North America Market to Observe Highest Growth This is chiefly because of growing installation of home security solution systems in independent homes as they are more vulnerable to theft, burglaries, and other crimes.
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The independent homes sub-segment of the end use segment is anticipated to grow significantly and garner $67,514.20 million during the forecast period. Independent Homes Sub-Segment to Contribute the Market Growth
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This growth is chiefly owing to the increasing costs and heavy installation charges involved in professional installation of home security systems.
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The do-it-yourself (DIY) sub-segment of the installation segment is anticipated to grow significantly with a CAGR of 10.98% in the forecast period. This growth is chiefly owing to the rising technological improvements and advancements by access control system manufacturers to satisfy the expectations of consumers and offer enhanced security and resilience against robbery, burglaries, and others.ĭo-it-Yourself (DIY) Sub-Segment to Perceive Augmented Growth The access control system sub-segment of the services segment is anticipated to grow at an accelerated pace with a CAGR of 11.8% during the forecast period. This growth is chiefly owing to rising adoption of services like professionally monitoring services, risk assessment & analysis, consulting & integration, and maintenance & support.Īccess Control System Sub-Segment to Experience Speedy Growth The service sub-segment of the type segment is anticipated to grow rapidly and hit $42,619.10 million during the forecast period. Service Sub-Segment to Observe Accelerated Growth The report segments the global home security solution market into type, services, installation, end use, and region.Ĭheck our more Post COVID-19 Impact on Home Security Solution Market. This is boosting the market growth in the pandemic period. Many people have installed home security solutions such as networked cameras, video surveillance installation, and video doorbells for securing their homes from theft and crimes. As a result, many people are investing their time and money in the modification and maintenance of their homes. The implementation of lockdown restrictions during the pandemic has forced people to stay in their homes.
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The abrupt rise of the COVID-19 pandemic in 2020 has had an optimistic impact on the growth of the global home security solution market.