Global Home Security System Market 2018-2023: Opportunities in Integration of AI and Deep Learning in Home Security Systems
DUBLIN, Sept. 4, 2018 /PRNewswire/ --
The "Home Security System Market by Home Type, System Type, Offering, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The home security system market is expected to reach USD 74.75 billion by 2023 from USD 45.58 billion in 2018, at a CAGR of 10.40% during the forecast period.
The growth of the home security system market can be attributed to the emergence of IoT and wireless technologies, and increasing customer awareness .
Video surveillance security systems are likely to hold the largest share of the home security product market by 2018. Among all products, a video surveillance system records all the activities in the vicinity; hence, a user can keep a watch on any untoward activity and alert the police regarding the same; a recorded video footage also serves as evidence in the post-crime investigations. One of the main benefits of the video surveillance system is that it ensures full-time monitoring in both the densely populated areas as well as in remote areas. The surveillance cameras available on the market use AI and deep learning to empower the security with more reliability and accuracy. For instance, Hangzhou Hikvision Digital Technology (China) launched DeepinView Camera Series with the deep learning feature to provide accurate and consistent video content analytics (VCA) performance.
The market in APAC is expected to grow at the highest CAGR during 2018-2023. APAC is a technologically and economically developing region, and countries such as China, Japan, and South Korea are driving the overall growth of the home security system market in this region. The technological and economic advancements in the region are expected to drive the overall demand for security systems. In this region, many governments have set the safety norms for various sectors. For instance, the fire hazard is a major concern in this region, and the rapid development of the construction and real estate sector is expected to drive the residential fire protection system market in the coming years.
Services are likely to hold the largest share of the home security system market by 2018. The installed security products should be backed with proper services, such as maintenance and integration, for the smooth and continuous working of these products. Security systems are useful only when they are properly engineered, designed, installed, serviced, and maintained; hence, the services segment is estimated to hold a larger size of the market during the forecast period.
Home Security System Market
The high cost associated with the installation and maintenance of home security systems is the key factor limiting the growth of this market. Customers are increasingly becoming aware about the benefits of home security systems; at the same time, they are skeptical of investing in it since the prices of security systems are still not affordable for many consumers. Expensive hardware and the high cost of ownership hinder the adoption of home security systems.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Home Security System Market Opportunities
4.2 Home Security Product Market, By Type
4.3 Home Security Product Market in APAC, By Type & Country
4.4 Country-Wise Snapshot of Home Security System Market
4.5 Home Security System Market in APAC, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Emergence of IoT and Wireless Technologies
5.2.1.2 Increasing Customer Awareness
5.2.2 Restraints
5.2.2.1 High Installation, Operational, and Maintenance Costs
5.2.3 Opportunities
5.2.3.1 Integration of AI and Deep Learning in Home Security Systems
5.2.3.2 Worldwide Proliferation of Smart City Initiatives
5.2.4 Challenges
5.2.4.1 Increasing System Complexity
5.2.4.2 Maintaining Secrecy of Highly Confidential Information
5.3 Value Chain Analysis
6 Home Security System Market, By Home Type
6.1 Introduction
6.2 Independent Homes
6.3 Condominiums/Apartments
7 Home Security System Market, By System Type
7.1 Introduction
7.2 Professionally Installed & Monitored Systems
7.3 Self-Installed & Professionally Monitored
7.4 Do-It-Yourself (DIY) Systems
8 Home Security System Market, By Offering
8.1 Introduction
8.2 Products
8.2.1 Fire Protection Systems
8.2.1.1 Hardware
8.2.1.1.1 Fire Sprinklers
8.2.1.1.2 Fire Extinguishers
8.2.1.1.3 Secure Communication Products
8.2.1.1.4 Sensors & Detectors
8.2.1.1.5 Radio Frequency Identification (RFID)
8.2.1.1.6 Fire Alarm Devices
8.2.1.1.7 Emergency Lighting
8.2.1.1.8 Voice Evacuation & Public Alerts
8.2.1.1.9 Others
8.2.1.2 Software
8.2.1.2.1 Fire Mapping & Analysis Software
8.2.1.2.2 Fire Modeling & Simulation Software
8.2.2 Video Surveillance Systems
8.2.2.1 Hardware
8.2.2.1.1 Camera
8.2.2.1.2 Monitor
8.2.2.1.3 Server
8.2.2.1.4 Storage
8.2.2.1.5 Others
8.2.2.2 Software
8.2.2.2.1 Video Analytics Software
8.2.2.2.2 Video Management System (VMS)
8.2.2.2.3 Neural Networks and Algorithms
8.2.3 Access Control Systems
8.2.3.1 Hardware
8.2.3.1.1 Controllers/Servers
8.2.3.1.2 Cards & Readers
8.2.3.1.3 Biometric Readers
8.2.3.1.4 Electronics Locks
8.2.3.1.5 Multi-Technology Readers
8.2.3.2 Software
8.2.4 Entrance Control Systems
8.2.5 Intruder Alarms
8.3 Services
8.3.1 Security System Integration Services
8.3.2 Remote Monitoring Services
8.3.3 Fire Protection Services
8.3.3.1 Engineering Services
8.3.3.2 Installation & Design
8.3.3.3 Maintenance Services
8.3.3.4 Managed Services
8.3.3.5 Others
8.3.4 Video Surveillance Services
8.3.4.1 Installation & Maintenance
8.3.4.2 Video Surveillance as A Service
8.3.5 Access Control Services
8.3.5.1 Installation & Integration
8.3.5.2 Maintenance Services
8.3.5.3 Access Control-As-A-Service
9 Geographic Analysis
9.1 Introduction
9.2 Americas
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.2.4 Brazil
9.2.5 Rest of Americas
9.3 Europe
9.3.1 Germany
9.3.2 France
9.3.3 UK
9.3.4 Rest of Europe
9.4 Asia Pacific (APAC)
9.4.1 China
9.4.2 Japan
9.4.3 South Korea
9.4.4 India
9.4.5 Rest of APAC
9.5 RoW
9.5.1 Middle East
9.5.2 Africa
10 Competitive Landscape
10.1 Overview
10.2 Ranking Analysis
10.3 Competitive Scenario
10.3.1 Product Launches & Developments
10.3.2 Partnerships, Agreements, & Collaborations
10.3.3 Acquisitions
10.3.4 Expansions
11 Company Profiles
11.1 Key Companies
11.1.1 ADT
11.1.2 Honeywell
11.1.3 Johnson Controls
11.1.4 Hangzhou Hikvision Digital Technology
11.1.5 Assa Abloy
11.1.6 Secom
11.1.7 Robert Bosch
11.1.8 United Technologies
11.1.9 Godrej & Boyce
11.1.10 Alarm.Com
11.1.11 Allegion
11.1.12 Control4
11.1.13 Schneider Electric
11.1.14 Legrand
11.1.15 ABB
11.1.16 Comcast
11.1.17 Stanley Convergent Security Solutions
11.1.18 Nortek Security & Control
11.1.19 Front Point
11.1.20 Vivint
11.2 Other Key Companies
11.2.1 Simplisafe
11.2.2 Armorax
11.2.3 Nest Secure
11.2.4 Notion
11.2.5 Canary
11.2.6 Scout
11.2.7 Cacoon
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