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Home Security Solutions Market by Product (Electronic locks, Sensors, Cameras) worth $47,542.52 Million by 2020

According to a new market research report “Home Security Solutions Market by Product (Electronic locks, Sensors, Cameras), Solutions (Intruder Alarm, Intercom, Access Control, Fire Protection, Integrated Security, Video Surveillance & Others), Home Type, & Geography - Global Forecast to 2020”, the total market is expected to reach $47,542.52 Million by 2020, at a CAGR of 8.7%.

Browse 78 market data tables and 76 figures spread through 173 pages and in-depth TOC on “Home Security Solutions Market - Global Forecast to 2020"

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The concept of home security solutions emerged in the early 1990s wherein the solution was predominantly similar to car alarms. They were expensive and unreliable and the rate of false alarms was also very high. However, with progress in the technology, home security solutions also advanced gradually. A wide variety of features, such as night-vision, cameras, electronic and smart locks, motion-sensitivity, wireless devices, Internet connectivity, and more, became commonly available for utilization by homeowners. Such enhanced security features, in turn, increased the interest in security solutions, subsequently increasing the demand.

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Security is the major concern for industry verticals such as commercial areas, residential areas, and public places. The major reasons behind this are the alarming crime rates on global basis and unethical practices. With regards to this, electronic security equipment is expected to find potential opportunities in this market. The entry level of security solutions in the residential sector has been witnessing a rapid growth since the last few years. There are several factors that can be attributed to this growth, such as increase in home burglary rates, attractive insurance policies to residents for installation of security solutions, and growing number of smart phone and tablet users.

The home security solutions market has been gaining momentum since the past few years. This is mainly attributed to the rise in crime rates and technological advancements in various sectors such as sensors, biometrics, surveillance systems, communication technologies, and more. This market is also observed to provide potential growth opportunities to telecom providers and electrical distributors. However, the high cost of solution and lack of awareness confines the market growth. Home security solution providers also need to work on the adoption of innovative approaches in order to acquire new customers and retain the existing ones.

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The competitive landscape of the market presents valuable insights about players in the home security solutions market. The global home security solutions market report profiles 11 promising players in the market and further explains their business overview, product portfolio, recent developments, and key strategy adopted. The market is witnessing new product developments and mergers & acquisitions across the value chain between the companies.

The major players in the global home security solutions market are Tyco (Ireland), ASSA ABLOY (Sweden), UTC Fire & Security (U.S.), Honeywell International, Inc. (U.S.), Bosch Security Systems (Germany), Ingersoll Rand Solutions (Ireland), Allegion PLC (Ireland), Godrej & Boyce Manufacturing Company Limited (India), Control4 Corporation (U.S.), Alarm.com (U.S.), and Nortek Security & Control LLC (U.S.).

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