Home Security Systems Market By Product Type (Security Cameras, Alarms, Sensors And Detectors, Fire Sprinklers & Extinguishers, Panic Buttons, RFIDs & Smart Cards, Biometrics, Electronic And Smart Locks), By System Type (Fire Protection Systems, Video Surveillance Systems, Access Control Systems, Entrance Control Systems, Intruder Alarms Systems, Others), By End-user (Condominiums & Apartments, Independent Homes) - Growth, Future Prospects & Competitive Analysis, 2018 - 2026

Overview:

The global home security systems market is likely to witness a remarkable growth, expanding at a CAGR of 8.3% during the forecast period from 2018 to 2026. Security is one of the main concern of the present day. In a world of continuous technological advancements and automation, home security systems are developing at a rapid pace and expected to witness immense growth across the globe. The past idea of comfortable living have changed extensively since the advent of digital and wireless technologies. Rising criminal activities and incidences of threats have led to the high demand for having an enhanced safety and security system. This is expected to boost the growth of global home security systems market worldwide.

In the past decade, home security has made far-reaching changes and continues to progress more in the years to come. Home security systems work efficiently on the principle of safeguarding entry points such as doors, windows, exterior and interior spaces containing various valuables and essentials. Rising advancements in smartphone technology and remote monitoring coupled with growing demand for smart homes is facilitating the growth of global home security systems market across the globe. Rapid urbanization have led to the need for better security systems that can be monitored via smartphones. As a result, growing inclination towards safety and security is expected to augment the home security systems market in the years to come.

Market Snapshot

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"Independent Homes accounted for the Largest Market Share in 2017"

In 2017, based on end-user, independent homes accounted for largest market share in the global home security systems market. Increasing safety and security concerns among the independent homeowners is enhancing the demand of home security systems. The number of independent homes is high in the developed countries including U.S., Germany, etc. Independent households are more frequently built in isolated locations, and in case of emergencies like theft, burglary, medical emergencies, etc. the required help may not be available in the area nearby these homes. As a result, the adoption rate of home security systems is high amongst the independent homeowners.

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"North America Garnered Largest Market Share in 2017"

The home security systems market, based on geography was dominated by North America in 2017 and projected to grow at a significant rate throughout the forecast period from 2018 to 2026. The growth of this segment is mainly attributed to the early adoption of home security systems as countries in this region hold a large number of households with high disposable income. Moreover, the presence of some prominent players including Johnson Controls, ADT Inc., Honeywell International Inc., United Technologies Corporation, etc. is expected to provide varied opportunities to the home security systems market in the years to come. The growing significance of security systems in the region will drive the growth prospects of the market during the forecast period from 2018 to 2026.

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Competitive Insights

Major players in the home security systems market include Robert Bosch Limited, Honeywell International, Inc., ADT Inc., Brinks Home Security, Frontpoint Security Solutions, Johnson Controls International plc, United Technologies Corporation, Godrej & Boyce Manufacturing Company Limited, Alarm.com, Allegion plc, Control4 Corporation, Schneider Electric, Legrand, ABB, Comcast, STANLEY Convergent Security Solutions, Inc., Nortek Security and Control, and Vivint, Inc. among others.

The presence of large number of players has made the home security systems market highly fragmented as well as competitive. The players are launching new products and upgrading their existing systems to provide more efficient and safe products. For instance, in November 2017, Honeywell International, Inc. launched its all-in-one self-monitored and self-installed home security system. The home security system lets consumers be aware of the happenings around their home. The self-monitored home security system features Amazon Alexa and can be customized and upgraded with fixtures to fit the precise needs for security and comfort of the homes.

Historical & Forecast Period

The research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

Home security systems market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global home security systems market based on product type, system type, end-user and geography. Key segments covered in the report are as follows:

Key questions answered in this report

• What was the market size of home security systems in 2017 and forecast up to 2026?
• What are the key factors driving the global home security systems market?
• What are the key market trends and high-growth opportunities observed in the home security systems market?
• What are the drivers of the home security systems market?
• Which is the largest regional market for home security systems market?
• Which segment will grow at a faster pace? Why?
• Which region will drive the market growth? Why?
• Which players are leading the home security systems market?
• What are the sustainability strategies adopted by the key players operating in the market?