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 2022 and it is forecast to grow at a CAGR of 9.2% from 2017 to 2022. 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.
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.
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.
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.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global home security market by type, installation type, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Home Security Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. 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 2011 to 2022]:
− Electronic Lock
− Video Surveillance
− Fire Sprinklers & Extinguishers
− Intruder Alarms
By Type of Installation [$M shipment analysis from 2011 to 2022]:
By Region [$M shipment analysis for 2011 – 2022]:
• North America
– United States
– United Kingdom
• Asia Pacific
– South Korea
• The Rest of the World
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 firstname.lastname@example.org. Lucintel offerings include Telecommunication Report, Telecommunication Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Matrix.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global home security market by type (equipment and service), by type of installation (DIY type and professional type), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?