According to a new market report published by Lucintel, the future of the home security market looks attractive with opportunities in the residential sector. The global home security market is expected to reach an estimated $51.5 billion by 2025 and it is forecast to grow at a CAGR of 9.2% from 2020 to 2025. The major growth drivers for this market are increasing rate of crime, declining prices of security products, increasing awareness related to safety and security, and the growing adaption of cloud-based technologies.
Browse 83 market data tables and 60 figures spread through 140 pages and in-depth TOC on “Global Home Security Market"
In this market, equipment (electronic lock, video surveillance, fire sprinklers & extinguishers, and intruder alarms) and services are the segments by type. Lucintel forecasts that the home security service is expected to remain the largest segment due to the increasing need for continuous monitoring services to reduce the risk of crime, burglary, and theft. The equipment segment is expected to experience the highest growth rate during the forecast period, supported by the increasing demand for electronic locks and intruder alarms to protect unauthorized access in residential premises.
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Within the home security market, professional installed is expected to remain the largest installation type due to the increasing demand for 24/7 monitoring service. Lucintel predicts that the DIY (Do-it-yourself) segment is expected to experience the highest growth rate during the forecast period, supported by easy configuration and less installation cost.
North America is expected to remain the largest region during the forecast period due to the increasing usage of technologies and digitalization in the US and Canada. Asia Pacific is expected to witness the highest growth over the forecast period because of increasing awareness on home safety and security.
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Emerging trends, which have a direct impact on the dynamics of the industry, include adoption of artificial intelligence and machine learning software in the residential security sector and constant developments of security technologies, such as smart cameras and sensors. ADT Corporation, Monitronics International, Vivint Inc., Protection One, and UTC Fire & Security are among the major home security system & service providers.
The study includes a forecast for the global home security market by type, type of installation, and region as follows:
By Product and Service Type [$M shipment analysis from 2014 to 2025]:
Equipment
Electronic Lock
Video Surveillance
Fire Sprinklers & Extinguishers
Intruder Alarms
Services
By Type of Installation [$M shipment analysis from 2014 to 2025]:
By Region [$M shipment analysis for 2014 – 2025]:
North America
United States
Canada
Mexico
Europe
United Kingdom
Germany
France
Asia Pacific
Japan
China
South Korea
India
The Rest of the World
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This 140-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/toc/home_security_market_2020_2025.aspx or helpdesk@lucintel.com
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