Press release
Residential Security Market Trends 2017 and Industry Forecast 2023
Market Scenario:
Residential security is an electronic system which ensures security and safety of the building or an individual. It is basically a system which is designed to protect individuals or properties against fire accidents, theft among others. It is a combination of various security devices such as sensors and actuators to ensure safety.
The factors contributing to the growth of the residential security market are increasing consumer awareness, growing security concerns, the increasing use for wireless technology in security systems, increasing adoption of new technological solutions and the devices at a cheaper cost. Also, factors such as the technological changes in the extinguishers and sprinklers and also the adoption of data driven solutions such as analytics are expected to boost the market over the forecast period, 2017-2023.
Geographically, North America accounted for the largest market share in the global residential security market, whereas Asia-Pacific is expected to grow at a fast pace over the forecast period, 2017-2023
The global Residential Security Market is expected to reach approximately USD 63 billion by the end of 2023 with 10% CAGR during forecast period 2017-2023.
Study Objectives of Global Residential Security Market:
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global residential security market.
• To provide insights about factors affecting the market growth.
• To analyze the global residential security market based porter’s five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
• To provide country level analysis of the market with respect to the current market size and future prospective.
• To provide country level analysis of the market for segment by product, solution, residential type and region.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global residential security
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Key Players
The key players in the global residential security market include- Honeywell International, Inc. (U.S.), Tyco International Ltd (U.S.), Bosch Security Systems (Germany), ASSA ABLOY AB (Sweden), Allegion (U.S.), Control4 (U.S.), UTC Fire & Security (U.S.), Godrej & Boyce Manufacturing Company Limited (India), Nortek Security and Control (U.S.), ADT Security Services (U.S.), United Technologies Corporation (U.S.), among others.
Segments
For the purpose of this study, Market Research Future has segmented the market of residential security into product, solution, residential type and region.
Product
• Smart Locks
• Sensors
• Security Alarms
• Fire Sprinklers & Extinguishers
• Security Cameras
Solution
• Audio-Video Surveillance
• Home Integrated System
• Fire Protection
• Alert System
• Intercom System
• Access Control Management
Residential Type
• Independent
• Apartment
Region
• North-America
• Europe
• Asia-Pacific
• RoW
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Regional Analysis-
Regionally, North-America accounted for the largest market share, increased adoption of new technological solutions, and cost of such equipment is low and also the introduction of various types of new IP based cameras.
However, Asia-Pacific region is expected to grow over the forecast period, 2017-2023. The reason is attributed to the growth of the developing countries, growing security concerns and the availability of new technological solutions.
Intended Audience
• Manufacturers
• Distributors
• Research firms
• Consultancy firms
• Software Developers
• Vendors
• Semiconductor Manufacturers
• End-user sectors
• Technology Investors
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