Security is the major concern for industry verticals such as commercial areas, residential areas, and public places. The major reasons behind this are the alarming crime rates on global basis and unethical practices. With regards to this, electronic security equipment is expected to find potential opportunities in this market. The entry level of security solutions in the residential sector has been witnessing a rapid growth since the last few years. There are several factors that can be attributed to this growth, such as increase in home burglary rates, attractive insurance policies to residents for installation of security solutions, and growing number of smart phone and tablet users.
Despite the numerous advantages offered by home security systems, lack of awareness about technological encroachments and a high installment cost of security solutions are some of the important restraints toward the growth of the home security system solutions market. A rise in the awareness level among consumers and increased adoption of new technology for home security would gradually result in cost reduction of the solution, thus driving the market for home security solutions.
The global home security solutions market is expected to grow at a CAGR of 8.7% between 2015 and 2020. The overall market was valued at $28,318.69 Million in 2014 and is expected to grow to $47,542.52 Million by 2020. The report on global market analyzes home security solutions value chain, giving a very clear insight of all the major and supporting segments to the industry. The market has been segmented on the basis of product types, solutions, home types, and geography (the Americas, Europe, APAC, and RoW). The report also evaluates market trends and technologies in the market dynamics, such as drivers, restraints, and opportunities along with the industry's challenges.
The global home security solutions market report profiles some of the key technological developments in the recent times. It also profiles some of the leading players in the market and analyzes their key strategies. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players.
The major players in the global home security solutions market are Tyco (Ireland), ASSA ABLOY (Sweden), UTC Fire & Security (U.S.), Honeywell International, Inc. (U.S.), Bosch Security Systems (Germany), Ingersoll Rand Solutions (Ireland), Allegion Plc (Ireland), Godrej & Boyce Manufacturing Company Limited (India), Control4 Corporation (U.S.), Alarm.com (U.S.), and Nortek Security & Control LLC (U.S.).
The global home security solutions market, by product type, has been segmented into electronic locks, sensors, cameras, panic buttons, fire sprinklers & extinguishers, and alarms.
The global market, by solution, includes medical alert systems, intruder alarm systems, access control & management systems, intercom systems, video surveillance systems, fire protection systems, and integrated systems.
The global market, by home type, includes independent homes, condominiums, and apartments.
The report provides information regarding the global home security solutions market in four major geographic regions, namely the Americas, Europe, APAC, and RoW. Geographic analysis in the report contains the in-depth classification. The Americas includes North America & South America, where North America consists of the U.S., Canada, and others and South America consists of Brazil and Argentina. Europe, on the other hand, includes the U.K., Germany, France, and others; APAC includes China, Japan, India, and others; and RoW includes the Middle East and Africa.
In the report, the global home security solutions market has fully been segmented into the following categories and the industry trends are also covered by the following aspects:
The home security solutions market has been gaining momentum since the past few years. This is mainly attributed to the rise in crime rates and technological advancements in various sectors such as sensors, biometrics, surveillance systems, communication technologies, and more. This market is also observed to provide potential growth opportunities to telecom providers and electrical distributors. However, the high cost of solution and lack of awareness confines the market growth. Home security solution providers also need to work on the adoption of innovative approaches in order to acquire new customers and retain the existing ones.
There is also a growing awareness about integrated security systems, combined with the need for medical assistance to elderly people at home, detection of hazardous conditions such as fire and gas leaks, and monitoring of children at home. The Americas held the largest market share of 60.93% in 2014. This was mainly attributed to the presence of a large number of companies along the home security solution supply chain in this region, such as FrontPoint Security (U.S.), Pinnacle Security (U.S.), Alarm.com (U.S.), iControl Networks (U.S.), and more, that provide innovative solutions to address the various challenges involved in the production of security solutions and their utilization by end-users. Additionally, there are also tremendous growth opportunities observed in South Africa, Brazil, and Mexico.
The report provides the current size of the home security solutions market and also forecasts the same for different regions, namely the Americas, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). It also involves the study of winning imperatives and trends in the global market. In addition, the report profiles over 11 companies from all regions of the globe along with their recent activities such as mergers & acquisitions, collaborations, joint ventures, and new product development. The global market was valued at a market size of $28,318.69 Million in 2014. It is expected to grow to $47.542.52 Million by 2020, at a CAGR of 8.7% between 2015 and 2020.
The report describes the market trends and challenges of the global home security solutions market and forecasts the market till 2020, based on products, solutions, home types, and geography. It also features detailed competitive landscape with the identification of the key players with respect to the global market, in-depth market share analysis, and market share rankings. The segments and sub-segments in the report contain the drivers, restraints, opportunities, and current market trends to revolutionize the global market.
The major players in the global home security solutions market are Tyco (Ireland), ASSA ABLOY (Sweden), UTC Fire & Security (U.S.), Honeywell International, Inc. (U.S.), Bosch Security Systems (Germany), Ingersoll Rand Solutions (Ireland), Allegion PLC (Ireland), Godrej & Boyce Manufacturing Company Limited (India), Control4 Corporation (U.S.), Alarm.com (U.S.), and Nortek Security & Control LLC (U.S.).
The global home security solutions market is expected to grow at a CAGR of 8.7% between 2015 and 2020. Intruder alarm systems are the major solution in this market, followed by intercom systems. In geographic analysis, the Americas is the market leader, followed by APAC
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