Home security systems market in APAC to grow at the highest rate during the forecast period
The global home security systems market size is expected to grow from USD 56.9 billion in 2022 to USD 84.4 billion by 2027, at a CAGR of 8.2% during the forecast period.
Applications Driving Market Growth
The applications of home security systems are varied and evolving, catering to a wide range of security needs and preferences:
Intrusion Detection and Burglar Alarms: Traditional intrusion detection systems, including door/window sensors, motion detectors, and glass break sensors, remain a cornerstone of home security. These systems alert homeowners and monitoring centers to unauthorized entry attempts, deterring burglars and safeguarding property.
Video Surveillance and Monitoring: With the proliferation of smart security cameras and cloud-based monitoring services, video surveillance has become a prevalent feature of modern home security systems. High-definition cameras with night vision, motion detection, and two-way audio enable real-time monitoring and remote viewing of home interiors and exteriors.
Access Control and Smart Locks: Access control systems and smart locks offer enhanced security and convenience by allowing homeowners to manage access to their homes remotely. Smart locks equipped with biometric authentication, keyless entry, and mobile app integration enable secure entry and monitoring of entry points.
Fire and Life Safety: Home security systems often incorporate fire detection and life safety features, including smoke detectors, carbon monoxide sensors, and emergency response services. Early detection of fire and hazardous conditions enables timely evacuation and reduces the risk of property damage and personal injury.
Environmental Monitoring: Home security systems may include environmental sensors for monitoring temperature, humidity, and water leaks. These sensors alert homeowners to potential hazards such as freezing pipes, HVAC malfunctions, and water damage, preventing costly repairs and property damage.
Do-It-Yourself (DIY) security market to grow at a high rate from 2022 to 2027
The market for Do-it-Yourself (DIY) security systems is expected to grow at the highest CAGR during the forecast period. A significant customer base of home security systems prefer cost-effective products with a remote monitoring facility to optimize as per their security requirements. In the DiY product category, users can save a large amount of money spent on consulting and installation services. Some of such security systems can be customized and upgraded with additional features by customers as and when they require. Thus, with DIY option suitable for many customers, its adoption is expected to drive the growth of home security systems market.
Video Surveillance Systems to hold the largest share of the market by systems in 2022
The video surveillance systems segment is expected to hold the largest share of the home security systems market by systems in 2022. One of the major benefits of the video surveillance system is that it offers security, monitoring, and analysis of suspicious movements of persons over a perimeter. Hardware products—such as cameras, monitors, servers, storage units, and other accessories—form a major part of the video surveillance systems. The hardware products that are currently available in the market are cost effective and technologically advanced. High-definition (HD) cameras, panoramic cameras, and body-worn or spy cameras are among the most recent and attractive trends in the video surveillance market.
Home security systems market in APAC to grow at the highest rate during the forecast period
The home security systems market in APAC is expected to witness significant growth rate during the forecast owing to increasing crime rate and rapid urbanization in the countries such as China, and India. In Japan, growing emphasis by government on fire safety measures is likely to create growth opportunities for the market, while increasing R&D for innovative security products to drive the market in South Korea. The associations and organizations, such as the Asian Professional Security Association (APSA), take initiatives to tap potential opportunities effectively. Among the different products utilized for security, intelligent video surveillance, and electronic access control systems are observed to have the highest demand in this region.
A few of the key players in the Home Security Systems Market are ADT LLC. (ADT) (US), Resideo Technologies, Inc. (US), Johnson Controls International plc. (Johnson Controls) (US) HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO. LTD. (HANGZHOU HIKVISION DIGITAL TECHNOLOGY) (China), and ASSA ABLOY AB (ASSA ABLOY) (Sweden).
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