Global Home Security Systems Market (2022 to 2027) – Implementation of AI and Deep Learning in Home Security Systems Presents Opportunities – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “home security systems market by type of home (detached houses, apartments), security (professional installation and monitoring, DIY), systems (access control systems), services (system integration services security), region (2022-2027)” report has been added to from ResearchAndMarkets.com offer.

The global home security systems market size is expected to grow from USD 56.9 billion in 2022 to USD 84.4 billion by 2027, at a CAGR of 8.2% during the forecast period.

The growth of home security systems market is driven by factors such as growing awareness of home security systems and emergence of Internet of Things (IoT) and wireless technologies.

Home security systems market for independent homes will account for the largest market share in 2027

Safety is one of the biggest concerns for independent owners. Self-catering accommodation is high in economically developed countries, such as the United States, Canada, and Germany. People who own a single-family home generally have a high family income. Independent dwellings are more frequently integrated in isolated places. So, in the event of a medical emergency or criminal activity, such as a burglary or theft, the help needed may not be available nearby. Given these factors, the adoption of home security systems by independent homeowners is increasing at a significant rate.

Professionally installed and monitored security systems to account for the largest share of the market by 2027

The large market for professionally installed and monitored security systems is primarily attributed to growing consumer concern for consistent security and real-time monitoring, along with increasing disposable income. Professionally installed and monitored systems are professionally installed and monitored without any homeowner intervention. One of the main advantages of this type of security system is that the user benefits from a set of dedicated consulting and engineering services. The systems are installed appropriately by professional installers. The third-party professionals managing this category of security systems ensure the security and hassle-free operation of the systems without the intervention of the customers.

APAC home security system market is expected to grow at a higher CAGR during the forecast period

Asia-Pacific is a developing region in terms of technology and economy. China, Japan, and South Korea with a higher rate of urbanization and a growing construction sector are driving the overall growth of the home security system market in this region. Technological advancements and economic growth in the region are factors that are expected to increase the demand for security systems. Rapid growth in the construction industry and real estate sector is expected to drive the growth of the residential fire protection systems market in the coming years.

Market dynamics

Drivers

  • Emergence of Internet of Things (IoT) and wireless technologies

  • Growing awareness of home security systems

Constraints

  • High installation, maintenance and operating costs

Opportunities

  • Implementing Artificial Intelligence (AI) and Deep Learning in Home Security Systems

  • Smart Cities Global Proliferation Initiative

Challenges

  • System complexity

  • Confidentiality of highly confidential information

Companies cited

  • ABB

  • ADT

  • Alarme.Com

  • Allegation

  • Armorax

  • Assa Abloy

  • Canary

  • Comcast

  • Hangzhou Hikvision Digital Technology

  • Johnson Controls

  • Great

  • Nortek Security and Control

  • Resideo Technologies Inc

  • Robert Bosch

  • Schneider-Electric

  • Scout

  • Secom

  • Simplesafe

  • SnapOne, LLC

  • Vivid

For more information about this report visit https://www.researchandmarkets.com/r/hdvjil

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