Boost in Technological Advancement in Security System Projected to Proliferate theAPAC Home SecurityMarket Growth

The Home Security market witnessed an astronomical growth rate in the Asia-Pacific owing to the increasing governments inclination toward the development of smart homes. Smart homes require the installation of home security solutions and services which is anticipated to fuel the demand for smart home security devices such as fire protection, video surveillance, intruder alarms etc., in the forecast period.

In addition, burgeoning adoption of advance technology such as artificial intelligence and IoT in the home security system, rising investment toward the development of residential building, and surging crime rate in the country such as India and China have encouraged the deployment of home security systems in the region.

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According to MarkNtel Advisors’ research report titled“APAC Home Security Market Analysis, 2020”, the APAC Home Security market is anticipated to grow at a CAGR of around 11% during 2020-25. Based on region, China dominated the APAC Home Security Market and is anticipated to continue its dominance during the forecast period on an account of launch of advance video surveillance solutions. Surging individual and household income coupled with proliferating awareness about safety amongst people and bolstering mergers and partnerships among companies would upsurge the growth of Home Security market in the country.

Japan and India are expected to foresee high growth rate in the forthcoming years on an account of rapidly increasing smart homes in the markets. Moreover, the growing emergence of the Internet of Things (IoT) and wireless technologies along with escalating integration of IP cameras for video surveillance in individual homes and apartment is anticipated to fuel the demand for security system in the coming years.

“APAC Home Security Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Home Security providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

Solution Segment Acquired the Largest Market Share

Based on offering, solution acquired the largest market share in the APAC Home Security market due to the rise in the demand for solutions such as fire protection, video surveillance, entrance control, and intruder alarms in the smart homes. Video surveillance acquired the highest market share in the solution market owing to the rising awareness amongst the people regarding home security and adoption of innovative technologies such as AI and deep learning in the system to empower high reliability and accuracy.Moreover, escalating integration of surveillance by the governments of South Korea and China to trace the movement of the coronavirus patientsis expected to augment the demand for Home Security in the forthcoming period as stated in the MarkNtel Advisors’ research report“APAC Home Security Market Analysis, 2020”.

According to MarkNtel Advisors, the key players with a considerable market share in the APAC Home Security market include ADT, Johnson Control, ABB, Legrand, Schneider Electric, Nortek, Robert Bosch, AssaAbloy, Hikvision, Honeywell etc.

Market Segmentation:
1. By Offering (Solutions (Fire Protection, Video Surveillance, Access Control, Entrance Control, Intruder Alarms), Service (managed service, professional service))
2. By Applicant (Independent Homes, Apartment&Condominiums)
3. By Country (China, Japan, South Korea, Australia, India),
4. By Company (ADT, Johnson Control, ABB, Legrand, Schneider Electric, Nortek, Robert Bosch, AssaAbloy, Hikvision, Honeywell etc.)

Key questions answered in the study:
1. What are the current and future trends of the Home Security industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Home Security industry?
5. What is the customer orientation, purchase behavior, and expectations from the Home Security firms across various regions?

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We understand the growing need of our clients and thus focus on emerging industries to provide our services which can fulfill their need for assessing the current and future industry potential, identification of white spaces, hotspots and venturing into new geographies or business segments.

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