As per this study the Global Residential Security Market was valued USD 65.6 MN (by revenue) in 2021 and is anticipated to reach USD 126.22 MN by 2028 with a CAGR of 9.8%.
Residential security refers to electrical devices, used to impart safety and security to residential buildings and individuals from thieves. It majorly includes indoor and outdoors security system such as alarm system, motion detectors, CCTV, smart locks, doors, intercom system, etc.
Market Dynamics
Growing cases of burglary, crime rate coupled with rising preference for mobile monitoring security system is driving the market growth. Rising adoption of smart home and Internal of things (IoT) for home security solution is further fueling the market growth. The rise in disposable income along with risen demand for the improved security solution to impart better safety and security, especially for residential buildings, is further boosting the market demand. Growing consumer awareness regarding benefits of advanced security is presumed to foster the market demand in the forecasting period. However, high installation cost may hamper the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of residential security.
Market Segmentation
The broad residential security market has been sub-grouped into product, solution and residential type. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Product
- Smart Locks
- Security Camera
- Security Alarms
- Sensors
- Fire Sprinklers And Extinguishers
By Solution
- Access Control And Management
- Home Integrated Security
- Alert System
- Intercom System
- Audio-Video Surveillance System
- Fire Protection
By Residential Type
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for residential security in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Residential Security Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the residential security market includes ADT LLC dba ADT Security Services, Allegion Plc., Bosch Security Systems GmbH, CONTROL4® CORPORATION, Frontpoint Security Solutions, Godrej & Boyce Mfg. Co. Ltd., Honeywell International Inc., Ingersoll-Rand Plc., Nortek Security and Control and United Technologies. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.