Press release
Home Security System Global Market Report 2024 - By Share, Size, Demand, Trends, Outlook By 2033
Home Security System Market
The home security system market size is expected to see steady growth in the next few years. It will grow to $4.94 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to energy efficiency and sustainability, elderly and child monitoring solutions, interoperability standards, growing demand for video surveillance systems, . Major trends in the forecast period include advancements in technology, integration with smart home ecosystems, video analytics and facial recognition, increased adoption of wireless technologies, smart sensors and detectors, innovations in alarm technologies, elderly and child monitoring solutions.
Market Overview -
A home security system is a collection of devices that work together to keep the house safe and secure which avoids the entry of burglars and home intruders.
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The Increasing Usage Of IOT Devices Drives The Home Security System Market Growth
The increasing usage of internet of things (IoT) devices is expected to propel the growth of the home security system market over the forecast years. The internet of things (IoT) refers to a system of internet-connected objects that can collect and transfer data through a wireless network without human intervention. In terms of home safety, IoT security solutions are used to gain a better understanding of who enters and exits a facility in real-time, monitor facility conditions reliably and securely from any location with Wi-Fi connection, important security notifications are transmitted directly to their mobile device, allowing them to act swiftly. For instance, according to Norton, a US-based antivirus and anti-malware software development company estimate that in 2021 there are around 11.6 billion IoT devices used, and it will grow to 21 billion IoT devices by 2025. Therefore, the emergence of the internet of things and wireless technologies drives the home security system market growth.
Competitive Landscape -
Major companies operating in the home security system market report are ADT LLC, Honeywell International Inc., Johnson Controls International plc., Hangzhou Hikvision Digital Technology Co. Ltd., Assa Abloy AB, Secom Co. Ltd., Robert Bosch GmbH, United Technologies Corporation, Godrej & Boyce Mfg. Co. Ltd., Allegion plc, Control4 Corporation, Schneider Electric SE, Nortek Security & Control LLC, Vivint Inc., Armorax Limited, Google Nest, Loop Labs Inc., Canary Connect Inc., Scout Security Group, SimpliSafe Inc., Securitas AB, Bosch Security Systems Inc., Legrand Group, Resideo Technologies Inc., STANLEY Convergent Security Solutions Inc., SkyBell Technologies Inc., Apple Inc., LiveWatch Security LLC, Amazon. com Inc., FrontPoint Security Solutions LLC, NETGEAR Inc., Samsung Electronics Co. Ltd., Alphabet Inc., Comcast Corporation, Swann Communications Pty Ltd., Lorex Technology Inc., Night Owl SP LLC, Defender, Amcrest Technologies LLC, Zmodo Technology Corporation, Reolink Digital Technology Co. Ltd., LaView Inc., ANNKE INNOVATION (HK) CO. LIMITED, Shenzhen Fosca*m Intelligent Technology Co. Ltd.
Artificial Intelligence And Deep Learning Revolutionize Home Security Systems
Implementation of artificial intelligence (AI) and deep learning in home security systems is shaping the home securities system market. Artificial intelligence is used in home automation for human behavioral patterns and to automate home devices. It is used in daily household activities as a security system and acting as technology in improving the home security system market. For Instance, in 2021, Samsung, a home security-based company has integrated AI-based Bixby voice control which can recognize individuals in the home. The user can control the device by voice through a Samsung TV. It has the technology to display the person who is standing in front of the door and act as a home security system.
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Key Segments -
The home security system market covered in this report is segmented -
1) By System: Fire Protection System, Video Surveillance System, Access Control System, Entrance Control System, Intruder Alarm System
2) By Component: Hardware, Software, Services
3) By Security Type: Professionally-Installed And Monitored, Self-Installed And Professionally Monitored, Do-It-Yourself (DIY)
4) By End User: Condominiums, Apartments, Independent Homes
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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