Residential Security Market

Residential Security Market

Global Residential Security Market By Product (Security Cameras, Smart Locks, Sensors, Security Alarms, Fire Sprinklers And Extinguishers), By Solution (Audio-Visual Surveillance, Control & Management, Home Integrated Security, Alert System, Intercom System, Fire Protection) By Home Type (Independent And Apartments) Size And Forecast To 2018-2024

  • Published Date: July 2018
  • Report ID: BWC1810
  • Available Format: PDF
  • Page: 203

Report Overview

Lucrative opportunities which firms a positive future of the Global Residential Security Market include the introduction of predictive intelligence in Residential security solutions and growth in the do it yourself (DIY) security solutions. Emerging trends which promises a continuous growth of the global Residential security market comprises of rapid emergence of the wireless residential security which acts as a status trend in many developing regions. The future of the global Residential security market is predicted to be attractive with an increasing number of threats in the residential sector across the globe. As per the study, the market is estimated to reach above USD 67,588 million by 2024. On the account of substantial development in technologies, such as the Internet of Things (IoT), adoption of cloud based security technologies and rapid increase in demand for advanced security solutions, like alert systems and wireless locks, this market is gaining more traction.

Global Residential Security Market: Key Stakeholders

·         Security Equipment Providers

·         Industrial & Home Security Providers

·         Software & Hardware Providers

·         Electrical & Electronic Device Suppliers

·         Telecommunication Providers

·         Cloud Service Providers

·         Professional & Managed Service Providers

·         Real Estate Builders

·         Safety Standard Providers

·         Investors

Global Residential Security Market Insights:

According to BlueWeave Consulting, the key findings of the report “Global Residential Security Market Size, Share, Development, Growth and Demand Forecast to 2024” are:

·         As per the research, sale of security cameras was highest amongst other residential security products. Further, security camera segment is expected to continue with its highest revenue contribution during the forecast period. Security cameras are one of the fundamental devices for Residential security, which are purchased by every Residential owner who wants to immune their property against unexpected intrusions.

·         Among various solutions, demand for audio visual surveillance segment witnessed the highest growth during 2014-2017. However, Residential integrated security segment is anticipated to lead the market with highest growth rate, during the forecast period. Among smart locks, electronic door locks contributed highest revenue to the global market, however, the sales of next generation wireless locks is expected to grow fastest in the coming years

·         North America has been the largest market for Residential security due to mass adoption of Residential security solutions by the citizens, and an updated mindset for securing their Residential with security solutions

·         Asia-Pacific is likely to grow fastest among all regions, during the forecast period. The anticipated growth of Asia-Pacific market is due to digitalization, advancement in new technologies, growth in security equipment industry, and increasing adoption of connected technologies such as Internet of Things (IoT) by Residential security providers in countries like India, China, and Singapore

·         In addition to this, with several government initiatives for instance development of smart city projects, the Asia-Pacific Residential security market has high propensity to witness a rapid scale of revenue generation in near future.

Global Residential Security Market, Revenue Forecast, USD (Million), 2014-2024

Residential Security Market Graph

Global Residential Security Market: Research Methodology

Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding of the global residential security market. The research was conducted covering desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants. The primary research was conducted to gain market insights from industry respondents and validate the gathered information through desk research.

Global Residential Security Market: Competitive Dynamics

The research states that the global Residential security market is highly competitive, with players developing new Residential security applications and smart security solutions. Some of the key players in the global Residential security ecosystem are Bosch Security Systems Inc, Honeywell Security Group, Alarm.Com, Allegion PLC, Ingersoll Rand, Nortek Security & Control LLC, United Technologies Corporation, Control4 Corporation, and Godrej & Boyce Mfg. Co. Ltd.

1.    Research Overview

1.1.  Objectives of the study

1.2.  Market Definition

1.3.  Market Coverage/ Scope

1.3.1.    Segmentation by Product

1.3.2.    Segmentation by Solution

1.3.3.    Segmentation by Residential Type

1.3.4.    Segmentation by Region

1.3.5.    Analysis Period of the study

1.3.6.    Data units

1.4.  Key Participants/Stakeholder

2.    Research Methodology

2.1.  Secondary Research

2.2.  Primary Research

2.2.1.    Primary Research Participants        By Region        By Industry

2.3.  Market Size Estimation

2.4.  Assumptions for the Study

2.5.  Market Breakdown and Data Triangulation

3.    Executive Summary

4.    Introduction

4.1.  Classification of Market

4.1.1.    Overview by  Product        Security cameras        Smart locks        Sensors        Security alarms        Fire sprinklers & extinguishers

4.1.2.    Overview By Solution        Audio-visual surveillance        Access control & management        Home integrated security        Alert system        Intercom system        Fire protection

4.1.3.    Overview By Residential Type        Independent        Apartment

4.2.  Value Chain Analysis

4.3.  Market Dynamics

4.3.1.    Trends        Emergence of wireless home security        Remote monitoring residential security systems        Home automation & residential security as a status trend

4.3.2.    Drivers        Increasing penetration of IoT in home security        Amplified adoption of smart security in the residential sector        Entry of multiple system operators in the global market        Impact analysis of drivers on market forecast

4.3.3.    Restraints        Threat to user privacy        High cost of residential security solutions        Lack of awareness and confusion over choosing the right solution        Impact analysis of restraints on market forecast

4.3.4.    Opportunities        Predictive intelligence in residential security        Growth in DIY residential security solutions

4.4.  Porter’s Five Forces of Competitive Position Analysis

4.4.1.    Bargaining Power of Buyers

4.4.2.    Bargaining Power of Suppliers

4.4.3.    Threat of New Entrants

4.4.4.    Threat of Substitutes

4.4.5.    Intensity of Rivalry

5.    Market Size and Forecast by Product

5.1.  Global Residential Security Cameras Market

5.1.1.    By Region

5.2.  Global Residential Smart Locks Market

5.2.1.    By Type

5.2.2.    By Region

5.3.  Global Residential Sensors Market

5.3.1.    By Region

5.4.  Global Residential Security Alarms Market

5.4.1.    By Region

5.5.  Global Residential Fire Sprinklers & Extinguishers Market

5.5.1.    By Region

6.    Market Size and Forecast by Solution

6.1.  Global Residential Audio-Visual Surveillance Market

6.1.1.    By Region

6.2.  Global Residential Access Control & Management Market

6.2.1.    By Region

6.3.  Global Residential Integrated Security Market

6.3.1.    By Region

6.4.  Global Residential Alert System Market

6.4.1.    By Region

6.5.  Global Residential Intercom System Market

6.5.1.    By Region

6.6.  Global Residential Fire Protection Market

6.6.1.    By Region

7.    Market Size and Forecast by Residential Type

7.1.  Global Residential Security Market for Independent

7.1.1.    By Region

7.2.  Global Residential Security Market for Apartment

7.2.1.    By Region

8.    Market Size and Forecast by Geography

8.1.  North America Residential Security Market

8.1.1.    By Product        By type

8.1.2.    By Solution

8.1.3.    By Residential-Type

8.1.4.    By Country        U.S.        Canada

8.2.  Europe Residential Security Market

8.2.1.    By Product        Residential Security Smart Locks Market, by Type

8.2.2.    By Solution

8.2.3.    By Residential Type

8.2.4.    By Country        U.K.        Russia        Germany        France        Italy        Spain

8.3.  Latin America Residential Security Market

8.3.1.    By Product        Latin America residential security smart locks market, by type

8.3.2.    By Solution

8.3.3.    By Residential Type

8.3.4.    By Country        Brazil        Argentina        Colombia

8.4.  Asia-Pacific Residential Security Market

8.4.1.    By Product        Residential Security Smart Locks Market, by Type

8.4.2.    By Solution

8.4.3.    By Residential Type

8.4.4.    By Country        China        Japan        India        South Korea        Australia

8.5.  MEA Residential Security Market

8.5.1.    By Product        Residential Security Smart Locks Market, by Type

8.5.2.    By Solution

8.5.3.    By Residential Type

8.5.4.    By Country        U.A.E.        South Africa        Israel        Saudi Arabia

9.    Competitive Landscape

9.1.  Recent Activities of Key Players

9.2.  Recent Strategic Developments of Key Players

9.2.1.    Merger & Acquisition

9.2.2.    Partnership

9.2.3.    Product Launch

9.2.4.    Other Developments

10.  Company Profiles

10.1.              Bosch Security Systems

10.1.1.  Business Overview

10.1.2.  Product and Service Offerings

10.1.3.  Strategic Growth Plans

10.2.              Honeywell International Inc.

10.2.1.  Business Overview

10.2.2.  Product and Service Offerings

10.2.3.  Key Financial Summary

10.2.4.  Strategic Growth Plans

10.3.              ALARM.COM HOLDINGS INC.

10.3.1.  Business Overview

10.3.2.  Product and Service Offerings

10.3.3.  Key Financial Summary

10.3.4.  Strategic Growth Plans

10.4.              NORTEK SECURITY & CONTROL, LLC

10.4.1.  Business Overview

10.4.2.  Product and Service Offerings

10.4.3.  Strategic Growth Plans

10.5.              ALLEGION PLC

10.5.1.  Business Overview

10.5.2.  Product and Service Offerings

10.5.3.  Key Financial Summary

10.5.4.  Strategic Growth Plans

10.6.              United Technologies Corporation

10.6.1.  Business Overview

10.6.2.  Product and Service Offerings

10.6.3.  Key Financial Summary

10.6.4.  Strategic Growth Plans

10.7.              INGERSOLL-RAND PLC

10.7.1.  Business Overview

10.7.2.  Product and Service Offerings

10.7.3.  Key Financial Summary

10.7.4.  Strategic Growth Plans

10.8.              CONTROL4 CORPORATION

10.8.1.  Business Overview

10.8.2.  Product and Service Offerings

10.8.3.  Key Financial Summary

10.8.4.  Strategic Growth Plans

10.9.              GODREJ & BOYCE MFG. CO. LTD.

10.9.1.  Business Overview

10.9.2.  Product and Service Offerings

10.9.3.  Key Financial Summar


10.10.1.             Business Overview

10.10.2.             Product and Service Offerings

10.10.3.             Strategic Growth Plans

10.11.           Frontpoint Security Solutions

10.11.1.           Business Overview

10.11.2.           Product and Service Offerings

11.  Strategic Recommendations

12.  Appendix

12.1.              Abbreviations

Market Segmentation

No data available

1.     Research Methodology

Residential Security Market Research Methodology
Source: BlueWeave Consulting Analysis

2.    Regional Split of Primary & Secondary Research

Residential Security Market Research Methodology
Source: BlueWeave Consulting Analysis

3.   Secondary Research

The research process began with obtaining historical market sizes of the entire residential security market and the share of each type of segmentation, through exhaustive secondary research to understand the potential of the market under the prevailing market environment during the past years. The growth rate of the market and its segments was studied with a comparative approach to understand the impact of factors that shaped the market during the recent past.

The next step involved the study of present market environment that is influencing the residential security market and its expected long-term impact. Weightage was given to several forces that are expected to affect the home security market, during the forecast period. Based on the interim analysis, the market numbers were formulated for each of the forecast years for every segment.

4.     Primary Research

Various industry experts including CEOs, presidents, vice presidents, directors, sales managers, products managers, organization executives and other key people of the global residential security market were interviewed. The third step involved validation of hypothesis through segmented primary research with the key opinion leaders in the industry, including the company representatives, experts from distributer agencies, service providers and other industry experts. The primary research helped in assessing the gathered and assumed data with the real-time experience of industry representatives. This also led to modification in certain assumptions that were taken during the process of preliminary research. The analysts arrived at solid data points after the completion of primary research process.

In the fourth step, the market engineering was conducted, where the data points collected through secondary and primary sources were compiled to compute the final market sizes.

4.1    Breakdown of Primary Research Respondents, By Region

Residential Security Market Research Methodology
Source: BlueWeave Consulting Analysis

4.2    Breakdown of Primary Research Respondents, By Industry Participants

Residential Security Market Research Methodology
Source: BlueWeave Consulting Analysis

5.     Market Size Estimation

Top-down approach has been followed to obtain the market size by region, and by country. Bottom-Up approach has been followed to obtain market size by process and by industry. An amalgamation of bottom-up and top-down approach has been performed to determine the revenue.

6.     Assumptions for the Study

  • The macro-economic factors would remain same during the forecast period.
  • The market players would exhibit consistent performance during the forecast period without having any adverse ripple effects on the industry.

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