3.2 Remote Monitoring Services
8.3.3 Fire Protection Services Engineering Services Installation & Design Maintenance Services Managed Services Others
8.3.4 Video Surveillance Services Installation & Maintenance Video Surveillance as A Service
8.3.5 Access Control Services Installation & Integration Maintenance Services Access Control-As-A-Service

9 Geographic Analysis

10 Competitive Landscape

10.1 Overview
10.2 Ranking Analysis
10.3 Competitive Scenario
10.3.1 Product Launches & Developments
10.3.2 Partnerships, Agreements, & Collaborations
10.3.3 Acquisitions
10.3.4 Expansions

11 Company Profiles

  • 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
  • Comcast
  • Stanley Convergent Security Solutions
  • Nortek Security & Control
  • Front Point
  • Vivint
  • Simplisafe
  • Armorax
  • Nest Secure
  • Notion
  • Canary
  • Scout
  • Cacoon

For more information about this report visit https://www.researchandmarkets.com/research/3z2p7l/74_7_bn_home?w=12

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