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Home Security Sensors Market Segmentation by Component (Software, Services, and Others); by Application (Video Surveillance, Alarm System, Fire Protection System, and Others); by End-User – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Home Security Sensors Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

·  June, 2021: ASSA ABLOY announced the acquisition of MR Group in Portugal. The hardware division of MR Group will be acquired by the company to expand its regional footprint.

Global Home Security Sensors Market Highlights over 2022 – 2030

The global home security sensors market is estimated to grow at a CAGR of ~8% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing demand for advanced security in residential places, backed by the rising crime rate across the world. The global population is growing at a rapid rate, resulting in emergence of new residential buildings which require security. According to the data by the World Bank, the global population reached 7.753 billion in 2020. The growing urbanization is another major factor estimated to boost the market growth. The increasing dangers of security threats amongst people, along with the mounting rates of burglary and robbery, are estimated to increase the demand for home security sensors. Moreover, the adoption of advanced technology backed by high disposable income of individuals is projected to boost the market growth.

Home Security Sensors Market

The market is segmented by application into video surveillance, alarm system, fire protection system, and others, out of which, the video surveillance segment is anticipated to hold a notable share in the global home security sensors market over the forecast period on account of rising demand for video surveillance systems in houses to ensure complete safety from theft, and other crimes. As video surveillance provides the option to not only view but also record the footage, it can lower the chances of any crime significantly. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Home Security Sensors Market Regional Synopsis

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 anticipated to gain the largest market share throughout the forecast period owing to the high prevalence of crimes, such as, homicide, robbery and others. In fact, more than 350 crimes are reported per 100,000 individuals in the United States. This is estimated to boost the regional market growth.

The market in Asia Pacific region is estimated to witness modest growth over the forecast period on the back of growing population and urbanization in the region, along with the growing construction of residential buildings in developing countries.

Home Security Sensors Market

The global home security sensors market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global home security sensors market includes the following segments:

By Component

  • Software
  • Services
  • Others

By Application

  • Video Surveillance
  • Alarm System
  • Fire Protection System
  • Others

By End-User

  • Residential
  • Infrastructural
  • Others

Growth Drivers

  • Rising Danger of Security Threats and Crimes
  • Increasing Demand for Residents

Challenges

  • Lack of Technical Knowledge
  • High Overall Expenditure

Top Featured Companies Dominating the Market

  • Rockwell Automation, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • OMRON Corporation
  • Honeywell International Inc.
  • LiveWatch Security, LLC
  • Frontpoint Security Solutions, LLC.
  • Vivint, Inc.
  • Bosch Service Solutions GmbH
  • ASSA ABLOY
  • ADT
  • Hytronik Industrial Limited

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