Portland, March 16, 2020 (GLOBE NEWSWIRE) -- According to the report, the global window sensors market accounted for $7.43 billion in 2017 and is projected to reach $15.39 billion by 2025, registering a CAGR of 9.3% from 2018 to 2025.
Rise in implementation of internet of things (IoT) and wireless technologies in home security systems coupled with increase in security threats and breaches have boosted the global window sensors market. However, high cost of installation hampers the market growth. On the contrary, adoption of artificial intelligence (AI) and deep learning in home security systems and increase in number of smart city initiative are expected to create lucrative opportunities in the near future.
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The global window sensors market is segmented on the basis of type, application, and region. Based on type, the market is divided into indoor and outdoor. The indoor segment held the largest share in 2017, contributing more than two-thirds of the total market and is projected to maintain its dominance throughout the forecast period. This is due to upsurge in rate of burglaries and incidents of security breaches. However, the outdoor segment is estimated to manifest the fastest CAGR of 10.8% from 2018 to 2025, due to increase in implementation of home security systems.
On the basis of application, the market is divided into commercial and household. The household application segment held nearly three-fifths of the market in 2017, owing to rise in installation of home security systems that could reduce the rate of burglary. However, the commercial segment is projected to portray the fastest CAGR of 9.9% through 2025, owing to initiatives for smart cities taken by government from various countries.
The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the major market share, contributing more than two-fifths of the total market share in 2017, owing to increase in implementation of smart technologies such as AI and IoT leading to adoption of window sensors. However, the market across LAMEA is expected to register the fastest CAGR of 12.0% through 2025, owing to rise in awareness regarding home security among consumers.
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The global window sensors market report provides an analysis of the major market players such as Pepperl+Fuchs GmbH, Honeywell International, Inc., SecurityMan Inc., Optex Group Co., Ltd., Eve Systems, Panasonic Corporation, SABRE - Security Equipment Corp., iSmart Alarm, Inc., Samsung Electronics Co., Ltd., and United Technologies Corporation.
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