The report of Global Residential Security Market by Product (Smart Locks, Security Camera, Security Alarms, Sensors, Fire Sprinklers And Extinguishers), Solution (Access Control And Management, Home Integrated Security, Alert System, Intercom System, Audio-Video Surveillance System And Fire Protection), Residential Type (Independent And Apartment) and Region (North America, Asia Pacific, Europe, South America, Middle East & Africa) is expected to reach US$ XX Bn by 2026, at a CAGR of 9.2% during a forecast period.
The progress of DIY solutions and the substantial growth of distribution channels is expected to promote the growth of the global market for residential security in the impending years. The price sensitivity related to residential security products has decreased significantly, because of better awareness of security threats in the urban areas as well. The market for residential security market is expected to see considerable expansion owing to an escalation in the crime rates around the world. Additionally, the prospects made available by the approval of IoT and sensor technology are likely to reinforce the residential security market in the approaching period.
Home Integrated Security segment is expected to grow at the highest XX% CAGR during the forecast period.
The home integrated security segment is expected to witness the fastest growth in the residential security market during the forecast period. This can be attributed to the features like real-time monitoring, improved security, and centralized control offered by this type of security systems. With the aid of integrated security systems, owners can monitor and manage all their security devices from one place.
North America is expected to witness the fastest growth during the forecast period.
North America has been the largest market for home security, whereas the APAC is expected to witness the fastest growth among all regions, during the forecast period. The expected growth in the market can be attributed to growing digitalization, advancement in new technologies, growth in the security equipment industry, and rising adoption of connected technologies such as the Internet of Things (IoT) by home security providers in the region. Further, because of rapid technological advancements in the automation of security in building infrastructure, also with various government initiatives, for instance, the development of smart city projects, the region has higher propensity to adopt home security solutions at a rapid scale in near future.
Key players operating in the Global Residential Security Market are ADT LLC dba ADT Security Services, Allegion Plc., Bosch Security Systems GmbH, CONTROL4 CORPORATION, Frontpoint Security Solution, Godrej & Boyce Mfg. Co. Ltd., Honeywell International Inc., Ingersoll-Rand Plc., Nortek Security and Control, United Technologies, Tyco International Ltd., ASSA Abloy AB, UTC Fire & Security
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Residential Security Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Residential Security Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Residential Security Market positioning of competitors.
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