This report segments the home security system market based on product (electronic and smart locks, alarms, security cameras, security solutions, DIY home security, sensors and detectors) and geography (the Americas, EMEA, and APAC). The report discusses the major drivers and trends influencing the growth of the market, and a detailed analysis of the top vendors such as ASSA ABLOY, Bosch Security Systems, Honeywell Security Group, Tyco, ADT, and Nortek.
Technavio has released its new market research report, global home security system market, which is expected to grow at a CAGR of around 13% between 2015 and 2019. Owing to the rising incidents of security concerns, consumers are opting for wireless and technologically advanced products to ensure greater security for their families. The Americas lead the global home security system market, accounting for 48% of the overall market share. Following the burgeoning trend towards smart homes and smart products, people are investing increasingly on smart home security products and solutions.
“Of late, the market is witnessing the emergence of customized home security solutions and integrated packages. Vendors are offering various tailored solutions to cater to the specific needs of customers. For instance, Honeywell provides solutions that help end users to set accurate temperature at residences. Smartphones and tablets can be used to unlock doors. Moreover, vendors are incorporating solutions such as infant monitoring, pet monitoring, and intruder alerts into smartphones and tablets, to enable live monitoring,” says Jhansi Mary, Lead Analyst, Education, Technavio Research.
Owing to improvement in network infrastructure, broadband and internet penetration has increased, and consumers are increasingly opting for wireless and technologically advanced products to ensure more security for their families. Therefore, vendors are expanding their distribution channels and R&D expenditure to improve their product offerings and leverage on the trend of home automation. As the trend towards home automation and smart homes grows, the market will gain traction
The key players in the global home security system market include ASSA ABLOY, Bosch Security Systems, Honeywell Security Group, Tyco, ADT, and Nortek. This market is fairly concentrated with a few major players holding the majority of the market share. The innovation in technology and products among the leading vendors plays an essential role in the growth of the market. The market also exhibit a considerable influx of private labels and startups in the market, especially in the DIY home security products market.
A more detailed analysis is available in the Technavio report, Global Home Security System Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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- Global Home Automation System Market 2015-2019
- Smart Home M2M Market in UK: Market Research Report 2015-2019
- Connected M2M Home Appliance Market in the US 2014-2018
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