Global Residential Security Systems Market 2016-2020
About Residential Security Systems
Residential security systems are grids of integrated electronic devices working collectively with a central control panel to defend against burglars and other potential home intruders. Residential security systems operate on the concept of fortifying entry points of a home with sensors that interconnect with a control panel installed in a suitable location inside the home. These sensors are usually positioned on doors as well as easily accessible windows, especially at ground level. Open spaces inside of homes are usually secured with motion sensors.
Technavio’s analysts forecast the global residential security systems market to grow at a CAGR of 7.34% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global residential security systems market for 2016-2020. It also presents the major vendors that are involved in the manufacture of residential security systems for homes across regions such as North America, Europe, APAC, and ROW.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Residential Security Systems Market 2016-2020
Technavio recognizes the following companies as the key players in the report global residential security systems market: ADT Security Services, ASSA ABLOY, Bosch Security Systems, Honeywell International Nortek Security and Control, Tyco Security Products, A2 Systems, Alarm.com, Axis Communications, DvTel, Gallagher, Genetec, Hikvision Digital, Intergraph, Ketec, Lenel Systems, MOBOTIX, Monitronics International, Moonblink, and Vivint
Commenting on the report, an analyst from Technavio’s team said that emergence of IoT in residential security systems is one the key trends. Earlier, security solutions such as access control, intruder alarms, and video surveillance were self-contained and not connected to other systems. Also, they were configured for specific purposes. Closed circuit television (CCTV) systems had cameras linked through cable with proprietary communications to a video controller. Users had authorizations like identity tokens, badges, or fobs that connected directly to the access management tool system. Equipment was monitored and serviced by facility teams or contractors.
According to the report, rising threats to residential buildings is one of the drivers promoting growth. The increasing incidences in the number of criminal activities, thefts, and unauthorized access to individual homes and residential buildings have increased the threat among the owners. Hence, residential buildings are being equipped with a special platform, which will help its occupants to remotely access electronic devices at home via mobile devices such as smartphones, tablets, and laptops. This includes energy management, lighting control, controlling safety and security, and electronic locks. The security provided by monitoring solutions is robust and reliable and can prevent unwanted access to residences.
Further, the report states that threat to user privacy is one of the challenges that the market is facing. The smart home provides enhanced technology and improved experience in various fields such as energy management and home appliances management apart from home automation and security. However, there have been instances of smart homes hacking, which can be a major threat to the market.
ADT Security Services, ASSA ABLOY, Bosch Security Systems, Honeywell International Nortek Security and Control, Tyco Security Products, A2 Systems, Alarm.com, Axis Communications, DvTel, Gallagher, Genetec, Hikvision Digital, Intergraph, Ketec, Lenel Systems, MOBOTIX, Monitronics International, Moonblink, and Vivint
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