Growth Opportunities in the Global Home Security Market
NEW YORK, Nov. 10, 2020 /PRNewswire/ -- Trends, opportunities and forecast in this market to 2025 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)
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The future of the home security market looks attractive with opportunities in the residential sector. The global home security market expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $62.3 billion by 2025 with a CAGR of 7% to 9% from 2020 to 2025. The major growth drivers for this market are increasing rate of crime, declining prices of security products, increasing awareness related to safety and security, and the growing adaption of cloud-based technologies.
Emerging trends, which have a direct impact on the dynamics of the home security industry, include adoption of artificial intelligence and machine learning software in the residential security sectorand constant developments of security technologies, such as smart cameras and sensors.
In this market, professional is the largest installation type, whereas service is largest product and service type. Growth in various segments of the home security market are given below:
Home Security Market by Segments
The study includes a forecast for the global home security market through 2025 by product and service type, type of installation, and region as follows:
Home Security Market by Product and Service Type [$M shipment analysis from 2014 to 2025]:
• Equipment
• Electronic Lock
• Video Surveillance
• Fire Sprinklers & Extinguishers
• Intruder Alarms
• Services
Home Security Market by Type of Installation [$M shipment analysis from 2014 to 2025]:
• DIY
• Professional
Home Security Market by Region [$M shipment analysis for 2014 – 2025]:
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Asia Pacific
• Japan
• China
• South Korea
• India
• The Rest of the World
Home security companies profiled in this market include ADT Corporation, Monitronics International, Vivint Inc., Protection One, and UTC Fire & Security are among the major home security system & service providers.
The analyst 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. The analyst 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.
Some of the features of this report:
• Market size estimates: Global home security market size estimation in terms of value ($M) shipment.
• Trend and forecast analysis: Market trend (2014-2019) and forecast (2020-2025) by segments and region.
• Segmentation analysis: Global home security market size by various applications such as product and service type, and type of installation in terms of value and volume shipment.
• Regional analysis: Global home security market breakdown by key regions such as North America, Europe, and Asia & Rest of World.
• Growth opportunities: Analysis on growth opportunities in different applications and regions of global home security market.
• Strategic analysis: This includes M&A, new product development, and competitive landscape of global home security market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.
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 home security market?
Q.5 What are the business risks and threats to the home security market?
Q.6 What are the emerging trends in this home security market and reasons behind them?
Q.7 What are some changing demands of customers in the home security market?
Q.8 What are the new developments in the home security market? Which companies are leading these developments?
Q.9 Who are the major players in this home security 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 by the major home security suppliers in the last 5 years?
Report Scope
Key Features Description
Base Year for Estimation 2019
Trend Period
(Actual Estimates) 2014-2019
Forecast Period 2020-2025
Pages 140
Market Representation / Units Revenue in US $ Billion and Volume in Million Units
Report Coverage Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger Acquisitions & Joint Venture, and Company Profiling
Market Segments By type (equipment and service), by type of installation (DIY type and professional type)
Regional Scope North America (The United States, Canada, and Mexico), Europe (the UK, Germany, and France), Asia Pacific (Japan, China, South Korea, and India), and RoW
Customization 10% Customization Without any Additional Cost
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