Selbyville, Delaware, March 05, 2024 (GLOBE NEWSWIRE) --
The home security systems market valuation is predicted to cross USD 100 billion by 2032, as reported in a research study by Global Market Insights Inc.
The industry growth is attributed to the increasing awareness and concern for home safety among consumers. The rise in burglary rate and the need for constant monitoring have led homeowners to invest in comprehensive home security systems that offer real-time surveillance, alarms, and remote access.
The integration of smart home features, AI, and IoT (Internet of Things) capabilities into security systems has revolutionized the way people secure their homes. In November 2023, Pepper, a Kansas City-based IoT platform company, pushed further into the DIY smart home security market with a new security feature aimed at business and residential customers. Homeowners now have access to sophisticated and user-friendly security solutions, allowing them to control and monitor their home security remotely. The convenience and added functionalities provided by these technological innovations are shaping the industry outlook.
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Video surveillance system segment is slated to record high demand till 2032, as homeowners are increasingly drawn to the comprehensive monitoring and real-time visual insights. These systems provide an unparalleled sense of security, allowing residents to remotely monitor their homes and receive instant alerts in case of suspicious activities. The integration of high-definition cameras, night vision capabilities, and smart features such as motion detection enhances the effectiveness of video surveillance in safeguarding homes. Additionally, advancements in cloud technology facilitate convenient storage and retrieval of footage.
The home security systems market from the independent homes segment is poised to generate substantial revenues during 2023-2032, driven by the need for tailored and customizable security solutions. Homeowners are increasingly valuing systems that can be individually designed to meet the specific requirements of their residences. Independent homes often have unique layouts and security concerns, making personalized security systems crucial. The ability to choose specific components, such as cameras, sensors, and alarms, allows residents to create a security infrastructure that aligns precisely with their preferences and concerns. This customization not only enhances the efficacy of home security but also provides a sense of ownership and control.
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Europe home security systems market will grow at a strong CAGR through 2032, credited to the rising concerns over home safety and security, coupled with an increasing trend towards smart homes. There is a wider focus on real-time monitoring, remote access, and integration with other smart home devices. Stringent regulations and initiatives by European governments aimed at promoting residential security contribute to the market expansion. The emphasis on privacy and the need for reliable surveillance systems surges the installation of sophisticated security solutions.
Some of the notable companies in the home security systems market are ADT, Allegion, Resideo Technologies Inc., Robert Bosch, Johnson Controls, SECOM, and Assa Abloy.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Home security systems market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total addressable market (TAM), 2023-2032
2.3 Regional trends
2.4 Home type trends
2.5 Security trends
2.6 Systems trends
2.7 Distribution type trends
Chapter 3 Home Security Systems Market Industry Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Security & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Increased awareness of home security risks
3.10.1.2 Growing popularity of smart homes
3.10.1.3 Increased urbanization
3.10.1.4 Ongoing advancements in technology
3.10.1.5 User-friendly do-it-yourself options make security systems more accessible.
3.10.2 Industry pitfalls & challenges
3.10.2.1 Cybersecurity threats
3.10.2.2 Technical Complexity
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
