Security Systems News

OCT 2018

Security Systems News is a monthly business newspaper that reaches 25,100 security installers, product distributors, central stations, engineers & architects, and security consultants. Our editorial coverage focuses on breaking news in all major se

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Page 6 of 32 Oct O ber 2018 S ec U r I t Y SYS te MS N e WS Security Stat S 2 By Spencer Ives PUNE, India—MarketsandMar- kets, a research firm based here, recently published a study on the global home security sys- tem market. Analysts talk with Security Systems News about k e y t e c h n o l o g i e s , g r o w t h predictions and potential mar- ket challenges. M a r k e t s a n d M a r k e t s v a l - ued the global home security systems market at $40.66 bil- lion in 2017 and expects it to reach $74.75 billion by 2023, at a CAGR of 10.4 percent from 2018 to 2023. MarketsandMarkets segment- ed the market into four geog- raphies: the Americas, Europe, Asia-Pacific, and the rest of the world. In 2017, the Americas geog- raphy was about $17.53 billion that year. By 2023, Marketsand- markets expects that the Amer- icas market will reach about $30.88 billion, at a CAGR of around 9.63 percent. T h e A m e r i c a s , i n 2 0 1 7 , was the largest geography for home security systems, with about 43.1 percent of the mar- ket share, Vaibhav Chaudhari, senior analyst in the company's semiconductor and electronics practice, told SSN. "In [the] Americas region, Canada is expected to be the fastest grow- ing market, with around 11.63 percentage of CAGR," he added. " O u t o f t h e f o u r [ m a i n ] geographies, A s i a - P a c i f i c would be the fastest grow- i n g m a r k e t , … around 12 p e r c e n t o f CAGR." MarketsandMarkets exam- ined a range of different prod- uct types, including fire detec- tion, video surveillance, access control systems and intruder alarms. "Currently, the video surveil- lance segment is the largest seg- ment, and the fastest growing segment currently is the access control system," Chaudhari said. MarketsandMarkets exam- ined the main factors driving growth for the home security system market, Rupesh Yelhek- ar, company research analyst, told SSN. "The major ones that we have located are technology developments in IoT and the wireless connectivity." Customer awareness has been an increasing factor for the mar- ket, Yelhekar added, "Because a lot of people from across the globe started acknowledging the importance of home security systems." He continued, "There is a major trend among the dif- ferent types of devices in the home securi- t y s y s t e m , that is: do-it- yourself, DIY home security systems. This p a r t i c u l a r device is very affordable in t h e m a r k e t and people who are looking for the affordable security solutions are opting for this." The report covers three cat- egories of systems: profession- ally installed and profession- ally monitored, self installed and professionally monitored system, and DIY installed and self monitored. The DIY market is expected to grow "at the highest CAGR of these three types," Chaudhari said, adding that the CAGR for this segment will be around Global home security system market to near $75 billion by 2023 Developments in Internet of Things a driving factor, according to recent MarketsandMarkets report Continued on next page V. Chaudhari R. Yelhekar No Servers. No Receivers. No PBX. No Telecom. No IT Headaches. Need a reliable cloud center? Take away the stress of maintaining your own equipment and systems. Operate web-based software - including event management, PERS, service, and sales packages - from anywhere, with zero capital. Our center is built on the industry's most advanced cloud-based receiver farms and uses the only alarm signal telecom network with no sunset in sight. You can relax knowing you've chosen DICE Corporation, the leader in automation software and infrastructure. Learn more about how our multiple UL-Listed cloud alarm centers give you the competitive advantage at DICE Corporation and the DICE Corporation logo are registered trademarks of DICE Corporation in the US and other countries. Copyright 2018 DICE Corporation. All rights reserved. 1.800.786.3423 | 989.891.2800 International Fully redundant and UL827a compliant

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