LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global residential and commercial security market to grow at a CAGR of over 11% during the forecast period, according to their latest market research report.
The continuous development of new products is one of the major trends being witnessed in the global residential and commercial security market 2018-2022. The constant development of new products by the vendors that are investing heavily in R&D is a major trend in the market. new product developments by some security solution vendors will encourage other vendors also to come up with innovative security products and services to remain competitive in the market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global residential and commercial security market is the increase in the number of potential threats for residential and commercial end-users:
Global residential and commercial security market: Increase in the number of potential threats for residential and commercial end-users
There is a very high rise in the number of potential threats for residential and commercial end-users, which has increased the requirements to maintain a high physical safety infrastructure. This includes the security of a building as a whole as well as the individual systems of each building. In the case of residential end-users, there is a surge in the instances of criminal activities, theft, and unauthorized access.
According to a senior analyst at Technavio for research on homeland security, “Several of the residential buildings are being equipped with a special platform, which will help residents remotely control the electric devices at home using smartphones, tablets, and laptops. This includes security solutions such as intruder alarms, electronic locks, and various monitoring solutions.”
Global residential and commercial security market: Segmentation analysis
The global residential and commercial security market research report provides market segmentation by product (surveillance systems, access control systems, and software), by end-user (commercial and residential), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The surveillance systems segment held the largest market share in 2017, accounting for nearly 56% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 43%. The region is expected to dominate the market through 2022, however, there will be a decrease in its market share.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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