The Asia Pacific Home Security Systems Market would witness market growth of 10.0% CAGR during the forecast period (2022-2028).
The current generation of home security systems provides unrivalled connectivity, control, and accessibility, as well as the ability to remotely access a variety of capabilities via a PC or smartphone. Smart home security systems are becoming increasingly popular because of innovative capabilities like remote arming and disarming, watching saved video footage of various incidents, accessing household appliances, and tracking activities while away from the home, to name a few.
Increased security threats and breaches have resulted in a strong demand for better safety and security systems such as CCTV cameras, electronic alarm sensors, and other similar devices. This is expected to boost the manufacturing prospects for home security systems. Furthermore, increased urbanization and technological improvements have necessitated the development of improved security systems that can be tracked via cell phones.
Surveillance has become commonplace in most industrialized cultures, due to a boom in AI-powered facial recognition technology. A trial of facial–recognition software conducted by New Delhi police reportedly identified many missing children in just four days. China is exporting its AI-powered surveillance technology to authoritarian countries around the world while Western democracies establish restrictions to protect citizens from government and corporate data gathering.
The China market dominated the Asia Pacific Solution Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,702 million by 2028. The Japan market would exhibit a CAGR of 8.3% during (2022 - 2028). Additionally, The India market would witness a CAGR of 9.6% during (2022 - 2028).
Based on Component, the market is segmented into Solution (Video Surveillance System, Fire Protection System, Entrance Control System, Access Control System, and Intruder Alarm System) and Services (Security System Integration Services, Remote Monitoring Services, Fire Protection Services, Video Surveillance Services, and Access Control Services). Based on Home Type, the market is segmented into Condominiums/ Apartments and Independent Homes. Based on Security Type, the market is segmented into Professional-installed & Monitored, Self-installed & Professionally Monitored, and Do-It-Yourself (DIY). Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Home Security Systems Market is Projected to reach USD 96.5 Billion by 2028, at a CAGR of 9.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, Robert Bosch GmbH, ABB Group, Resideo Technologies, Inc., ADT, Inc., Assa Abloy AB, Allegion PLC, Snap One, LLC, Secom Co. Ltd., Hangzhou Hikvision Digital Technology Co., Ltd.
By Component
By Home Type
By Security Type
By Country
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