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Home Security System Market by Product and Geography - Forecast and Analysis 2022-2026

  • Published: Apr 2022
  • Pages: 120
  • SKU: IRTNTR73288
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The home security system market share is expected to increase to USD 21.53 billion from 2021 to 2026, at a CAGR of 7.8%. 

The home security system industry research report extensively covers the post COVID-19 impact analysis on the market, which will help companies evaluate their business approaches for the forecast period.

The home security system market has been broadly categorized into the following demographic segmentations: 

  • Product - Video surveillance system, alarm system, and access control system
  • Geography - North America, Europe, APAC, Middle East and Africa, and South America

The home security system market vendors covered in this market study include ABB Ltd., ADT Inc., ASSA ABLOY AB, Bay Alarm Co., Frontpoint Security Solutions LLC, Godrej and Boyce Manufacturing Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Johnson Controls International Plc, Link Interactive, Monitronics International Inc., Nice SpA, Nortek Security and Control LLC, Panasonic Corp., Robert Bosch GmbH, Schneider Electric SE, Scout Security Ltd., SimpliSafe Inc., Stanley Black and Decker Inc., Vivint Smart Home Inc., Zhejiang Dahua Technology Co. Ltd., and Snap One LLC among others.

What will the Home Security System Market Size be During the Forecast Period?

Home Security System Market Size

Download the Free Report Sample to Unlock the Home Security System Market Size for the Forecast Period and Other Important Statistics

 

Home Security System Market: Key Drivers, Trends, and Challenges

The growth of DIY home security systems is notably driving the home security system market growth, although factors such as increasing instances of false alarms may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the home security system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Home Security System Market Driver

One of the key factors driving the global home security system industry growth is the growth of DIY home security systems owing to their low cost, ease of installation, and smartphone-enabled operation. Americas is one of the largest adopters of the DIY home security system, with the US in the lead. Factors such as the low cost of these systems compared to professional security systems will be driving the market growth in the forecast years. For instance, cameras used in DIY systems are cheaper when compared to those offered as part of a professional package. In addition, the flexibility associated with DIY security systems will help non-traditional security equipment providers to increase the overall penetration rate of homes with alarm systems.

Key Home Security System Market Trend

Evolution of IoT is one of the key home security system market trends that is expected to impact the industry positively in the forecast period. The interconnection of embedded software, hardware devices, communication services, and IT-related services makes loT efficient. This helps in the efficient remote monitoring and management of numerous interconnected devices. loT also helps to use the wireless video surveillance system to capture videos through cameras and transmit them over a wireless network to other devices such as sensors for immediate response. Other advantages such as easy storage and flexibility to install more video surveillance components such as storage devices, cameras, and video recorders, based on the changing requirements of the residential sector will further support the market growth in the coming years.

Key Home Security System Market Challenge

One of the key challenges to the global home security system industry growth is the increasing instances of false alarms owing to the failure to assess properly. Due to such alarms, the operator may not respond to genuine alarm conditions. False alarms usually happen because of minor errors in the application programs, especially when the sensor is unable to read the object which is nearing the boundary. This not only leads to customer dissatisfaction but may also result in the misuse and loss of sensitive customer information and other fraudulent activities. This may challenge the growth of the market in focus during the forecast years. 

This home security system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global home security system market as a part of the global IT consulting and other services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the home security system market during the forecast period.

Who are the Major Home Security System Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • ADT Inc.
  • ASSA ABLOY AB
  • Bay Alarm Co.
  • Frontpoint Security Solutions LLC
  • Godrej and Boyce Manufacturing Co. Ltd.
  • Hangzhou Hikvision Digital Technology Co. Ltd.
  • Honeywell International Inc.
  • Johnson Controls International Plc
  • Link Interactive
  • Monitronics International Inc.
  • Nice SpA
  • Nortek Security and Control LLC
  • Panasonic Corp.
  • Robert Bosch GmbH
  • Schneider Electric SE
  • Scout Security Ltd.
  • SimpliSafe Inc.
  • Stanley Black and Decker Inc.
  • Vivint Smart Home Inc.
  • Zhejiang Dahua Technology Co. Ltd.
  • Snap One LLC

 

This statistical study of the home security system market encompasses successful business strategies deployed by the key vendors. The home security system market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.

Product Insights and News

  • ADT Inc. - The company offers home security systems such as a smart home controller, 360-degrees indoor camera, and a security starter kit. 
  • ADT Inc. - In January 2022, the company joined a venture with Ford Motor to market in-vehicle security systems. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The home security system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Home Security System Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the home security system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Home Security System Market?

Home Security System Market Market segmentation by region

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34% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for home security systems in North America. Market growth in this region will be faster than the growth of the market in South America.

The significant increase in adoption of smart homes owing to rapid urbanization and the advent of IoT in the home security system will facilitate the home security system market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 negatively impacted the home security system market to a certain extent owing to disruptions in the supply chain, unavailability of raw materials, and extended closures of manufacturing plants in the region. However, in 2021, the initiation of vaccination drives across the region diminishes lockdown restrictions in the region. This has resulted in the resumption of industrial operations and the continuation of construction projects in North America. Therefore, such factors are expected to drive the growth of the home security system market in the region during the forecast period.

What are the Revenue-generating Product Segments in the Home Security System Market?

Home Security System Market Segmentation

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The home security system market share growth by the video surveillance systems segment will be significant during the forecast period. The introduction of video surveillance systems for residential security and the shift from analog cameras to digital cameras will be driving the market during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the home security system market size and actionable market insights on post COVID-19 impact on each segment.

 

Home Security System Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.8%

Market growth 2022-2026

$ 21.53 billion

Market structure

Fragmented

YoY growth (%)

6.8

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 34%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., ADT Inc., ASSA ABLOY AB, Bay Alarm Co., Frontpoint Security Solutions LLC, Godrej and Boyce Manufacturing Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Johnson Controls International Plc, Link Interactive, Monitronics International Inc., Nice SpA, Nortek Security and Control LLC, Panasonic Corp., Robert Bosch GmbH, Schneider Electric SE, Scout Security Ltd., SimpliSafe Inc., Stanley Black and Decker Inc., Vivint Smart Home Inc., Zhejiang Dahua Technology Co. Ltd., and Snap One LLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Home Security System Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive home security system market growth during the next five years
  • Precise estimation of the home security system market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the home security system industry across North America, Europe, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of home security system market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 26: Chart on Comparison by Product
      • Exhibit 27: Data Table on Comparison by Product
    • 5.3 Video surveillance system - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Video surveillance system - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Video surveillance system - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Video surveillance system - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Video surveillance system - Year-over-year growth 2021-2026 (%)
    • 5.4 Alarm system - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Alarm system - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Alarm system - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Alarm system - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Alarm system - Year-over-year growth 2021-2026 (%)
    • 5.5 Access control system - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Access control system - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Access control system - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Access control system - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Access control system - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 40: Market opportunity by Product ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 ADT Inc.
              • Exhibit 93: ADT Inc. - Overview
              • Exhibit 94: ADT Inc. - Product / Service
              • Exhibit 95: ADT Inc. - Key news
              • Exhibit 96: ADT Inc. - Key offerings
            • 10.4 Godrej and Boyce Manufacturing Co. Ltd.
              • Exhibit 97: Godrej and Boyce Manufacturing Co. Ltd. - Overview
              • Exhibit 98: Godrej and Boyce Manufacturing Co. Ltd. - Business segments
              • Exhibit 99: Godrej and Boyce Manufacturing Co. Ltd. - Key offerings
              • Exhibit 100: Godrej and Boyce Manufacturing Co. Ltd. - Segment focus
            • 10.5 Honeywell International Inc.
              • Exhibit 101: Honeywell International Inc. - Overview
              • Exhibit 102: Honeywell International Inc. - Business segments
              • Exhibit 103: Honeywell International Inc. - Key news
              • Exhibit 104: Honeywell International Inc. - Key offerings
              • Exhibit 105: Honeywell International Inc. - Segment focus
            • 10.6 Johnson Controls International Plc
              • Exhibit 106: Johnson Controls International Plc - Overview
              • Exhibit 107: Johnson Controls International Plc - Business segments
              • Exhibit 108: Johnson Controls International Plc - Key news
              • Exhibit 109: Johnson Controls International Plc - Key offerings
              • Exhibit 110: Johnson Controls International Plc - Segment focus
            • 10.7 Link Interactive
              • Exhibit 111: Link Interactive - Overview
              • Exhibit 112: Link Interactive - Product / Service
              • Exhibit 113: Link Interactive - Key offerings
            • 10.8 Monitronics International Inc.
              • Exhibit 114: Monitronics International Inc. - Overview
              • Exhibit 115: Monitronics International Inc. - Business segments
              • Exhibit 116: Monitronics International Inc. - Key offerings
              • Exhibit 117: Monitronics International Inc. - Segment focus
            • 10.9 Panasonic Corp.
              • Exhibit 118: Panasonic Corp. - Overview
              • Exhibit 119: Panasonic Corp. - Business segments
              • Exhibit 120: Panasonic Corp. - Key offerings
              • Exhibit 121: Panasonic Corp. - Segment focus
            • 10.10 Robert Bosch GmbH
              • Exhibit 122: Robert Bosch GmbH - Overview
              • Exhibit 123: Robert Bosch GmbH - Business segments
              • Exhibit 124: Robert Bosch GmbH - Key news
              • Exhibit 125: Robert Bosch GmbH - Key offerings
              • Exhibit 126: Robert Bosch GmbH - Segment focus
            • 10.11 Schneider Electric SE
              • Exhibit 127: Schneider Electric SE - Overview
              • Exhibit 128: Schneider Electric SE - Business segments
              • Exhibit 129: Schneider Electric SE - Key news
              • Exhibit 130: Schneider Electric SE - Key offerings
              • Exhibit 131: Schneider Electric SE - Segment focus
            • 10.12 Zhejiang Dahua Technology Co. Ltd.
              • Exhibit 132: Zhejiang Dahua Technology Co. Ltd. - Overview
              • Exhibit 133: Zhejiang Dahua Technology Co. Ltd. - Business segments
              • Exhibit 134: Zhejiang Dahua Technology Co. Ltd. - Key offerings
              • Exhibit 135: Zhejiang Dahua Technology Co. Ltd. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 136: Inclusions checklist
                • Exhibit 137: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 138: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 139: Research methodology
                • Exhibit 140: Validation techniques employed for market sizing
                • Exhibit 141: Information sources
              • 11.5 List of abbreviations
                • Exhibit 142: List of abbreviations
              • o

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                Home Security System market growth will increase by $21531.41 million during 2022-2026.
                The home security system market is expected to grow at a CAGR of 7.8% during 2022-2026.
                Technavio has segmented the home security system market by product (Video surveillance system, Alarm system, and Access control system) and geographic (North America, Europe, APAC, Middle East and Africa, and South America).
                ABB Ltd., ADT Inc., ASSA ABLOY AB, Bay Alarm Co., Frontpoint Security Solutions LLC, Godrej and Boyce Manufacturing Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Johnson Controls International Plc, Link Interactive, Monitronics International Inc., Nice SpA, Nortek Security and Control LLC, Panasonic Corp., Robert Bosch GmbH, Schneider Electric SE, Scout Security Ltd., SimpliSafe Inc., Stanley Black and Decker Inc., Vivint Smart Home Inc., Zhejiang Dahua Technology Co. Ltd., Snap One LLC are a few of the key vendors in the home security system market.
                North America will register the highest growth rate of 34.44% among the other regions. Therefore, the home security system market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the home security system market growth are:
                • Growth of DIY home security systems
                • Evolution of IoT
                The home security system market vendors should focus on grabbing business opportunities from the video surveillance system segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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                • Five-force market analysis

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