Home Security System Market Size, Growth, Trend and Forecast to 2023

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MarketsandMarkets Presents
Home Security System Market by Home Type
(Independent Homes, Apartments), System Type
(Professionally Installed Monitored,
Self-Installed Professionally Monitored,
Do-It-Yourself), Offering (Products, Services),
and Geography - Global Forecast to 2023 The home
security system market is expected to reach USD
74.75 billion by 2023 from USD 45.58 billion in
2018, at a CAGR of 10.40
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MarketsandMarkets Presents
Independent homes to hold largest share of market
by 2018 There is an increasing concern about
security among the independent homeowners. The
number of independent households is high in the
economically developed countries, such as the US,
Canada, Germany, etc. Also, those who own the
induvial homes usually have a high total
household income. The independent homes are more
frequently built in isolated locations, and in
case of the medical emergencies or the
emergencies like burglary/theft, the necessary
help may not be available in the area nearby
these homes. Considering these factors, the
adoption of home security systems among
independent homeowners is high.
3
MarketsandMarkets Presents
Home security system market for do-it-yourself
security systems to grow at highest CAGR during
forecast period One of the major factors
contributing to the projected high growth of the
market for DIY security systems is the cost
optimization ensured by these systems. Some of
the products offer integrated alarm triggers and
other smart features during a break-in or
security cameras for the monitoring purposes. The
penetration of home security systems is still
low, and the customers from economically
developing countries prefer deploying DIY systems
for the security within their budgets. Download
PDF Brochure _at_ https//www.marketsandmarkets.com/p
dfdownloadNew.asp?id205573901 Also, some
companies help the customers with user manuals
and guidance tools for the system installation
and integration. Although the systems do not
provide a connection with a professional
monitoring station, the customers can remotely
monitor the home using their smartphones.
Therefore, with the growing adoption of home
security systems, the DIY systems become an
attractive alternative for the newer customers
with average disposable incomes.
4
MarketsandMarkets Presents
Americas to hold largest size of home security
system market by 2023 The largest size of the
American market is attributed to the early
adoption of home security systems in this region.
Moreover, the region is home to major companies
functional in the market, such as Johnson
Controls (US), Honeywell (US), and UCT (US).
Also, the prominent monitoring security service
providers such as ADT (US), Vivint (US), and
Protect America (US) generate the majority of
their revenues in this region itself. Moreover,
economically and technically developed countries,
such as the US and Canada, hold a large number of
households with high disposable income.
Additionally, the introduction of IoT and the
development of smart cities have given a boost to
the home security system market in the region.
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MarketsandMarkets Presents
ADT (US), Honeywell (US), Johnson Controls (US),
HANGZHOU HIKVISION DIGITAL TECHNOLOGY (China),
ASSA ABLOY (Sweden), SECOM (Japan), Robert Bosch
(Germany), United Technologies (US), Godrej
Boyce (India), Alarm.com (US), Allegion (Republic
of Ireland), Control4 (US), Schneider Electric
(France), Legrand (France), ABB (Switzerland),
Comcast (US), STANLEY Convergent Security
Solutions (US), Nortek Security Control (US),
FRONTPOINT (US), and Vivint (US) are the major
players in the home security system market. Other
key companies, including innovators and start-ups
in the home security system market, are Armorax
(US), Nest Secure (US), Notion (US), Canary (US),
Scout (US), Simplisafe (US), and Cacoon (US).
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MarketsandMarkets Presents
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