Home security system is a network of integrated electronic equipment that are designed for detecting as well as defending against burglar activities or any other intrusion. The hardware of home security system includes doors, alarm systems, motion detectors, security cameras, lighting, locks, etc. A home security system helps to secure all the entry points by deploying sensors that are linked with the control panel. Further, every activity is captured by the security cameras and can be monitored over the control panel. Over the years, the rise in crime rates, house intrusion and burglaries in North America has influenced the demand for home security systems in the region. According to the latest report by IMARC Group, titled “North America Home Security System Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the North America home security system market reached a value of US$ 4.8 Billion in 2018, exhibiting a CAGR of 22.4% during 2011-2018.
One of the primary factors catalysing the growth of the North America home security system market is the evolution of new and improved system technologies. Increasing research and development has paved way for internet of things, remote monitoring as well as home automation. Moreover, the revival of constructional activities, particularly in the residential sector, acts as another factor facilitating the demand for home security systems. Improving network infrastructure coupled with broadband and internet penetration has further been proactive in maintaining the market growth. Looking forward, the market value is projected to reach US$ 14.1 Billion by 2024, registering a CAGR of 19.7% during 2019-2024
This report provides a deep insight into the North America home security system market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America home security systems market in any manner.
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