Global Residential Security Market (Size of USD 36.4 billion in 2017) to Witness 8.1% CAGR During 2018 – 2024

Jul, 2018

Residential security system develops secure and safe environment for the household that helps in improving the security environments for the complete area. The global residential security market is projected to become USD 63.4 billion by 2024 and is expected to witness a CAGR of 8.1% during the forecast period. It has been observed that increasing momentum of latest technologies such as IOT and excessive utilization of these systems are the major factors that are pertaining towards the growth of the global market. Furthermore, other factors that are driving the growth of market include swelling crime rates and less number of security workforces.

Market report Residential Security Market – Analysis and Forecast (2014 - 2024)

Technological advancement in fire extinguishers and sprinklers are another factor that is pertaining towards the growth of the residential security market. The growth of this market is attributed towards technological advancements that provide extensive application due to automatic sprinklers and fire extinguishers. Furthermore, it has been observed that these smart devices are helping the users in controlling and tackling fire in comparatively less time duration.

Improved security devices at affordable price ranges are developed due to technological upgradation and advancements. However, lack of accessibility and awareness regarding choosing of right solution, threat to privacy of the users and high cost of residential security solutions are the major factors hindering the growth of the residential security market.

Browse market insight and in-depth TOC on “Residential Security Market – Analysis and Forecast (2014 - 2024) - https://www.vynzresearch.com/ict-media/residential-security-market

Among all the type of products, security cameras has been estimated result in the largest revenue throughout the estimated period and is further expected to witness a CAGR of 9.1% during the forecast period. The growth of this segment is attributed towards the benefits availed to the users such as motion detectors that provide notifications and alerts to its users wherever a suspicious event is witnessed by it. Of all the solutions offered by key players in the market, audio-visual surveillance solution held the largest share of around 23% in 2017 in the residential security market, globally.

Geographically, Asia-Pacific is expected to witness fastest growth of 11.0% during the forecast period in the residential security market, globally. The rapid growth of this market is accredited towards technological advancements, extensive adoption for connected technologies such as IOT, enhanced digitalization and increasing security material industries. Moreover, it has been observed that North America is expected to contribute largest revenue of USD 25.1 billion by 2024.

Globally industry players are leveraging market growth through consistently advancing their offerings in accordance to the rapidly changing needs and demands of the customers. Some of the key players operating in the global residential security industry include Bosch Security Systems Inc, Honeywell Security Group, Alarm.Com, Allegion PLC, Nortek Security & Control LLC, United Technologies Corporation, Ingersoll Rand, Control4 Corporation, and Godrej & Boyce Mfg. Co. Ltd.

Global Residential Security Market Coverage

Product Insight and Forecast 2014 - 2024

  • Smart Locks
    • Electronic Door Locks
    • Biometric Locks
    • Keypad Locks
    • Wireless Locks
  • Fire Sprinklers & Extinguishers
  • Security Cameras
  • Sensors
  • Security Alarms

Solution Insight and Forecast 2014 - 2024

  • Home Integrated Security
  • Intercom System
  • Audio-Visual Surveillance
  • Access Control & Management
  • Fire Protection
  • Alert System

Residential Type Insight and Forecast 2014 - 2024

  • Independent
  • Apartment

Geographical Segmentation

Residential Security Market by Region

North America

  • U.S.
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • Canada
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • Mexico
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast

Europe

  • Germany
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • U.K.
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • France
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • Russia
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • Rest of Europe
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast

Asia-Pacific

  • Japan
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • China
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • India
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • South Korea
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • Rest of Asia-Pacific
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast

Rest of the World (RoW)

  • Brazil
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • U.A.E
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • Argentina
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast
  • Others
    • Product insight and forecast
    • Solution insight and forecast
    • Residential type insight and forecast

 

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Global Residential Security Market (Size of USD 36.4 billion in 2017) to Witness 8.1% CAGR During 2018 – 2024