Market Highlights
A typical home security system consists of interior and exterior motion sensors, wired or wireless
security cameras, high decibel alarm systems, and control panel. Globally, the home security
systems market is expected to grow from USD 33.47 billion in 2017 to USD 55 billion by 2023, at a
CAGR of 9% during the forecast period. Advancement in remote monitoring and smartphone
technology and increasing demand for smart homes are a few factors that are expected to drive the
home security system market during the forecast period. However, lack of awareness about the
benefits of security systems and high initial installation cost are expected to limit the growth of the
home security market during the forecast period.
Home security systems work on the principle of securing entry points such as doors & windows and
interior space containing various valuables and essentials. A typical home security system includes
interior & exterior motion sensors, control panel, wired or wireless security cameras, and high
decibel sirens or an alarm. The control panel communicates with each component of the security
system. Doors & windows sensors consist of two parts that are installed adjacent to each other. One
component is installed on the window or a door and the other part is placed on the door frame.
When a door is closed, both components of the sensor gets connected, completing the circuit.
Motion sensor components protect the space by making an invisible zone which cannot be
breached without triggering an alarm. Wired & wireless surveillance cameras are used in remote
areas such as garages, sheds & workshops, and interior & exterior entry points.
Major Key players
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United Technologies Corporation Nortek Security & Control LLC,
Vivint Inc.
Control4 Corporation
Honeywell International Inc.
Tyco International Ltd.
ADT Corporation
Robert Bosch GmbH
Godrej & Boyce Manufacturing Company Limited
Assa Abloy AB
Allegion PLC
Axis Communications AB
SimpliSafe Inc.
HikVision Digital Technology Co., Ltd.
Segmentation:
The global home security system market is segmented into product, type, end-users, and regions.
By product, the market is segmented into cameras, sensors, fire sprinklers & extinguishers, alarms,
panic buttons, biometrics, RFID, smart cards, and electronic locks.
By type, the market is segmented into intruder alarm solution, integrated security solution, video
surveillance solution, medical alert system, intercom system, fire protection system, and access
control & management solution.