Global Home Security Systems Market by Home Type, Security, Systems, Services and Region - Forecast 2025
DUBLIN, July 30, 2020 /PRNewswire/ -- The "Home Security Systems Market by Home Type (Independent Homes, Apartments), Security (Professionally Installed & Monitored, Do-It-Yourself), Systems (Access Control Systems), Services (Security System Integration Services), Region - Global Forecast 2025" report has been added to ResearchAndMarkets.com's offering.
The global home security systems market was valued at USD 53.6 billion in 2020 and is expected to reach USD 78.9 billion by 2025, at a CAGR of 8% during the forecast period.
The growth of the home security systems market is driven by factors such as growing awareness regarding home security systems, the emergence of the Internet of Things (IoT) and wireless technologies and increasing adoption of IP cameras for video surveillance amid COVID-19 crisis.
Home security system market for products to grow at higher CAGR during the forecast period.
The projected growth of the home security system market for products is mainly attributed to the increasing penetration of these systems in emerging economies and the rising adoption of do-it-yourself (DIY) products. Additionally, the proliferation of smart city projects, the emergence of IoT, and the integration of wireless technology are a few factors that are expected to fuel the implementation of home security products across different households.
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