Global Home Security Solutions Market Expected to Rise

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New York, USA, Sept. 26, 2022 (GLOBE NEWSWIRE) — According to a report by Research Dive, the global home security solutions market should generate an income of 1 $21,421.70 million and grow healthy CAGR of 10.56% during the estimated period from 2022 to 2030.

According to our analysts, with the growing need to avert burglaries, crime rates and home invasions among people in both developed and developing regions, the market for home security solutions is expected to grow exponentially over the period. analysis. Moreover, increasing technological improvements and increasing consumer spending on home security are expected to create huge growth opportunities over the estimated time frame. However, the high cost of installing and monitoring home security solutions may hamper the market growth throughout the forecast period.

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Segments of the home security solutions market

The report has divided the home security solutions market into different segments on the basis of type, solutions, installation, end use and region.

Type: most productive service sub-segment

The services sub-segment is expected to generate revenue of $42,619.10 million over the estimated period. This is mainly due to the growing demand for services including assessment and analysis, consulting and integration, maintenance and support, and many more among individuals across the globe. Additionally, the growing preference for professionally monitored services among users owing to the ease of control and improved efficiency of integrated systems is expected to amplify the growth of the market sub-segment over the estimated timeframe.

Solutions: Access control system sub-segment will be the most profitable

The access control system sub-segment is expected to generate revenue of $25,826.60 million during the analysis period. Growing adaptation of technologies by key market players to meet consumer expectations and provide security and resilience against burglary, theft and many more is expected to drive the growth of the market sub-segment during the forecast period.

Installation: Do-it-yourself (DIY) sub-segment will be the most advantageous

The do-it-yourself (DIY) sub-segment is expected to generate $32,273.50 million over the estimated period. The growing process and high installation fees of professional installation of home security solutions are expected to drive the growth of the market sub-segment over the analysis period.

End-Use: Independent Homes sub-segment will be the most lucrative

The independent homes sub-segment is expected to bring in $67,514.20 million during the forecast period. The increasing installation of the security system for primary residences, as well as new construction and restored and conventional houses in the developed and developing regions are expected to augment the growth of the market sub-segment over the estimated timeframe.

Region: North America region will hold the largest market share

The North America region of the home security solutions market is expected to generate revenue of $48,374.40 million over the analysis period. This is mainly due to the skyrocketing technological advancement in this region. Furthermore, the strong presence of major market players in this region and increasing adoption of do-it-yourself installation type solutions are expected to drive the regional growth of the market over the forecast period.

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Impact of Covid-19 on the home security solutions market

Although the outbreak of the Covid-19 pandemic has devastated several other industries, it has had a positive impact on the home security solutions market. Due to lockdowns and strict government imposed regulations in many countries, people have been forced to spend more time indoors, prompting customers to reinvest in their homes. Consumers have started looking for a better way to protect themselves and their loved ones. This has increased the demand for end-to-end smart home services and reliable home security solutions during the pandemic period. All these factors have tilted the growth of the market over the crisis period.

Check out the Latest Update (Pre-Recent-Post COVID-19) of the Home Security Solutions Market. Ask an analyst or schedule a call

Home security solutions market key players

Major players in the home security solutions market include

  1. ADT LLC DBA ADT SECURITY SERVICES
  2. Bosch GmbH
  3. Vivint, Inc.
  4. ASSA ABLOY
  5. MOBOTIX
  6. Honeywell International Inc.
  7. Brinks Home Security (MONI Smart Security)
  8. Nortek Security & Control LLC
  9. Alarme.com
  10. Johnson Controls, Inc. (Tyco Security Products) and many others.

These players are extensively working on developing new business strategies such as partnerships and collaborations, mergers and acquisitions, and product development to gain a leading position in the global industry. Inquire here before purchasing the full report

For instance, in November 2021, Sunnova Energy International Inc., a leading national residential solar energy company, announced its partnership with Brinks Home™, an American company that offers home security systems. With this partnership, Sunnova aimed to offer its customers smart home security solutions from the Brinks Home portfolio and enabled Brinks Home authorized resellers and representatives to provide their customers with the suite of solar, battery and energy from Sunnova.

Besides, the report also presents other important aspects including SWOT analysis, financial performance of major players, product portfolio and latest strategic developments.

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