Home security system market – 34% of growth originates from North America | Driven by the growth of home security systems

New YorkAnd the May 3, 2022 /PRNewswire/ – Home security systems market size is expected to grow by US$21.53 billion From 2021 to 2026 b 7.8% compound annual growth rate According to the latest market research report from Technavio. 34% of the market growth will come from North Amarica during the forecast period. The United States and Canada are the main markets for home security systems in North Amarica. The growth of the market in this region will be faster than the growth of the market in South america. The significant increase in the adoption of smart homes due to rapid urbanization and the emergence of the Internet of Things in the home security system will facilitate the growth of the home security system market in North Amarica During the forecast period

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Read the 120-page report with TOC on “Home Security System Market Analysis Report by Product (Video Surveillance System, Alarm System, Access Control System) and Geography (North AmaricaAnd the Europeasia pacific, The Middle East And the AfricaAnd the South america), and Sector Outlook, 2022-2026″. Gain competitive insight into market leaders. Track key industry opportunities, trends, and threats. Information on marketing, branding, strategy, market development, sales, and sourcing functions. https://www.technavio.com/report/report/home-security-system-market-industry-analysis

Home Security System Market – Drivers and Challenges

The main factors driving the global Home Security System industry are The growth of DIY home security systems due to their low cost and ease of installation and operation using a smartphone. The Americas is one of the largest DIYers of home security, with the United States in the lead. Factors such as the lower cost of these systems compared to professional security systems will drive the growth of the market in the forecast years. For example, cameras for DIY systems are cheaper compared to cameras offered as part of a professional package. Additionally, the flexibility associated with DIY security systems will help providers of non-traditional security equipment increase the overall penetration rate of homes that have alarm systems.

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However, the main challenge for the growth of the global home security system industry is Increased incidence of false alarms due to failure to appropriate assessment. Because of these alarms, the operator may not respond to real alarm conditions. False alarms are usually caused by simple errors in the application software, especially when the sensor is unable to read the object approaching the limit. This not only leads to customer dissatisfaction but may also lead to misuse and loss of sensitive customer information and other fraudulent activities. This may challenge the market growth in focus during the forecast years.

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Some of the major home security system triggers:

Home security system market is fragmented And sellers deploy growth strategies like Product innovation to compete in the market.

• ABB Ltd.

• ADT Inc.

• ASSA ABLOY AB

• Bay Alarm Company

• Frontpoint Security Solutions LLC

• Godrej and Boyce Manufacturing Co. Ltd.

• Hangzhou Hikvision Digital Technology Co., Ltd. Ltd.

• Honeywell International Corporation

• Johnson Controls International PLC

• interactive link

• Monitronics International Inc.

• nice spa

• Nortek Security and Control LLC

• Panasonic Corporation

• Robert Bosch GmbH

• Schneider Electric SE

• Scout Security Ltd

• SimpliSafe Company

• Stanley Black and Decker Corporation.

• Vivint Smart Home Inc.

• Zhejiang Dahua Technology Co., Ltd. Ltd.

• Snap One LLC

Home Security System Market: Segmentation Analysis

Product forecast (revenue, billion USD, 2021-2026)

• Video Surveillance System – Size and Outlook 2021-2026

• Alert System – Size and Forecast 2021-2026

• Access Control System – Size and Outlook 2021-2026

Geography Outlook (Revenue, billion USD, 2021-2026)

• North Amarica – Size and Outlook 2021-2026

• Europe – Size and Outlook 2021-2026

• APAC – Size and Outlook 2021-2026

• The Middle East And the Africa – Size and Outlook 2021-2026

• South america – Size and Outlook 2021-2026

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Related reports:

• The smart home safety market The stock is expected to rise by $14.10 billion from 2021 to 2026, and the market growth momentum will accelerate at a compound annual growth rate of 16.48%. Download a sample now!

• The Identity Verification Market The stock is expected to rise by $10.23 billion from 2021 to 2026, at a compound annual growth rate of 16.86%. Download a sample now!

content list

1. Executive Summary

2 market view

3 market sizing

4 Five forces analysis

5 Market Segmentation by Product

6 customer perspective

7 Geographical scene

8 Drivers, Challenges and Trends

9 landscape seller

10 Vendor Analysis

Appendix 11

About Technavio
Technavio is a global leader in technology research and consulting. Their research and analysis focus on emerging market trends and provide actionable insights to help companies identify market opportunities and develop effective strategies to improve their market positions.

With over 500 dedicated analysts, Technavio’s reporting library consists of more than 17,000 reports and statistics, covering 800 technologies, spanning across 50 countries. Their client base consists of organizations of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in current and potential markets and to assess their competitive positions within changing market scenarios. .

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