Residential Security Market Overview :
Global Residential Security Market is estimated to reach $77.94 billion by 2025; growing at a CAGR of 8.8% from 2017 to 2025. Residential security means safety and security of residential houses and individuals. It is an electronic system that mainly takes care of the complete security of residence, particularly when absence from house. It is intended to provide guidance in taking precautions to reduce the risk of burglary and minimize the opportunity for crime around the home. Many of the benefits for residential security are crime deterrence, allows remote access to your home, lowers homeowner’s insurance, notifies you of fire or gas problems, helps keep tabs on kids and maintain records. Moreover, it has a wide range of protective services for a variety of public figures, including corporate CEOs and executives, celebrities and athletes, politicians and government officials, foreign dignitaries and prominent families and high net-worth individuals. Development of new technologies such as Internet of Things (IoT), along with the numerous advanced residential security equipment are making more significant growth to the residential security market.
The factors boosting the growth of the residential security market are increase in home burglary rates, rapid growth in IoT, and attractive insurance policies to residents for installation of security system. Additionally, rapid advancements of technologies have led to improvement of better and smarter security solutions supporting the market growth. However, high installment cost of security solutions and lack of awareness about technological advances are some of the restraint that would hamper the market growth. Though, growing crime rate, increasing use of remote monitoring by tablets and smartphones, and application of automating technologies such as IoT are expected to equally influence the overall growth of market during the forecast period.
The global residential security market is segmented on the basis of product, solution, residential type, and geography. Product segment is classified into smart locks, security cameras, security alarms, sensors, and fire sprinklers & extinguishers. Moreover, solution segment is bifurcated into access control & management, home integrated security, alert system, intercom system, audio-visual surveillance, and fire protection. Residential type is categorized into independent and apartment.
Based on geography, global residential security market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S. and Canada whereas Europe segment consist of UK, Russia, Germany, France, Italy, Spain, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, Australia, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key market players include Honeywell International Inc., Bosch Security Systems GmbH, Nortek Security and Control, Allegion Plc, United Technologies, Ingersoll-Rand plc, CONTROL4® CORPORATION, ADT LLC dba ADT Security Services, Frontpoint Security Solutions, and Godrej & Boyce Mfg. Co. Ltd., among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Residential Security Market with respect to major segments such as product, solution, residential type and geography.
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Residential Security Market has been included in the report
- Profile of the key players in the Global Residential Security Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Residential Security Market
- Smart Locks
- Security Cameras
- Security Alarms
- Fire Sprinklers & Extinguishers
- Access Control & Management
- Home Integrated Security
- Alert System
- Intercom System
- Audio-Visual Surveillance
- Fire Protection
Residential Type Segments
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East