Pune, India, Dec. 01, 2021 (GLOBE NEWSWIRE) -- The penetration of IoT and cloud computing technologies is expected to promote the growth of the market, states Fortune Business Insights, in a report, titled “Home Security Solutions Market Size, Share & Industry Analysis, By Component (Hardware, Software, Services), By Home Type (Independent Homes, Apartment, Condominiums) and Regional Forecast, 2020-2027.” The growing advancements in home security solutions are expected to promote the growth of the market.
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The Home Security Solutions Market accentuates:
- An in-depth analysis of the market
- Valuable facts and figures
- Profound data about leading regions
- Latest market development
- Key policies implemented by companies
Market Driver:
Rising Security Concerns to Spur Market Demand
The emergence of the Internet of Things (IoT) is expected to have an excellent impact on the market during the forecast period. The introduction of advanced IoT integrated security systems is predicted to encourage the healthy growth of the market during the forecast period. IoT provides secured, interconnected, and remote operations for home security, which, in turn, is expected to boost the market. The growing demand for a higher efficiency security system is expected to enable speedy expansion of the market. The adoption of home cloud solutions/systems owing to increasing data thefts are expected to spur opportunities for the market in the forthcoming years. The home security system includes a controller to control the entire home security system, door and window sensors, motion sensors, security cameras. Besides, the introduction of innovative security systems is predicted to improve the market prospects in the foreseeable future. For instance, in March 2020, Vivint, Inc. introduction Vivint Doorbell Camera Pro. This new version of the camera is the first to provide 180 degrees vertical and horizontal view with a 1:1 aspect ratio. This camera incorporates optics, deterrent features, and intelligence to satisfy customer needs.
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Regional Analysis:
Increasing Development of Advanced Security Systems to Favor Growth in North America
The market in North America is expected to dominate the global market. The growth in the region is attributed to the increasing demand for home security solutions. The high adoption of smart home systems in the US is expected to have a tremendous impact on the market. The constant efforts of companies to develop advanced security systems including include smart thermostats, network cameras, security systems, and multi-room technology is expected to spur opportunities for the market. The presence of major players is expected to further aid the expansion of the market in the region. The market in Asia Pacific is expected to witness a substantial growth rate during the forecast period owing to the emerging nations such as India and China. The growing awareness about security solutions is predicted to boost market growth in the forthcoming years.
Some of the Key Questions Answered in this Report:
- What focused approach and constraints are holding the Home Security System Market demand?
- SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
- What trends, challenges and barriers will impact the development and sizing of the Global Home Security System Market?
- Detailed Overview of Market will help deliver clients and businesses making strategies.
- Influencing factors that are thriving demand and latest trends running in the Home Security Solutions Market.
- Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
- What is the Market growth momentum or Home Security System Market carries during the forecast period?
- Which region may tap the highest Home Security System share in the coming era?
- Which application/end-user category or Product Type may seek incremental growth prospects?
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The Report Lists the Main Companies in the Home Security Solutions Market:
- ADT
- SimpliSafe, Inc.
- Protect America, Inc.
- Honeywell International, Inc.
- Axis Communications AB
- ASSA ABLOY
- Vivint, Inc.
- Godrej.com
- ABB
Notable Development:
October 2019: ABB announced its collaboration with the Operational Technology Cyber Security Alliance to provide safe and secure operational technology. This technology is also used in smart home security systems to provide safer and secure homes.
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