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.
Emerging trends, which have a direct impact on the dynamics of the home security 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.
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. The report 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.
Frontpoint Security Solutions
Godrej & Boyce Manufacturing Company Limited
Honeywell International Inc.
Protection One Alarm Monitoring, Inc
Robert Bosch GmbH
United Technologies Corporation
Key Topics Covered:
1. Executive Summary
2. Industry Background and Classifications
3. Market Trends and Forecast Analysis from 2011 to 2022