Home Security System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2028

The term "home security" refers to the steps taken to prevent and detect illegal activity by consumers utilizing electronic devices. This equipment is used for video surveillance, intrusion detection, access control, monitoring, and control in the home. These safety precautions are implemented using cutting-edge technology such as cameras, sensors, electronic locks, detectors, alarms, and gesture control systems. Furthermore, the three key components of home security solutions are hardware, software, and services. When a secured zone is broken, a Home Security Solution Market consists of a combination of software and hardware technologies that are designed to detect an intrusion or unauthorized entrance. It can function even in the event of a power loss and warns of potential environmental hazards like carbon monoxide poisoning, fire, and flooding. Nowadays, home security systems are microprocessor-based and handle a wide range of functions while providing a simple user interface.

Increased Home Security Solution Market threats and breaches have resulted in a strong demand for increased safety and security systems such as CCTV cameras, electronic alarm sensors, and other similar devices. This is expected to boost the global market for home security systems. Furthermore, increased urbanization and technological improvements have necessitated the development of a better Home Security Solution Market that can be monitored via cell phones. This has also aided the development of new concepts such as home automation, service bundling, intelligent building, and security integration, consequently bolstering the market for home security systems.

Important Developments

To extend their product portfolio, key market participants are focusing on product releases. Axis Communications AB, for example, released a 4K resolution PTZ camera in September 2019.

Product launches engage key companies in order to increase market presence. For example, HikVision Digital Technology Co., Ltd introduced the AXHub intruder alarm system in September 2018.

Section of Competition

Vivint Inc., Axis Communications AB, Assa Abloy AB, HikVision Digital Technology Co., Ltd., Tyco International Ltd., Protect America, Inc., Honeywell International, Inc., SimpliSafe, Inc., ADT Corporation, and Frontpoint Security Solutions are among the major players in the global home security solutions market.