Market Insights

The Home Security Products and Solutions Market is estimated to grow from USD xx billion in 2020 to USD xx billion by 2026 at a healthy CAGR of 9.7% during the forecast period.

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What are home security products and solutions?

Home security products and solutions are electronic security systems that are designed and used to monitor personal property, homes, living premises, and residential setups to protect them from crimes such as homicides, robberies, property crimes, and home intrusions.

Market Dynamics

The growing need for home security solutions has led to the entrance of home security service providers across the globe, positively boosting the product demand. Also, due to the increase in instances of safety concerns, the need for security measures by residential homes, the industry is expanding. Integrated home security systems enable monitoring of residences by connecting them to smartphones is an outcome of the emergence of smart homes, thus offering lucrative opportunities to the industry players.

Key Players

Key players operating in the home security products and solutions market are-

• Assa Abloy (Sweden)
• United Technologies Corporation (US)
• Honeywell International Inc. (US)
• Robert Bosch GmbH (Germany)
• Ingersoll Rand (Ireland)
• Allegion PLC (Ireland)
• Godrej & Boyce Manufacturing Company Limited (India)
• Control4 Corporation (US)
• Alarm.com (US)
• Nortek Security & Control LLC (US)

COVID-19 Impact

The COVID-19 outbreak has moderately affected the home security products and solutions industry. The ongoing COVID-19 pandemic has negatively influenced the infrastructure development industry and so the product demand. This is mainly due to soaring coronavirus cases, implementation of stringent lockdown measures, and limited movement of people to curb the spread of the virus. Considering stringent government regulations, the construction and infrastructure development industry has suspended its operation, thus affecting the market growth.

Critical Questions Answered in the Report

• What are the key trends in the market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on home security products and solutions?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Segment Analysis

Solution Type

• The home security products and solutions market is classified into the medical alert system, access control & management solution, intruder alarm solution, intercom system, video surveillance solution, fire protection system, an integrated security solution.
• The video surveillance solution segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline.
• Video analytics improves the performance of video surveillance systems through post-event analysis, real-time event detection, and statistical data extraction while saving manpower costs and improving the effectiveness of the surveillance system operations, further bolstering the segment growth.

Regional Analysis

"North American market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years"

• This is mainly ascribed to a rise in household income, rapid urbanization, change in lifestyles of the population, and early adoption of home security systems in this region.
• Moreover, the introduction of IoT and the development of smart cities further proliferate regional market growth.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories. 

By Product Type

• Electronic Locks [Keypad Locks, Biometric Locks, Magnetic Strip Locks, Electric Strip Locks, Electromechanical Door Locks, Wireless Locks]
• Sensors
• Cameras
• 7.5 Panic Buttons
• Fire Sprinklers & Extinguishers
• Alarms

By Solution Type

• Medical Alert System
• Access Control & Management Solution
• Intruder Alarm Solution
• Intercom System
• Video Surveillance Solution
• Fire Protection System
• Integrated Security Solution

By Home Type

• Independent Homes
• Condominiums
• Apartments

By Region

• North America
• Asia-Pacific
• Europe 
• Rest of the World

Target Audience

Here is the list of the group of customers that the home security products and solutions market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis.
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Trend and forecast analysis.
• Segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s market realities and future market possibilities for the forecast period of 2021 to 2026.

The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.

The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. 

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Customization

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.