Home Security Solutions Market by Solutions (Intruder Alarm, Intercom, Access Control, Video Surveillance ) worth $47,542.52 Million by 2020
The global home security solutions market size is estimated to grow from USD 31.36 Billion in 2015 to USD 47.54 Billion by 2020, at an estimated CAGR of 8.68% by 2020
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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.).
Home or residential security is among the major concerns in the present market scenario. The key reasons behind this are the alarming crime rates on the 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 the installation of security solutions, and growing number of smartphone and tablet users.