MarketsandMarkets: Global Home Security Solutions Market Worth $34.46 Billion by 2017
DALLAS, June 13, 2012 /PRNewswire/ –
According to a new market research report “Home Security Solutions Market – Global
Forecast & Analysis (2012 – 2017) By Products, Security System Solutions & Homes”
published by MarketsandMarkets (http://www.marketsandmarkets.com), the home security
solutions market, on the whole, is expected to reach $34.46 billion by 2017 at a CAGR of
9.1% from 2012 to 2017.
Browse more than 70 tables and in-depth TOC on “Home Security Solutions Market -
Global Forecast & Analysis (2012 – 2017) By Products (Electronic Locks, Sensors, Cameras,
Panic Button, Alarms), Security System Solutions (Medical Alert Systems, Access Control &
Management Systems, Alarm Systems, Intercom Systems, Video Surveillance Systems, Energy
Management Systems, Integrated Security Systems) & Homes (Independent Homes, Condominiums,
Early buyers will receive 10% customization on reports.
The residential security solutions market is observed to have gained momentum in the
recent past. This is mainly attributed to the rapid rise in crime rates and the
technological advancements. Electronic security systems are installed in houses for
several purposes such as intrusion detection, assurance of their safety, and more. In
addition, the growing awareness about energy conservation and need for medical access
control, detection of hazardous conditions such as fire and gas leaks also motivates
people to install energy management systems and medical alert systems with the other
The key factors driving the home security solutions market include growing demand for
home monitoring, attractive policies, growth of smartphones and tablets, and an increasing
demand for home monitoring. On the other hand, lack of technology awareness and high cost
restrain the market growth for home security solutions. In terms of revenue generation as
of 2011, North America held the highest share, i.e. 55.6%, followed by Asia-Pacific with
Amongst the various end-products used for home security solutions such as electronic
locks, sensors, alarms, cameras and panic buttons, cameras were the most potential product
market with a share of approximately 26.69% as of 2011. This was followed by electronic
locks and sensors with market shares of 26.32% and 24.49% respectively. Alarm systems have
been in use in the market since long; for the purpose of home security and hence they held
the highest share, i.e. 35% in the overall home security solutions market
as of 2011. This was followed by intercom systems with a market share of 26%. On the other
hand, energy management systems and integrated security systems are expected to provide
potential growth opportunities for home security solution providers and hence are
estimated to grow at a CAGR of 30.7% and 25.4% respectively from 2012 to 2017. On the
basis of the types of homes wherein security solutions are utilized, independent homes
held the highest share, i.e. 80% as of 2011. However, apartments are expected to provide
potential growth opportunities owing to the rapid migration towards them off late.
The global home security solutions market is expected to grow from $20.64 billion in
2011 to $34.46 billion in 2017 at a CAGR of 9.1% from 2012 to 2017. Asia-Pacific region is
expected to grow at the highest rate. This is mainly due to the growing realization of
security threats to individuals and the boom in construction industry in this region.
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