Dublin, Aug. 18, 2022 (GLOBE NEWSWIRE) -- The "Home Security Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Home Security Systems Market to Reach US$68.2 Billion by the Year 2026
A home security system is designed to safeguard a home against intrusion from burglars or other people with malicious intensions, and can monitor flood, fire or other environmental threats that may damage a home. The demand for home security systems is witnessing a rapid growth. The scenario is therefore creating demand for highly sophisticated security solutions like access control systems, IP-based video surveillance, digital CCTVs and remote-monitoring solutions.
Demand is also driven by the low penetration rate of home security systems in the US, which is estimated at around only 17% of the total US homes. This factor, coupled with the $2500 average value loss per burglary, presents increased opportunities for home security systems. Technological developments also ensure that building security systems became affordable to suffice the budgetary requirements of consumers across the board.
Against this backdrop, demand is growing for a wide range of home security products and solutions ranging from CCTV video cameras, smart locks, keyless entry systems to burglar alarm systems. The present generation of home security solutions offers unparalleled connectivity, control and accessibility, and more importantly enable homeowners to remotely access a wide range of features using a PC or a smartphone. The growing popularity of smart security systems is also largely attributed to their innovative features such as remote arming and disarming, viewing of stored video clips of various events, accessing of household appliances and monitoring of movements even when away from home to name a few.
Amid the COVID-19 crisis, the global market for Home Security Systems estimated at US$54 Billion in the year 2022, is projected to reach a revised size of US$68.2 Billion by 2026, growing at a CAGR of 5.4% over the analysis period.
The U.S. Market is Estimated at $17.6 Billion in 2022, While China is Forecast to Reach $7.4 Billion by 2026
The Home Security Systems market in the U.S. is estimated at US$17.6 Billion in the year 2022. The country currently accounts for a 32.7% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$7.4 Billion in the year 2026 trailing a CAGR of 7.2% through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Smart Locks Emerge as the Leading Growth Category in the Access Control Systems Segment
- Technology Innovations in the Smart Locks Space: A Review
- Rise in Home Fires, Awareness Over Fire Safety & Strict Regulations Step Up the Importance of Installing Fire Safety/Protection Systems
- Strong Demand for Networked Cameras Emerge as a Key Trend in the Home Video Surveillance Space
- Rise of Smart Homes & Home Automation to Offer Growth Opportunities on a Platter
- Smart Homes Emerge as a Disruptive Trend Enhancing Lives of Homeowners & Also Creating New Market Opportunities for Smart Security Technologies & Solutions
- Security and Surveillance in Smart Homes: A Review
- Home Automation and Security Systems Converge to Promote security Along With Comfort, Energy Efficiency & Convenience
- Automation & Home Security: A Special Focus
- Video Doorbells Market: A Promising Market
- Home Renovations & Need for Better Buildings for Post Pandemic Living to Spur Sales of Home Security Systems
- Residential Renovations to Regain Lost Momentum Post Pandemic
- AI to Revolutionize Home Security. Here's How
- Role of Blockchain in Home Security Systems
- Continuous Innovation Remains Crucial to Growth
- Favorable Demographic and Economic Trends Strengthen Market Prospects
- Rapid Urbanization & Rise in Better Provisioned Houses for the Middle Class Drive Demand For Home Security Systems
- Role of IoT in Home Security Systems
- Growing Popularity Wireless Home Security Systems to Boost Market Prospects
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Companies Mentioned
- ABB Ltd.
- ADT LLC dba ADT Security Services
- Allegion plc
- Assa Abloy AB
- Bosch Service Solutions GmbH
- Frontpoint Security Solutions, LLC
- Control4 Corporation
- Teledyne FLIR LLC
- Godrej & Boyce Mfg.Co. Ltd.
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International Inc.
- JOHNSON CONTROLS
- Nortek Security & Control LLC
- Schneider Electric SE
- Scout Security Inc
- SimpliSafe Inc.
- Stanley Convergent Security Solutions, Inc.
- Visonic
For more information about this report visit https://www.researchandmarkets.com/r/qkm5vo
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