Home security solutions are emerging as a huge market worldwide; the factors maybe the rising crime rates related to home security in different parts of the world, attractive insurance policies to residents for installation of security solutions, growth in iPads and tablets markets, and more. Therefore, the electronic security equipments are the potential opportunities in this market. Security solutions in residential as well as business sector are witnessing a rapid growth since the last few years.
Home security systems provide home and business security solutions like home and business burglar alarms, Fire/smoke detection, Carbon monoxide detection, Remote video surveillance, 24-hour, company-owned, dedicated Commercial Monitoring Center, Wireless primary and backup monitoring communicator, Web- and text-enabled system access, control and notifications, and other Customized Security Solutions. The key factors driving the home security solutions market may include the growing demand for home monitoring, attractive policies, growth of smart phones and tablets, and an ever-increasing demand for home monitoring.
Source: http://www.omegasecurity.com/
According to a new market research report on Home Security Solutions Market published by MarketsandMarkets, which is a global market research and consulting company based in the U.S., the home security solutions market, is expected to reach $34.46 billion by 2017 at a CAGR of 9.1% from 2012 to 2017.
This research report categorizes the Home Security Solutions Market on the basis of different technologies used in security solutions, different end-products used for security purpose, different security systems used for security purpose, use of these in different types of homes and geographical analysis; forecasting revenue and analyzing trends in the market. In the report the residential security solutions market is observed to have gained momentum in the recent past. This is mainly attributed to the rapid rise in crime rates and the technological advancements. Electronic security systems are installed in houses for several purposes such as intrusion detection, assurance of their safety, and more. In addition, the growing awareness about energy conservation and need for medical access control, detection of hazardous conditions such as fire and gas leaks also motivates people to install energy management systems and medical alert systems with the other security solutions.
Amongst the various home security end-products such as electronic locks, sensors, alarms, cameras and panic buttons, cameras were the most potential product market with a share of approximately 26.69% as of 2011 followed by electronic locks and sensors with market shares of 26.32% and 24.49% respectively. Alarm systems held the highest share, i.e. 35% in the overall home security solutions market as of 2011 followed by intercom systems with a market share of 26%. On the other hand, energy management systems and integrated security systems are expected to provide potential growth opportunities for home security solution providers and hence are estimated to grow at a CAGR of 30.7% and 25.4% respectively from 2012 to 2017. The global home security solutions market is expected to grow from $20.64 billion in 2011 to $34.46 billion in 2017 at a CAGR of 9.1% from 2012 to 2017. Asia-Pacific region is expected to grow at the highest rate. This is mainly due to the growing realization of security threats to individuals and the boom in construction industry in this region. The report can be referred here:
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