The global intelligent home security market was valued at US$3.566 billion in 2017 and is projected to expand at a CAGR of 25.75% over the forecast period to reach US$14.100 billion by 2023. Home security has undergone tremendous transformation. Traditional security systems are now being replaced by advanced security solutions which provide real-time updates as well as raise an alarm automatically in case of any security breach. Rising crime rates, internet penetration, and new internet of things (IoT) solutions are some of the factors contributing to the growth of the market. Lack of awareness and high cost of solutions are some of the major challenges being faced by the industry. However, government and the other stakeholders are taking initiatives to create awareness and also to achieve a better coordination with solution providers. Asia Pacific region is expected to witness fastest growth owing to rising disposable income, fast economic growth of key economies, rapid urbanization and booming construction industry.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the intelligent home security value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the global intelligent home security market.
Major industry players profiled as part of the report are Honeywell International Inc., ASSA ALBOY, and Bosch Sicherheitssysteme GmbH among others.
The global intelligent home security market has been analyzed through following segments:
Middle East and Africa