Home Security Systems & Solutions Market Overview
The increasing preferences for smart home security among the consumers is driving the Home security systems & solutions market. The technological progression in recent years has significantly improved the quality of security in the domestic sector. Moreover, the conventional surveillance devices have been replaced by smart home security equipment such as motion detectors, alarm systems, real-time video surveillance, and smart intruder detector. According to the FBI Uniform Crime Reporting Statistics, approximately 8 million property crimes were committed in the United States alone in 2015, out of which 19.8% were the cases of breaking and entering, also known as burglary. This substantial percentage can be considerably curtailed by leveraging the benefits of access control, video surveillance, intruder detection offered by home security solution systems market companies.
The information is based on a recent business intelligence report from Industry ARC, titled “Home security systems & solutions market: by equipment (video surveillance, access control, intrusion detection, others); by solutions (V SaaS, A SaaS, others); by home type (independent, condominiums, apartments, others) & geography - forecast 2018-2023.” As per this report, the growing possibilities with the Internet of Things and ubiquity of smartphones is creating new disruptions as well as incrementing revenue avenues for everyone connected to the value chain.
Browse 64 Market Tables, 177 Figures spread through 156 slides and an in-depth TOC on “Home security systems & solutions market (2018 - 2023)”
Home Security Solution Domestic Security Market Trends
A number of devices are now available that allow residential customers to lock or unlock multiple access points in a domestic space from anywhere using Android and iOS applications. The introduction of these software enabled hardware devices, which operates according to the users’ mobile input, has spread robustly in recent years mainly due to the ease of access it has provided to its customers.
Residential settlements are now engaging applications which record the entry and exit of every visitor. This method of storing data of every visitor helps in monitoring the movements across the residential campus. Furthermore, in case of a burglary or theft, the camera systems can be checked corresponding to the movements of the intruder stored in the application. This security systems have already been installed in most of the developed countries and has started spreading in developed nations as well, consequently expanding the home security solution systems market size.
Innovations Disrupting Home Security Solution Systems Market
Special motion detectors are now in use which are programmed in specific order. In the absence of the owner, these motion sensors get activated and if they sense any movement in the apartment, they trigger the alarm and notify the owner about the breach in real time. This system has significantly improved the security in the domestic settlements in regions such as the United States, Europe and Asia-Pacific.
At the stroke of emerging Artificial Intelligence and Internet of Things, the concept of connected homes is booming. Indulging the AI and IoT for the domestic security solutions will commence a remarkable development in the home security solutions. Market leaders in the industry such as Honeywell International Inc., United Technologies Corporation and Allegion PLC are innovating rapidly to cater to the global home security system demands.
The global home security solutions market is flourishing owing to the improved choices of citizens towards domestic security. The rigorous demands for security in the domestic sector has hassled the technical innovations in the global home security market. The emergence of secured domestic environment will harness a great amount of profit in the global home security solutions market in near future.
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