Home Security System Market

Market Leadership - Home Security System Market

The home security system market is expected to reach USD 74.75 billion by 2023 from USD 45.58 billion by 2018, at a CAGR of 10.40% during the forecast period. The emergence of IoT and wireless technologies, and increasing customer awareness are the major factors driving the growth of the home security system market. The integration of AI and deep learning in home security systems and the worldwide proliferation of “smart cities” initiatives are expected to offer lucrative opportunities for players in the home security system market during the forecast period.

The home security system market is highly competitive with the presence of a large number of global and regional market players. Product launches and developments are the most prominent strategies adopted by key industry players in the recent years. Moreover, partnerships, collaborations, and acquisitions are the other major growth strategies followed by the players in the market. Key players implementing these strategies are ADT (US), Honeywell (US), Johnson Controls (US), HANGZHOU HIKVISION DIGITAL TECHNOLOGY (China), ASSA ABLOY (Sweden), SECOM (Japan), Robert Bosch (Germany), United Technologies (US), Godrej & Boyce (India), Alarm.com (US), Allegion (Republic of Ireland), Control4 (US), Schneider Electric (France), Legrand (France), ABB (Switzerland), Comcast (US), STANLEY Convergent Security Solutions (US), Nortek Security & Control (US), FRONTPOINT (US), and Vivint (US).

To know about the assumptions considered for the study download the pdf brochure

Top 2 players in the home security system market:

Johnson Controls (Ireland)

Johnson Controls has been at the top position on the back of its existing market share in home security systems. It is a global fire and security solution provider. Its strong market position, coupled with the recent merger with Tyco International, provides a competitive advantage to the company in the home security industry. A well-established market with the large customer base and strong brand equity impart a significant competitive edge. Both the companies complement each other’s businesses. With leading innovations in devices, controls, sensors, data analytics, and advanced solutions, the company focuses on the opportunities in the smart building industry. For instance, in January 2017, the company launched “verasys control system,” which can be operated as a first plug-and-play solution that can be integrated with the heating, ventilation, air-conditioning, and refrigeration (HVACR) equipment. The major sales of Johnson Controls pertaining to the home security industry are mainly managed by its extensive global network of sales and distribution facilities located in more than 60 countries.

Honeywell (US)

Honeywell is a leading provider of the home and building technologies. Presently, the company focuses on the development of newer security solutions, including hardware and software. For instance, in March 2018, the company launched a line of fire-lite addressable fire alarm control panels providing safety professionals with more options for designing small to medium fire systems.

The company has been launching the products with newer technologies, such as cloud-based and Amazon Alexa-integrated solutions. The company has a well-established global brand name and market presence owing to its effective distribution channels. It holds a strong product portfolio and technological advantage with few recent innovations and products launched in the fields of connected solutions, video analytics, and cloud-based services.

Related Reports:

Home Security System Market by Home Type (Independent Homes, Apartments), System Type (Professionally Installed & Monitored, Self-Installed & Professionally Monitored, Do-It-Yourself), Offering (Products, Services), and Geography - Global Forecast to 2023

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Report Code
SE 6558
RI Published ON
8/28/2018
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Home Security System Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved