The global home security sensors market is estimated to attain significant growth at a CAGR of ~8% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of application into video surveillance, alarm system, fire protection system, and others, out of which, the video surveillance segment is anticipated to hold a notable market share over the forecast period. The rising demand for video surveillance systems for viewing and recording any activity in or around the house, in order to lower the chances of crime, is estimated to boost the market growth.
The global home security sensors market is forecasted to grow on the back of the growing demand for advanced security systems in residential places. The growing construction of residential buildings backed by population growth, and increasing crime rates are estimated to act as the primary growth factors for the market. With the growing cases of theft, robbery, and other criminal activities, the need to secure one’s residence is rising. Moreover, the growing adoption of technology amongst the masses is estimated to further boost the market growth.
On the basis of geographical analysis, the global home security sensors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is estimated to acquire the largest market share during the forecast period, owing to the high crime rate in the United States, along with the growing urbanization in the region. United States had a crime rate of more than 350 crimes per 100,000 individuals in 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Occurrences of Crimes to Boost the Market Growth
Up-surge in crimes, such as, burglary, kidnapping, and homicides, have increased the concerns amongst people regarding the safety of their homes. Home security sensors provide proper monitoring of the house and its immediate surroundings, thus, significantly reducing the risk of crime. This is estimated to boost the market growth.
However, high overall expenses are expected to operate as key restraint to the growth of the global home security sensors market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global home security sensors market which includes company profiling of OMRON Corporation, Rockwell Automation, Inc.Honeywell International Inc., LiveWatch Security, LLC, Frontpoint Security Solutions, LLC., Vivint, Inc., Bosch Service Solutions GmbH, ASSA ABLOY, ADT, and Hytronik Industrial Limited. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global home security sensors market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
