London, United Kingdom May 6, 2021 (Issuewire.com) - The global demand for the global Home Security System Industry in terms of revenue was estimated to be USD 46.18 Billion in 2018 and is expected to reach USD 97.09 Billion by 2025, growing at a CAGR of 11.20% from 2019 to 2025. The global Home Security System market is expected to grow at a significant growth rate due to various driving factors.
The home security system is security hardware solutions that are protecting securing entry points such as doors, windows, and interior space containing various valuable resources. In this system, different types of security devices are included like interior & exterior motion sensors, control panels, wired or wireless security cameras, and high decibel sirens or alarms. The door and window sensor in the security system detects and reports the opening and closing of doors and windows. In the home security system alarm are also used to receive alerts. For example, Godrej company sensors not only detect just fire and robbers but also protect from glass breakage.
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Home security system Industry-leading market players:
Prominent market players analyzed in the 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, Frontpoint, Vivint and Other.
The global home security system market report is segmented on the basis of home type, system type, offering, and regional & country level. Based on home type, the global home security system market is classified as independent homes, condominiums/apartments. Based on system type, the market is classified as professionally installed and monitored, self-installed and professionally monitored, and do-it-yourself (DIY). Based on offering, the global home security system market is further classified as products (fire protection systems, video surveillance systems, access control systems, entrance control systems, and intruder alarms). Services are further sub-classified as (security system integration services, remote monitoring services, fire protection services, video surveillance services, and access control services).
Due to the increasing rate of theft, there is an increased security concern among the customers worldwide which is one of the key factors anticipated to grow the home security system market. Additionally, the increasing use of the internet in day-to-day life and the significant adoption of smartphones are also supplementing the growth of the global home security system market. Moreover, rapid urbanization is increasingly making the use of Wi-Fi technology which is mostly used in homes and commercial establishments also rapidly growing. For building security purposes the demand for security systems is also increased. However, a lack of awareness about advanced security solutions may obstruct the growth of this market. Moreover, the strategies adopted by telecom providers & electrical distributors will create new opportunities for this market.
North America is expected to dominate the global home security system market within the forecast period owing to the evolvement of advanced sensor technologies for smart homes and high disposable income helps. In the past few years, increasing cases of theft, burglary, which have made the people, as well as the government, invest in this sector. Europe is an exponentially growing region due to the higher spending capabilities of organizations to invest in premium IoT security solutions and services are contributing to the growth of the market. Due to increasing urbanization, residential, commercial, and industrial sector increasingly needs security system in Asia Pacific region. With the increasing urbanization, the use of smartphones and internet users is also increased in this region. Increasing telecom industries is also one of the important factors to foster home security system market growth in the Asia Pacific region.
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Home Security System Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025- Increasing disposable income especially in emerging countries is the major growth factor of the Global Home Security System Market.
Increasing Security Concerns Customers Worldwide is Driving the Global Home Security System Market
The regions covered in this Home Security System Market report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market of the 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.
Home Security System statistics:
- Home Security System Growing by 11.20% CAGR during Forecast 2019 to 2025.
- Home Security System industry Projected to Cross USD 97.09 Billion in 2025.
- The global Home Security System market is expected to grow at a significant growth rate due to various driving factors.
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