The global residential security market is projected to become USD 63.4 billion by 2024 and is expected to witness a CAGR of 8.1% during the forecast period. Residential security system develops secure and safe environment for the household that helps in improving the security environments for the complete area.  It has been observed that increasing momentum of latest technologies such as IOT and excessive utilization of these systems are the major factors that are pertaining towards the growth of the global market. Furthermore, other factors that are driving the growth of market include swelling crime rates and a smaller number of security workforces.

The residential security market, on the basis of product, is segmented into security cameras, smart locks, fire sprinklers & extinguishers, sensors and security alarms. Among all these product categories, security cameras have been generating largest revenue and is expected to witness a CAGR of 9.1% during the forecast period. The increasing market revenue of this segment is attributed towards increasing adoption of security cameras for generating secure and safe residential surroundings with the help of superior quality visual and audio surveillance.

Explore Full Report Description At: https://www.vynzresearch.com/ict-media/residential-security-market 

Among all the type of products, security cameras have been estimated result in the largest revenue throughout the estimated period and is further expected to witness a CAGR of 9.1% during the forecast period. The growth of this segment is attributed towards the benefits availed to the users such as motion detectors that provide notifications and alerts to its users wherever a suspicious event is witnessed by it. Of all the solutions offered by key players in the market, audio-visual surveillance solution held the largest share of around 23% in 2017 in the residential security market, globally.

Geographically, Asia-Pacific is expected to witness fastest growth of 11.0% during the forecast period in the residential security market, globally. The rapid growth of this market is accredited towards technological advancements, extensive adoption for connected technologies such as IOT, enhanced digitalization and increasing security material industries. Moreover, it has been observed that North America is expected to contribute largest revenue of USD 25.1 billion by 2024.

Download Free Report Sample At: https://www.vynzresearch.com/ict-media/residential-security-market/request-sample

Globally industry players are leveraging market growth through consistently advancing their offerings in accordance to the rapidly changing needs and demands of the customers. Some of the key players operating in the global residential security industry include Bosch Security Systems Inc, Honeywell Security Group, Alarm.Com, Allegion PLC, Nortek Security & Control LLC, United Technologies Corporation, Ingersoll Rand, Control4 Corporation, and Godrej & Boyce Mfg. Co. Ltd.

About VynZ Research : 

VynZ Research is a global market intelligence company providing research reports, industry intelligence and business advisory services to companies and institutions across the globe. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as chemical and materials, automotive and transportation, energy and power, consumer goods, healthcare, ICT and other emerging technologies.

Contact

VynZ Research USA
165 Broadway, 23rd Floor,
New York City, New York – 10006
United States of America
Toll-Free:1-888-253-3960
Website: https://www.vynzresearch.com
Email: [email protected]
Connect With us: Linkedin | Twitter |Google | Facebook

Tags: Residential Security Market, Residential Security Market Analysis, Residential Security Market Demand, Residential Security Market Development, Residential Security Market Growth, Residential Security Market Share, Residential Security Market Size, Residential Security Market Trends