The Internet of Things has made it easier than ever to set up a smart home in which you can remotely control your door locks, lights, thermostats, vacuums, lawnmowers, and even pet feeders, using your smartphone and an app. It's also made it simple (and relatively affordable) to monitor your home from pretty much anywhere. Home security systems are highly customizable and available as do-it-yourself kits or as full-blown setups that include professional installation and monitoring.
Scope of the Report:
This report studies the Home Security System market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Home Security System market by product type and applications/end industries.
Increasing incidence of crime rates and increasing rate of burglary are the factors that necessitate the home security solutions. Design of efficient and sophisticated security systems along with user-friendly installation features enabled by wireless technology are the key factors that are expected to boost the market growth. Furthermore, availability of remote monitoring with the aid of mobile devices along with beneficial insurance policies are also expected to fuel the growth of the home security solutions market. Large initial investment and cost of maintenance of the equipment along with lack of awareness regrading technological enhancements are the factors that are likely to restrain the growth of the market. The strategies adopted by telecom providers & electrical distributors are the factors that will create abundant growth opportunities in this market. Low adoption rate of security solution systems is a key market challenge faced by manufactures and key market players. Customer acquisition & retention are key issues that are expected to have great impact on the growth of the world home security solutions market.
The global Home Security System market is valued at xx million USD in 2017 and is expected to reach xx million USD by the end of 2023, growing at a CAGR of xx% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Home Security System.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
Market Segment by Companies, this report covers
Bosch Security Systems
Honeywell Security Group
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Electronic and Smart Locks
DIY Home Security
Sensors and Detectors
Market Segment by Applications, can be divided into