Residential Security Market to Showcase High Growth; to cross USD 77.6 BN Mark by 2026
Posted On December 01, 2020
During the period of 2020-2026 it is expected that the Global Residential Security Market will showcase a CAGR of 8.50%. The market is foreseen to reach USD 77.6 BN by 2026 while it was valued at USD 43.8 BN in 2019 as stated in a the published market study by Value Market Research. Residential Security solutions offer the best protection of properties against intrusion and other vulnerabilities, keeping everyone's home safe and secure. The key trends leading to the adoption of security systems for residential properties are rising fraudulent activities and increasing illegal intrusions and terror attacks. Increasing disposable income and the growing number of smart cities will further benefit market growth. The increasing awareness about home security systems, the emergence of AI, the Internet of Things (IoT), and wireless technologies will boost the market growth. The emerging demand for effective, scalable, and sustainable security systems will further propel market growth. The main restraining factor for this market's development is the high cost of installing and maintaining home security systems.
Residential security, also called estate security, is a system or service used to safeguard people, monitor properties' safety, deter criminals, burglars, and prevent break-ins and invasions into privacy. It can range from minimal supervision via remote surveillance monitoring to more intrusive, higher-level measures of security. Residential security systems can be a combination of technology, workforce, and procedures. These systems can be operated during a power failure and warn about potential environmental dangers such as bad air quality, flood, excess presence of carbon monoxide, etc. Advanced residential security systems are easy to install, tamper-proof, exhibit a discreet design that blends well with home decor, use robust encryption and PIR detection algorithms that aid in eliminating cyber-attacks and false alarms.
The initial sections of the report "Global Residential Security Market Report By Product (Smart Locks, Security Camera, Security Alarms, Sensors, Fire Sprinklers And Extinguishers), By Solution (Access Control And Management, Home Integrated Security, Alert System, Intercom System, Audio-Video Surveillance System And Fire Protection), By Residential Type (Independent And Apartment) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" starts with the introduction, a crisp market summary followed by detailed revenue analysis as per segments and regions. The market drivers responsible for pushing the market growth are discussed in length in the report. The residential security market opportunities are useful to identify the profit canters and take the strategic decision accordingly.
On the basis of product the market is segmented into Smart Locks, Security Camera, Security Alarms, Sensors, Fire Sprinklers And Extinguishers. By solution the residential security market is categorised as Access Control And Management, Home Integrated Security, Alert System, Intercom System, Audio-Video Surveillance System, Fire Protection. By residential type the residential security market is categorised as Independent, Apartment. The other regions studied in the report are North America, Europe, Latin America and Middle East & Africa. The regional spread of all the segments and sub segments are detailed in the report.
The Report Segments Global Residential Security Market -
- Smart Locks
- Security Camera
- Security Alarms
- Fire Sprinklers And Extinguishers
- Access Control And Management
- Home Integrated Security
- Alert System
- Intercom System
- Audio-Video Surveillance System
- Fire Protection
By Residential Type
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
ADT LLC dba ADT Security Services, Allegion Plc., Bosch Security Systems GmbH, CONTROL4® CORPORATION, Frontpoint Security Solutions, Godrej & Boyce Mfg. Co. Ltd., Honeywell International Inc., Ingersoll-Rand Plc., Nortek Security and Control and United Technologies.
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