Home Security Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023

Home security is a growing global market due to the need for safety and increasing crime rates in different parts of the world. The electronic security equipments market foresees tremendous growth potential in the upcoming years due to the growing demand for home security solutions. Security solutions in the residential sector is experiencing significant growth since the past few years due to the adoption of electronic security solutions and the increasing rates of burglary, and attractive insurance policies to residents for installing the security systems.

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Despite the numerous advantages offered by home security systems, lack of awareness about technological encroachments and a higher cost of security solutions are some important factors that are posing a challenge to the growth of the home security system solutions market. Governments and major players are taking initiatives to enhance awareness levels among consumers and achieve better co-operation among solution providers. Rise in the awareness levels among consumers and increased adoption of new technology for home security will gradually result in cost reduction of the solution, thus driving the market for home security solutions.

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The global home security solutions market is categorized based on technology segments such as communication technologies, wired technology, wireless technology, and sensing technology. The product segments of this market include electronic locks, panic buttons, security cameras, sensors, and alarms among others. Amongst the product segments, electronic locks and security sensors are the most popular and widely used segments

Some of the major players in this market include Bosch Security Systems Inc., Tyco International Ltd., and...