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Global Residential Security Market to Reach $60,76
According to a new market research report “Global Residential Security Market Size, Share, Development,
Product (Security Cameras, Smart Locks, Sensors, Security Alarms, and Fire Sprinklers & Extinguish
Management, Home Integrated Security, Alert System, Intercom System, and Fire Protection), by Resid
Market Research, the global residential security market is projected to reach $60,765.2 million by 2023, growin
Browse Report Description: https://www.psmarketresearch.com/market-analysis/residential-security-mar
Global Residential Security market to reach $60,765.2 million by 2023
The study reveals that the global residential security market is estimated to reach $60,765.2 million by 2023
Internet of Things (IoT), adoption of cloud based security technologies and rapid increase in demand for advance
global residential security market is gaining traction.
Insights on market segments
As per the findings of the research, security cameras have been the largest market among residential security pr
its highest revenue contribution during the forecast period. Security cameras are one of the fundamental device
immune their abode against security threats. Among various solutions, audio visual surveillance segment witnesse
integrated security segment is expected to lead the market with highest growth rate, during the forecast period.
The market to witness fastest growth in Asia-Pacific during the forecast period
Geographically, North America has been the largest market for residential security, whereas Asia-Pacific is exp
forecast period. The anticipated growth in market can be attributed to increasing digitalization, advancement in new
adoption of connected technologies such as Internet of Things (IoT) by residential security providers in the region
of security in building infrastructure, in addition with various government initiatives such as development of smart
security solutions at a rapid scale in near future.
Security camera: the largest residential security product market
Security camera segment has been the largest contributor to the global residential security market. Security cam
through high quality audio/visual vigilance. Factors such as motion detection, night vision, and wi-fi capabilities ar
residential security globally. Security cameras with motion detection can send its user with alerts and notificatio
addition, security cameras with night vision can allow recording images and videos in low light situations and s
criminal offence taking place at night.
Increase in demand for advanced security solutions escalates the global market growth
Factors driving the global residential security market include significant growth in IoT and sensor technology,
increasing need for advanced residential protection plans and security solutions, and amplified adoption of sma
place can be accessed through security devices over smartphones or tablets. In addition, smart intercom and a
independent as well as residential communities and societies. Such systems also provide services like notificatio
activity is detected.
Apart from this, having residential security in place is becoming more of a status symbol and is gaining hype glob
such as fire sprinklers & extinguishers, security cameras, biometric locks attracts more number of people to reside
Though fire sprinklers and extinguishers have been used for residential security for long, with advancement in te
gaining more popularity. Residential complexes particularly in areas that are prone to fire, such as the ones close
demand for automatic activation fire sprinklers.
High competition among key players in the global residential security market
The research states that the global residential security market is highly competitive, with players developing
Some of the key players in the residential security ecosystem are Bosch Security Systems Inc, Honeywell Security
United Technologies Corporation, Ingersoll Rand, Control4 Corporation, and Godrej & Boyce Mfg. Co. Ltd.
Most of the vendors operating in the global residential security market are actively focusing on enhancing their offe
solutions, including wireless security solutions and smart locks.
GLOBAL RESIDENTIAL SECURITY MARKET SEGMENTATION
Electronic Door Locks
Fire Sprinklers & Extinguishers
Access Control & Management
Home Integrated Security
By Residential Type
Rest of North America
Rest of Europe
Rest of Latin America
Rest of Asia-Pacific
Middle-East & Africa (MEA)
Rest of MEA