Home Security System Global Market To Grow To $4Bn By 2026
13 Jan, 2022
The global home security system market size is expected to grow from $3.92 billion in 2021 to $3.96 billion in 2022 at a compound annual growth rate (CAGR) of 1.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.08 billion in 2026 at a CAGR of 0.7%.
What is the Global Home Security System Market?
The home security system market consists of sales of home security systems by entities (organizations, sole traders, and partnerships) that provide security from burglars and home intruders. A home security system is a collection of devices that work together to keep the house safe and secure. It contains a control panel, door sensors, window sensors, motion sensors, surveillance cameras which act as wire and wireless configurations for utmost security.
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What drives the Global Home Security System Market?
The increasing usage of internet of things (IoT) devices is expected to propel the growth of the home security system market over the forecast years. The internet of things (IoT) refers to a system of internet-connected objects that can collect and transfer data through a wireless network without human intervention. In terms of home safety, IoT security solutions are used to gain a better understanding of who enters and exits a facility in real-time, monitor facility conditions reliably and securely from any location with Wi-Fi connection, important security notifications are transmitted directly to their mobile device, allowing them to act swiftly. For instance, according to Norton, a US-based antivirus and anti-malware software development company estimate that in 2021 there are around 11.6 billion IoT devices used, and it will grow to 21 billion IoT devices by 2025. Therefore, the emergence of the internet of things and wireless technologies drives the growth of the home security system market.
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https://www.thebusinessresearchcompany.com/report/home-security-system-global-market-reportGlobal Home Security System Market Segments
The global home security market is segmented:
By System: Fire Protection System, Video Surveillance System, Access Control System, Entrance Control System, Intruder Alarm System
By Component: Hardware, Software, Services
By Security Type: Professionally-Installed And Monitored, Self-Installed And Professionally Monitored, Do-It-Yourself (DIY)
By End User: Condominiums, Apartments, Independent Homes
By Geography: The regions covered in the home security system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global home security system market.
Home Security System Global Market Report 2022provides market size and growth forecasts for the global home security system market, global home security system market share, home security system market segments and geographies, home security system market competitive landscape including leading competitors’ revenues, profiles and market shares. The home security system market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Home Security System Industry Playersinclude ADT LLC., Honeywell International Inc., Johnson Controls International plc., Hangzhou Hikvision Digital Technology Co. Ltd, Assa Abloy AB, Secom, Robert Bosch GmbH, United Technologies Corporation, Godrej & Boyce Mfg. Co. Ltd, Allegion plc, Control4, Schneider Electric, Nortek Security & Control LLC, Vivint Inc., Armorax, Google Nest, Loop Labs Inc, Canary Connect Inc, Scout Security, Simplisafe, and Securitas AB. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.