residential security market

Residential Security Market

  • ICT-SE-4873
  • 4.7 Rating
  • 210 Pages
  • 05-07-2022
  • 76 Reviews
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Raksha

Author:

Raksha Sharma

Amulya

Fact-checked by:

Amulya Agarwal

Shruti

Editor:

Shruti Bhat

Residential Security Market Outlook

The global residential security market size was USD 36.9 Bn in 2022 and is likely to reach USD 84.2 Bn by 2031, at a CAGR of 10.1% during the forecast period, 2023-2031. The market growth is attributed to the rising demand for residential security devices as the burglary rate is growing rapidly across the globe and the demand for smart homes is rapidly growing in developing countries. 

A residential security system is a network of physical and electronic components that work together to keep a home safe. Residential security systems operate on the same fundamental idea of securing a house's entrance points such as doors & windows and the interior from fire and other threats.

Residential Security Market Market Outlook

Security system components vary widely from system to system, with some firms using only sensors while others use all of these and more. All of the parts are connected to a base station in the majority of home security systems. They establish a connection with a smartphone app, which enables monitoring and managing everything remotely. Most devices are linked to phones via Bluetooth, Wi-Fi, or cellular technology. In the event of a power loss, other systems opt to include a landline or battery backup.

Residential Security Market Dynamics

What Drives Residential Security Market?

  • The emergence of wireless technologies and the Internet of Things (IoT)

IoT-based security systems guarantee security by sending users prompt notifications. Smart sensing tells the user when it notices variations in motion, heat, or sound. IoT increases the functionality of devices by making a lot of high-quality data available. For instance, the usage of HD cameras, infrared, and night vision surveillance systems ensures the availability of details of every event.

When there is an actual movement, motion activation captures and transmits information. Devices for digital video recording (DVR) make it possible to select a specific event's clip from the whole recording for a specific date and time. As a result, the development of IoT devices and efficient wireless communication is projected to accelerate the adoption of residential security systems with flexible security features.

  • Increase in Burglary and Crime Rates

The demand for residential security systems has increased due to the rise in the rate of accidents and crime in recent years. According to the US Department of Justice, around 2.5 million burglaries are committed every year in the US. The high demand for security systems that identify smoke and fire, criminal activity, and provide assistance in alarming any medical situations are expected to help the market gain significant momentum which results in further market growth during the forecast period.

  • Growth in the use of residential security systems

Installation of fire sprinklers and extinguishers is becoming a common practice in commercial and residential buildings. High-quality fire sprinklers prevent the risks early in their early stages, encouraging residents to install security systems. There are numerous applications of residential security systems that include live streaming to keep an eye on children or pets, which are expected to fuel the market in the coming years. Other benefits of installing residential security include accessibility, operational simplicity, and ease of recovering residential insurance policies.

  • Rise in urbanization and disposable income

Rising urbanization, growing population, and increasing preference for using smart devices drive the market. The convenience of life in developed nations has been brought up due to increasing urbanization and industrialization. Growing disposable income is encouraging people to install high-quality residential security systems to feel safe, which is expected to drive the market. The value of the residential property also increases with the residential security systems.

What Restraints Residential Security Market?

  • High costs associated with maintenance, installation, and operational

The price of hardware, software, and services needed to establish a security system is having an impact on how many people choose to use residential security solutions. The upfront installation cost for a professionally installed system is high due to the high cost of hardware and consultancy fees.

These systems require high ownership costs, as they need regular maintenance and require subscription payments and replacement in the event of damage. Additionally, software equipped with extensive analytics functions is expensive, which increases a system's overall cost.

  • System complexity

Residential security systems are becoming increasingly complicated, as unique gadgets are connected to a single platform. The main design flaw in security systems is the integration of several devices, with varying degrees of compatibility, on a single platform.

A broad variety of sensors, actuators, and other wireless devices are used in residential security systems, producing a lot of data. Data traffic is produced by real-time monitoring and control using the created data. Additionally, wireless sensor networks' communication protocols, hardware, and processing resources limit data-handling capacity and smooth connectivity.

What are the Opportunities for Residential Security Market?

  • Increase in adoption of artificial intelligence (AI) and machine learning

The rising use of artificial intelligence (AI) is creating opportunities in the market. Additionally, AI combined with machine learning is able to decrease false alarms, enhance the performance of anomaly detection and video analytics, and enhance the capabilities of video verification and monitoring. This combination of security and monitoring systems attracts additional consumers, which is projected to propel the market in the coming years.

  • Advancement in Residential Security Systems

Companies are increasingly adding attractive features and top-notch controls to residential security systems. Advanced residential security systems drive a lot of attention from people due to the fixed technical issues, refined technology, and smart features such as managing the thermostat, air conditioning, ventilation, and lighting, which results in an increase in demand for security systems.

Modern residential security operates with little energy use while tracking the overall energy consumption, which is a concern for developed countries searching for ways to save energy. Such attractive characteristics have prompted developed economies to encourage citizens to install residential security advanced systems. The demand for residential security is increasing due to the miniaturization of sensors.

Scope of Residential Security Market Report

The report on the global residential security market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Residential Security Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Base Year

2022

Historic Data

2016-2021

Forecast Period

2023–2031

Segmentation

Product Type (Smart Locks, Security Cameras, Fire Sprinklers & Extinguishers, Sensors & Security Alarms, and Others), Solution Type (System and Services), Security Type (Professional-installed & Monitored, Self-installed & Professionally Monitored, and Do-It-Yourself), and Residential Type (Independent Homes and Condominiums/ Apartments)

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered

Johnson Controls, ADT, Hangzhou Hikvision Digital Technology Co., Ltd, ASSA ABLOY, Resideo Technologies Inc., Robert Bosch GmbH, SECOM Co., Ltd., ABB, Allegion plc, and Godrej & Boyce Mfg. Co. Ltd.

Residential Security Market Segmental Outlook

What Key Factors Contribute to the Significant Expansion of the Product Type Segment?

In terms of product types, the residential security market is segmented into smart locks, security cameras, fire sprinklers & extinguishers, sensors, security alarms, and others. The security cameras segment dominated the market in 2022 and the demand for security cameras is rapidly increasing as these are most commonly used and act as a strong deterrence to criminals and those who engage in illegal acts.

CCTV systems are expected to be complemented by other digital technologies namely, Internet Protocol CCTV to produce autonomous and adaptive surveillance mechanisms, which are anticipated to propel the market. 
The security alarms segment is anticipated to register a considerable CAGR in the coming years due to the rising demand for security alarms along with security cameras as these alarms help to send an alert to consumers if a burglary takes place. Moreover, key manufacturers are offering security alarms along with security cameras which can boost the global market in the coming years.

Residential Security Market Product Type

What are the Main Aspects for Boosting the Security Types Segment?

In terms of security type, the residential security market is split into professionally installed and monitored, self-installed and professionally monitored, and Do-It-Yourself (DIY). The professionally-installed and monitored segment is projected to hold a substantial share of the market in 2022 as the installer can provide advice and usage instructions on-site. Moreover, professional installation can be a good option for more complex installations.

The DIY segment is anticipated to register a considerable CAGR during the forecast period owing to the increasing consumer preference for DIY products.  DIY products are gaining rapid attraction across the globe as it offers consumers to construct and handle the whole product on their own.

Why is the System Segment More Prevalent than the Service Segment?

In terms of solution types, the residential security market is bifurcated into systems and services. The system segment is further split into a fire protection system, video surveillance system, access control system, entrance control system, and intruder alarm system. The system segment is expected to expand at a significant rate as manufacturers are focusing on providing various systems with their products for consumers.

The services segment is further divided into security system integration services, remote monitoring services, fire protection services, video surveillance services, and access control services. The service segment is anticipated to register a considerable CAGR in the coming years owing to the increasing number of various easy-to-access services such as video surveillance services gaining rapid attraction with the introduction of 4K video resolution, AI, and machine learning which can further drive the market in the global market.

Residential Security Market Solution Type

Which Major Factors influence the Substantial Growth of the Residential Type Segment?

In terms of residential types, the residential security market is split into independent homes and condominiums/ apartments. The independent homes segment is projected to hold a significant share of the market in 2022, as residential security systems are widely used in doors, locks, alarm systems, lighting, motion detectors, and security camera systems.

The condominiums/ apartments segment is expected to register a considerable CAGR during the forecast period owing to the increasing usage of security systems in apartments for security measures. Apartments owners are installing various security systems for a better and safe residential experience for the consumer experience.

Why is North America dominating the Global Residential Security Market?

Based on region, the residential security market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to account for a dominant share of the global market in the year 2022. The growth of the market in North America is attributed to consistent technological advancements in residential security systems in the region, which are boosting the adoption of residential security systems in the region. Furthermore, increasing awareness among consumers regarding their safety is projected to propel the market in North America.

The market in Asia Pacific is expected to register a considerable CAGR during the forecast period owing to the rising population and rapid developments in infrastructure in the region. Increasing adoption of Artificial Intelligence (AI) in the Internet Of Things (IoT) devices especially for security and surveillance devices in developing countries such as India and China can drive the market in the region.

Residential Security Market Region

Key Benefits for Industry Participants & Stakeholders

  • In-depth Analysis of the global Residential security market
  • Historical, Current, and Projected Market Size in terms of Value and Volume
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints, and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on Global Residential Security Market Performance

Segments

Product Type

  • Smart Locks
  • Security Cameras
  • Sprinklers & Extinguishers
  • Sensors and Security Alarms
  • Others

Security Type

  • Professional-installed and Monitored
  • Self-installed and Professionally Monitored
  • Do-It-Yourself (DIY)

Solution Type

  • System
  • Services

Residential Type

  • Independent Homes
  • Condominiums/ Apartments

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Market Players Profiled in the Report

  • ADT
  • Honeywell International Inc (Resideo Technologies Inc)
  • Johnson Controls
  • Hangzhou Hikvision Digital Technology Co., Ltd
  • ASSA ABLOY
  • SECOM CO., LTD
  • Robert Bosch Smart Home GmbH
  • CISA S.p.A.
  • ABB
  • Godrej.com

Competitive Landscape

  • Top players in the market include Johnson Controls, ADT, Hangzhou Hikvision Digital Technology Co., Ltd, ASSA ABLOY, Resideo Technologies Inc., Robert Bosch GmbH, SECOM Co., Ltd., ABB, Allegion plc, Godrej & Boyce Mfg. Co. Ltd.
  • These companies are considered key manufacturers of residential security based on their revenue, product offerings, regional presence, and supply chain management system.
  • The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where the potential opportunity for the residential security market.

Residential Security Market Key Players

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Residential Security Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Residential Security Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Residential Security Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Residential Security Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Residential Security Market Size & Forecast, 2015-2030
      4.5.1 Residential Security Market Size and Y-o-Y Growth
      4.5.2 Residential Security Market Absolute $ Opportunity
   4.6 Pricing Analysis & Forecast, By Product Type, 2015-2030
   4.7 Global Residential Security System Installation Base by Region
   4.8 Residential Security: Emerging Technologies Landscape
   4.9 Residential Security Machine Learning and Predictive Analytics: Overview
   4.10 Residential Smart Security and Traditional Security Market: Overview
Chapter 5 Global Residential Security Market Analysis and Forecast By Product Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Product Type
      5.1.2 Basis Point Share (BPS) Analysis By Product Type
      5.1.3 Absolute $ Opportunity Assessment By Product Type
   5.2 Residential Security Market Size & Volume Forecast By Product Type
      5.2.1 Smart Locks
      5.2.2 Security Cameras
      5.2.3 Fire Sprinklers & Extinguishers
      5.2.4 Sensors and Security Alarms
      5.2.5 Others
   5.3 Market Attractiveness Analysis By Product Type
Chapter 6 Global Residential Security Market Analysis and Forecast By Security Type
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Security Type
      6.1.2 Basis Point Share (BPS) Analysis By Security Type
      6.1.3 Absolute $ Opportunity Assessment By Security Type
   6.2 Residential Security Market Size & Volume Forecast By Security Type
      6.2.1 Professional-installed and Monitored
      6.2.2 Self-installed and Professionally Monitored
      6.2.3 Do-It-Yourself (DIY)
   6.3 Market Attractiveness Analysis By Security Type
Chapter 7 Global Residential Security Market Analysis and Forecast By Solution Type
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By Solution Type
      7.1.2 Basis Point Share (BPS) Analysis By Solution Type
      7.1.3 Absolute $ Opportunity Assessment By Solution Type
   7.2 Residential Security Market Size & Volume Forecast By Solution Type
      7.2.1 System
         7.2.1.1 Fire Protection System
         7.2.1.2 Video Surveillance System
         7.2.1.3 Access Control System
         7.2.1.4 Entrance Control System
         7.2.1.5 Intruder Alarm System
      7.2.2 Services
         7.2.2.1 Security System Integration Services
         7.2.2.2 Remote Monitoring Services
         7.2.2.3 Fire Protection Services
         7.2.2.4 Video Surveillance Services
         7.2.2.5 Access Control Services
   7.3 Market Attractiveness Analysis By Solution Type
Chapter 8 Global Residential Security Market Analysis and Forecast By Residential Type
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities By Residential Type
      8.1.2 Basis Point Share (BPS) Analysis By Residential Type
      8.1.3 Absolute $ Opportunity Assessment By Residential Type
   8.2 Residential Security Market Size & Volume Forecast By Residential Type
      8.2.1 Independent Homes
      8.2.2 Condominiums/Apartments
   8.3 Market Attractiveness Analysis By Residential Type
Chapter 9 Global Residential Security Market Analysis and Forecast by Region
   9.1 Introduction
      9.1.1 Key Market Trends & Growth Opportunities by Region
      9.1.2 Basis Point Share (BPS) Analysis by Region
      9.1.3 Absolute $ Opportunity Assessment by Region
   9.2 Residential Security Market Size & Volume Forecast by Region
      9.2.1 North America
      9.2.2 Europe
      9.2.3 Asia Pacific
      9.2.4 Latin America
      9.2.5 Middle East & Africa (MEA)
   9.3 Market Attractiveness Analysis by Region
Chapter 10 Coronavirus Disease (COVID-19) Impact
   10.1 Introduction
   10.2 Current & Future Impact Analysis
   10.3 Economic Impact Analysis
   10.4 Government Policies
   10.5 Investment Scenario
Chapter 11 North America Residential Security Analysis and Forecast
   11.1 Introduction
   11.2 North America Residential Security Market Size & Volume Forecast by Country
      11.2.1 U.S.
      11.2.2 Canada
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 North America Residential Security Market Size & Volume Forecast By Product Type
      11.6.1 Smart Locks
      11.6.2 Security Cameras
      11.6.3 Fire Sprinklers & Extinguishers
      11.6.4 Sensors and Security Alarms
      11.6.5 Others
   11.7 Basis Point Share (BPS) Analysis By Product Type
   11.8 Absolute $ Opportunity Assessment By Product Type
   11.9 Market Attractiveness Analysis By Product Type
   11.10 North America Residential Security Market Size & Volume Forecast By Security Type
      11.10.1 Professional-installed and Monitored
      11.10.2 Self-installed and Professionally Monitored
      11.10.3 Do-It-Yourself (DIY)
   11.11 Basis Point Share (BPS) Analysis By Security Type
   11.12 Absolute $ Opportunity Assessment By Security Type
   11.13 Market Attractiveness Analysis By Security Type
   11.14 North America Residential Security Market Size & Volume Forecast By Solution Type
      11.14.1 System
         11.14.1.1 Fire Protection System
         11.14.1.2 Video Surveillance System
         11.14.1.3 Access Control System
         11.14.1.4 Entrance Control System
         11.14.1.5 Intruder Alarm System
      11.14.2 Services
         11.14.2.1 Security System Integration Services
         11.14.2.2 Remote Monitoring Services
         11.14.2.3 Fire Protection Services
         11.14.2.4 Video Surveillance Services
         11.14.2.5 Access Control Services
   11.15 Basis Point Share (BPS) Analysis By Solution Type
   11.16 Absolute $ Opportunity Assessment By Solution Type
   11.17 Market Attractiveness Analysis By Solution Type
   11.18 North America Residential Security Market Size & Volume Forecast By Residential Type
      11.18.1 Independent Homes
      11.18.2 Condominiums/Apartments
   11.19 Basis Point Share (BPS) Analysis By Residential Type
   11.20 Absolute $ Opportunity Assessment By Residential Type
   11.21 Market Attractiveness Analysis By Residential Type
Chapter 12 Europe Residential Security Analysis and Forecast
   12.1 Introduction
   12.2 Europe Residential Security Market Size & Volume Forecast by Country
      12.2.1 Germany
      12.2.2 France
      12.2.3 Italy
      12.2.4 U.K.
      12.2.5 Spain
      12.2.6 Russia
      12.2.7 Rest of Europe
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Europe Residential Security Market Size & Volume Forecast By Product Type
      12.6.1 Smart Locks
      12.6.2 Security Cameras
      12.6.3 Fire Sprinklers & Extinguishers
      12.6.4 Sensors and Security Alarms
      12.6.5 Others
   12.7 Basis Point Share (BPS) Analysis By Product Type
   12.8 Absolute $ Opportunity Assessment By Product Type
   12.9 Market Attractiveness Analysis By Product Type
   12.10 Europe Residential Security Market Size & Volume Forecast By Security Type
      12.10.1 Professional-installed and Monitored
      12.10.2 Self-installed and Professionally Monitored
      12.10.3 Do-It-Yourself (DIY)
   12.11 Basis Point Share (BPS) Analysis By Security Type
   12.12 Absolute $ Opportunity Assessment By Security Type
   12.13 Market Attractiveness Analysis By Security Type
   12.14 Europe Residential Security Market Size & Volume Forecast By Solution Type
      12.14.1 System
         12.14.1.1 Fire Protection System
         12.14.1.2 Video Surveillance System
         12.14.1.3 Access Control System
         12.14.1.4 Entrance Control System
         12.14.1.5 Intruder Alarm System
      12.14.2 Services
         12.14.2.1 Security System Integration Services
         12.14.2.2 Remote Monitoring Services
         12.14.2.3 Fire Protection Services
         12.14.2.4 Video Surveillance Services
         12.14.2.5 Access Control Services
   12.15 Basis Point Share (BPS) Analysis By Solution Type
   12.16 Absolute $ Opportunity Assessment By Solution Type
   12.17 Market Attractiveness Analysis By Solution Type
   12.18 Europe Residential Security Market Size & Volume Forecast By Residential Type
      12.18.1 Independent Homes
      12.18.2 Condominiums/Apartments
   12.19 Basis Point Share (BPS) Analysis By Residential Type
   12.20 Absolute $ Opportunity Assessment By Residential Type
   12.21 Market Attractiveness Analysis By Residential Type
Chapter 13 Asia Pacific Residential Security Analysis and Forecast
   13.1 Introduction
   13.2 Asia Pacific Residential Security Market Size & Volume Forecast by Country
      13.2.1 China
      13.2.2 Japan
      13.2.3 South Korea
      13.2.4 India
      13.2.5 Australia
      13.2.6 South East Asia (SEA)
      13.2.7 Rest of Asia Pacific (APAC)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Asia Pacific Residential Security Market Size & Volume Forecast By Product Type
      13.6.1 Smart Locks
      13.6.2 Security Cameras
      13.6.3 Fire Sprinklers & Extinguishers
      13.6.4 Sensors and Security Alarms
      13.6.5 Others
   13.7 Basis Point Share (BPS) Analysis By Product Type
   13.8 Absolute $ Opportunity Assessment By Product Type
   13.9 Market Attractiveness Analysis By Product Type
   13.10 Asia Pacific Residential Security Market Size & Volume Forecast By Security Type
      13.10.1 Professional-installed and Monitored
      13.10.2 Self-installed and Professionally Monitored
      13.10.3 Do-It-Yourself (DIY)
   13.11 Basis Point Share (BPS) Analysis By Security Type
   13.12 Absolute $ Opportunity Assessment By Security Type
   13.13 Market Attractiveness Analysis By Security Type
   13.14 Asia Pacific Residential Security Market Size & Volume Forecast By Solution Type
      13.14.1 System
         13.14.1.1 Fire Protection System
         13.14.1.2 Video Surveillance System
         13.14.1.3 Access Control System
         13.14.1.4 Entrance Control System
         13.14.1.5 Intruder Alarm System
      13.14.2 Services
         13.14.2.1 Security System Integration Services
         13.14.2.2 Remote Monitoring Services
         13.14.2.3 Fire Protection Services
         13.14.2.4 Video Surveillance Services
         13.14.2.5 Access Control Services
   13.15 Basis Point Share (BPS) Analysis By Solution Type
   13.16 Absolute $ Opportunity Assessment By Solution Type
   13.17 Market Attractiveness Analysis By Solution Type
   13.18 Asia Pacific Residential Security Market Size & Volume Forecast By Residential Type
      13.18.1 Independent Homes
      13.18.2 Condominiums/Apartments
   13.19 Basis Point Share (BPS) Analysis By Residential Type
   13.20 Absolute $ Opportunity Assessment By Residential Type
   13.21 Market Attractiveness Analysis By Residential Type
Chapter 14 Latin America Residential Security Analysis and Forecast
   14.1 Introduction
   14.2 Latin America Residential Security Market Size & Volume Forecast by Country
      14.2.1 Brazil
      14.2.2 Mexico
      14.2.3 Rest of Latin America (LATAM)
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Latin America Residential Security Market Size & Volume Forecast By Product Type
      14.6.1 Smart Locks
      14.6.2 Security Cameras
      14.6.3 Fire Sprinklers & Extinguishers
      14.6.4 Sensors and Security Alarms
      14.6.5 Others
   14.7 Basis Point Share (BPS) Analysis By Product Type
   14.8 Absolute $ Opportunity Assessment By Product Type
   14.9 Market Attractiveness Analysis By Product Type
   14.10 Latin America Residential Security Market Size & Volume Forecast By Security Type
      14.10.1 Professional-installed and Monitored
      14.10.2 Self-installed and Professionally Monitored
      14.10.3 Do-It-Yourself (DIY)
   14.11 Basis Point Share (BPS) Analysis By Security Type
   14.12 Absolute $ Opportunity Assessment By Security Type
   14.13 Market Attractiveness Analysis By Security Type
   14.14 Latin America Residential Security Market Size & Volume Forecast By Solution Type
      14.14.1 System
         14.14.1.1 Fire Protection System
         14.14.1.2 Video Surveillance System
         14.14.1.3 Access Control System
         14.14.1.4 Entrance Control System
         14.14.1.5 Intruder Alarm System
      14.14.2 Services
         14.14.2.1 Security System Integration Services
         14.14.2.2 Remote Monitoring Services
         14.14.2.3 Fire Protection Services
         14.14.2.4 Video Surveillance Services
         14.14.2.5 Access Control Services
   14.15 Basis Point Share (BPS) Analysis By Solution Type
   14.16 Absolute $ Opportunity Assessment By Solution Type
   14.17 Market Attractiveness Analysis By Solution Type
   14.18 Latin America Residential Security Market Size & Volume Forecast By Residential Type
      14.18.1 Independent Homes
      14.18.2 Condominiums/Apartments
   14.19 Basis Point Share (BPS) Analysis By Residential Type
   14.20 Absolute $ Opportunity Assessment By Residential Type
   14.21 Market Attractiveness Analysis By Residential Type
Chapter 15 Middle East & Africa (MEA) Residential Security Analysis and Forecast
   15.1 Introduction
   15.2 Middle East & Africa (MEA) Residential Security Market Size & Volume Forecast by Country
      15.2.1 Saudi Arabia
      15.2.2 South Africa
      15.2.3 UAE
      15.2.4 Rest of Middle East & Africa (MEA)
   15.3 Basis Point Share (BPS) Analysis by Country
   15.4 Absolute $ Opportunity Assessment by Country
   15.5 Market Attractiveness Analysis by Country
   15.6 Middle East & Africa (MEA) Residential Security Market Size & Volume Forecast By Product Type
      15.6.1 Smart Locks
      15.6.2 Security Cameras
      15.6.3 Fire Sprinklers & Extinguishers
      15.6.4 Sensors and Security Alarms
      15.6.5 Others
   15.7 Basis Point Share (BPS) Analysis By Product Type
   15.8 Absolute $ Opportunity Assessment By Product Type
   15.9 Market Attractiveness Analysis By Product Type
   15.10 Middle East & Africa (MEA) Residential Security Market Size & Volume Forecast By Security Type
      15.10.1 Professional-installed and Monitored
      15.10.2 Self-installed and Professionally Monitored
      15.10.3 Do-It-Yourself (DIY)
   15.11 Basis Point Share (BPS) Analysis By Security Type
   15.12 Absolute $ Opportunity Assessment By Security Type
   15.13 Market Attractiveness Analysis By Security Type
   15.14 Middle East & Africa (MEA) Residential Security Market Size & Volume Forecast By Solution Type
      15.14.1 System
         15.14.1.1 Fire Protection System
         15.14.1.2 Video Surveillance System
         15.14.1.3 Access Control System
         15.14.1.4 Entrance Control System
         15.14.1.5 Intruder Alarm System
      15.14.2 Services
         15.14.2.1 Security System Integration Services
         15.14.2.2 Remote Monitoring Services
         15.14.2.3 Fire Protection Services
         15.14.2.4 Video Surveillance Services
         15.14.2.5 Access Control Services
   15.15 Basis Point Share (BPS) Analysis By Solution Type
   15.16 Absolute $ Opportunity Assessment By Solution Type
   15.17 Market Attractiveness Analysis By Solution Type
   15.18 Middle East & Africa (MEA) Residential Security Market Size & Volume Forecast By Residential Type
      15.18.1 Independent Homes
      15.18.2 Condominiums/Apartments
   15.19 Basis Point Share (BPS) Analysis By Residential Type
   15.20 Absolute $ Opportunity Assessment By Residential Type
   15.21 Market Attractiveness Analysis By Residential Type
Chapter 16 Competition Landscape
   16.1 Residential Security Market: Competitive Dashboard
   16.2 Global Residential Security Market: Market Share Analysis, 2021
   16.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      16.3.1 Johnson Controls.
      16.3.2 ADT
      16.3.3 Hangzhou Hikvision Digital Technology Co., Ltd.
      16.3.4 ASSA ABLOY
      16.3.5 Resideo Technologies Inc
      16.3.6 Robert Bosch GmbH 
      16.3.7 SECOM Co., Ltd.
      16.3.8 ABB
      16.3.9 Allegion plc
      16.3.10 Godrej & Boyce Mfg. Co. Ltd.

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FAQ Section

Some frequently asked questions about this report!

Key players competing in the global market are Johnson Controls, ADT, Hangzhou Hikvision Digital Technology Co., Ltd, ASSA ABLOY, Resideo Technologies Inc., Robert Bosch GmbH, SECOM Co., Ltd., ABB, Allegion plc, and Godrej & Boyce Mfg. Co. Ltd.

North America is likely to dominate the Residential Type market during the forecast period.

The market growth is attributed to the rising demand for residential security devices as the rate of burglary is growing at a rapid pace across the globe.

Based on residential type, Individual homes segment constituted a key share of the Residential Security market in 2022.

The global residential security market size was USD 36.9 Bn in 2022 and is likely to reach USD 84.2 Bn by 2031, at a CAGR of 10.1% during the forecast period, 2023-2031.