Home Security System Market size is set to grow by USD 25.8 billion from 2024-2028, growth of DIY home security systems to boost the revenue- Technavio

0
Home Security System Market size is set to grow by USD 25.8 billion from 2024-2028, growth of DIY home security systems to boost the revenue- Technavio

NEW YORK, Nov. 26, 2024 /PRNewswire/ — The global home security system market  size is estimated to grow by USD 25.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.1%  during the forecast period.  Growth of diy home security systems is driving market growth, with a trend towards evolution of IoT. However, increasing instances of false alarms  poses a challenge. Key market players include ABB Ltd., ADT Inc., Alarm.com Holdings Inc., Allied Universal, Amazon.com Inc., August Home Inc., Canary Connect Inc., Cisco Systems Inc., Comcast Corp., EMERSON RADIO CORP., General Electric Co., Honeywell International Inc., Johnson Controls International Plc., Kuna Systems Corp., LG Electronics Inc., Ooma Inc., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Simplisafe Inc., TP Link Corp. Ltd., Vanderbilt International GmbH, and Xiaomi Communications Co. Ltd., Nortek Security & Control, ADT LLC, ASSA ABLOY, Vivint, Inc., Bosch GmbH, Arlo Technologies, Schneider Electric

Technavio has announced its latest market research report titled Global home security system market 2024-2028
Technavio has announced its latest market research report titled Global home security system market 2024-2028

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Video surveillance system, Alarm system, and Access control system), Distribution Channel (Offline and Online), Home Type ( Independent Home, Apartment, Condominiums), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

ABB Ltd., ADT Inc., Alarm.com Holdings Inc., Allied Universal, Amazon.com Inc., August Home Inc., Canary Connect Inc., Cisco Systems Inc., Comcast Corp., EMERSON RADIO CORP., General Electric Co., Honeywell International Inc., Johnson Controls International Plc., Kuna Systems Corp., LG Electronics Inc., Ooma Inc., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Simplisafe Inc., TP Link Corp. Ltd., Vanderbilt International GmbH, and Xiaomi Communications Co. Ltd., Nortek Security & Control, ADT LLC, ASSA ABLOY, Vivint, Inc., Bosch GmbH, Arlo Technologies, Schneider Electric

Key Market Trends Fueling Growth

The Home Security System market is thriving with trends such as wireless technologies, video surveillance systems, access control systems, and fire protection systems. These systems include smoke detectors, flame detectors, heat detectors, sprinklers, extinguishers, and fire alarms with sirens and control panels. Fire analysis software is also gaining popularity. Homeowners and building managers prioritize security against fire, smoke, carbon monoxide poisoning, water damage, burglary, and other threats. Artificial intelligence and machine learning are integral, reducing false alarms and detecting abnormal activities through video analytics and verification. Smart homes integrate IP cameras, home security devices, and IoT technology with intelligent monitors and sensors. High-speed network solutions ensure real-time surveillance capabilities. Access control systems secure sensitive information and assets with various methods like deadbolt locks, sliding glass doors, toggle locks, proximity access control, biometric access control, mobile access control, and wireless access control. The IoT market and home automation systems offer personal safety, video door surveillance, motion-detecting cameras, night vision technology, and intelligent alerts. Affordable solutions, insurance discounts, and personalization and expandability attract customers. However, monthly subscription fees, privacy concerns, and integration challenges remain challenges.

link

Leave a Reply

Your email address will not be published. Required fields are marked *