Home Security Solution Market Drivers, Opportunities and Technological Innovations to 2024
Date: 2019-01-29   Author: Ronak Bora  Category: #market

Home Security Solution Market Drivers, Opportunities and Technological Innovations to 2024

Home Security Solution Market size is anticipated to witness growth opportunities over the forecast timeline owing to the increasing crime rates and immoral practices in residential areas. Effective and modernized security systems, such as remote monitoring services, are increasing the consumer interest in the residential security solutions, propelling the market.

Technological advancements in the home security solution market have developed gradually over the years. Various features, such as sensors, alarms, smart locks, motion sensing, cameras, night vision, wireless technology, and internet connections, are available in the market making it possible for residential or homeowners to utilize them. The growing demand for wireless technology and its ease of installation have offered many opportunities for the home security solution market growth globally.

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Residential home security solution market is booming owing to the growing trend towards high-security efficiency due to customer awareness. The integration of ICT and data usage is helping in achieving the trend. The incorporation of home security cloud-based wireless solutions is predicted to surge over the forecast timeframe. This is due to the ability of cloud-based solutions to deliver services such as personalization, interactivity, and multi-screen usage. It is anticipated that the dynamic forces aimed at home security solution market are slowly shifting towards hi-tech from mechanical activities as users are seeking improved & advanced operational efficiencies and want cost-effective solutions.

The home security solution market by-products can be divided into biometric locks, keypad locks, magnetic/electric card locks, wireless, locks, sensors, cameras, and panic buttons/alarms. Advanced sensor developments for the recognition of intruders & unauthorized people and biometrics and card based access control will have a huge effect on the home security solution market. Biometrics security solutions have various applications such as facial recognition, fingerprint recognition, and iris recognition. Biometrics is gaining admiration and demand in home security solutions market due to its remote scanning feature, in which the door locks can be controlled from a distance.

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The home security solution market by solution types can be divided into access control & management, fire protection systems, intercom, intruder alarm, motion sensor lights, medical alert, and video surveillance. The industry by home type can be divided into apartments, condominiums, and independent homes. Integrated home security systems will witness a considerable market growth due to the growing awareness about elderly people requiring medical assistance, monitoring children, and detection of hazardous conditions such as gas leaks and fires.

North America is anticipated to hold a significant market share in the home security solution market due to the presence of many companies, which are providing these solutions. In the U.S., it is expected that some 15 million and more U.S. homes will invest and install in new home security solutions in the coming years. The growing list of smart home solution services and providers in the U.S. is using home security to introduce the automation services for homes. In the U.S. market, home security solution market is exhibiting a considerable growth due to an increase in the fire & smoke injuries & deaths.

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Major players in the home security solution market industry include Allegion PLC, Alarm.com, ASSA ABLOY, Bosch Security Systems, Control4 Corporation, Godrej & Boyce Manufacturing Company Limited, Honeywell International, Inc., Ingersoll-Rand Solutions, Nortek Security & Control LLC, Tyco, and UTC Fire & Security.

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About Author


Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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