Global Home Security Systems & Solutions Market: Demand Analysis and Growth Forecast
On the back of growing possibilities with the Internet of Things (IoT), artificial intelligence (AI), and robotics, as well as the zest of smart homes customers to ensure safety at all costs, the home security systems market and home security solutions market is thriving, according to the recent business publication by IndustryARC. The report has estimated the collective opportunities in the home security systems market and home security solutions market to be around $50 billion as of 2018. Moreover, the analyst projects the demand to increment at a CAGR of 8% to 10% during the forecast period of 2019 to 2025. The report is titled “Home Security Systems & Solutions Market: By Equipment (Video Surveillance, Access Control, Intrusion Detection, Others); By Solutions (VSaaS, ASaaS, Others); By Home Type (Independent, Condominiums, Apartments, Others) & Geography - Forecast 2019-2025.”
The analyst highlights a FBI’s Uniform Crimes Reporting program findings that there is an increase in burglary rate every year in United States. It was found that 57.9% of burglaries are due to forcible entry, 35.5% are unlawful entries with account of 71.6% burglaries of residential. Moreover the victims of burglary crimes grieved $3.6 billion in property loss in 2015 which account for $2,316.average dollar loss per crime. These factors have collectively driven the demand in the home security systems market. The home security systems & solutions market has come a long way from a time when security guard and hard wired alarms systems were the only options.
Browse 64 Market Tables, 177 Figures spread through 156 slides and an in-depth TOC “Home Security Systems & Solutions Market (2019 - 2025)”
Global Home Security Systems & Solutions Market: Leading Segments
The IndustryARC report has rated North America as the leading region with a global demand share of 35% to 40% in 2018. Furthermore, intrusion detection has emerged as the dominant application segment, flourishing with a CAGR of nearly 15% through to end period 2025.
Global Home Security Systems & Solutions Market: Trends
- Pocket size drones are a recent innovation by manufacturers. Pocket sized drones are capable to fly at an altitude of 20 feet and can detect the vital identification information of an assaulter. Drones controlled devices are consisted of built in biometric scanning systems or finger print sensors to prevent from stealing. The easy controllable system using radio controller or through Android phones with USB port is gaining a lot of traction from the consumers in home security solutions market due to its self-preventing charactertics.
- Fingerprints is the most unique identity any individual owns. Door locks with fingerprint sensors is gaining traction from many users in the market. People adopting connected houses prefer smart locks sensors at home.
- Home security systems are now based on intelligent centralized control with cloud networks. Cloud-based services are used to store the data and images captured by surveillance devices. Most residential users are rapidly adopting cloud based security solutions that ensure on-demand scalability and low-cost ownership.
- Piper all-in one wireless security system allows to set system remotely through piper app. Also, it allow users to check the inside view of home along with it sets the alarm when it detects the home is vacant and then start motion detectors. It sends notifications to the owners connected with to inform the law enforcement via email, phone call and text. This device can also provide the panoramic video and sound detection.
- Smart doors locks provide access control features. Users can remotely lock and unlock the door using applications in the smartphones. The door sensors is enabled with Bluetooth, Wi-Fi, and NFC that unlock the door only when authorized user approaches with smartphone. These luxuries are often desired by the target customers which is leading to a rising demand in home security systems & solutions market.
- Knight Scope develops robot that works as a second eye for personal security. Robot is used to patrol the house in silence and can broadcast alert loudspeaker messages in emergency. Also, these robot can detect the suspicious activities and can record it which is a very useful innovation in the home security systems & solutions market.
Global Home Security Systems & Solutions Market: Competitive Landscape
Some of the major players in home security systems & solutions market are Johnson Controls, Honeywell, FLIR, Axis Communications, Anixter, ABB, Schneider Electric, Allegion, Godrej, Bosch, UTC, Assa Abloy, Visonic, Pelco, and Tyco.
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