DUBLIN, February 16, 2022--(BUSINESS WIRE)--The "Global Home Security Systems Market (2021-2026) by System Type, Service Type, Security Type, Home Type, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added toResearchAndMarkets.com's offering.
The Global Home Security Systems Market is estimated to be USD 55.8 Bn in 2021 and is expected to reach USD 82.37 Bn by 2026, growing at a CAGR of 8.10%.
Market Dynamics
The Global Home Security Systems Market is driving due to growing Awareness related to home security systems. Emerging Internet of Things (IoT) and wireless technologies for home security systems drive market growth. Also, the increasing adoption of IP cameras for video surveillance purposes is fuelling the market's growth. Apart from this, home security systems' high cost associated with installation, maintenance, and operational cost hinders the growth.
Furthermore, the deployment of deep learning and artificial intelligence (AI) and growing smart cities initiatives worldwide will create opportunities for the market to grow. Moreover, issues related to confidential information privacy and system complexities are the challenges that may affect the market growth.
Recent Developments
1. Hangzhou Hikvision Digital Technology Co Ltd partners with Gurtam to create a comprehensive telematics solution by integrating its mobile products with Gurtam's GPS tracking platform- October 19, 2021
2. Allegion plc acquired certain assets of Astrum Benelux B.V that allow users to schedule and deploy employees to the right place and right time - July 29, 2021
Company Profiles
Countries Studied
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc
Report Highlights:
Market Influencers
Drivers
Restraints
Opportunities
Challenges
Market Segmentation
The Global Home Security Systems Market is segmented further based on System Type, Service Type, Security Type, Home Type, and Geography.
By System Type, the market is classified into Fire Protection Systems, Video Surveillance Systems, Access Control Systems, Entrance Control Systems, and Intruder Alarm Systems.
By Service Type, the Home Security Systems market is classified into Security System Integration Services, Remote Monitoring Services, Fire Protection Services, Video Surveillance Services, and Access Control Services.
By Security Type, the Home Security Systems market is classified into Professionally-Installed and Monitored, Self-Installed and Professionally Monitored, and Do-It-Yourself (DIY).
By Home Type, the Home Security Systems market is classified into Condominiums/Apartments and Bungalow.
By Geography, North America is projected to lead the market.
For more information about this report visit https://www.researchandmarkets.com/r/thbfwm
View source version on businesswire.com: https://www.businesswire.com/news/home/20220216005676/en/
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