Home security refers to the measures adopted by consumers for the prevention and detection of criminal activities using electronic equipment. This equipment is used for video surveillance, access control, detection, monitoring, and control of unwanted entry in residences. The enhanced security needs of customers, and managed security solutions emerging as an affordable option are some of the driving factors of the market.
Home security solutions address key concerns of consumers, such as home intrusions, burglary, and other property security issues by providing state-of-the-art technology with enhanced equipment and intelligent operations.
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Service providers entering the home security industry have addressed the limitations that had kept them from broaching the mass market. Issues such as installation complexities, technical glitches, maintenance, troubleshooting, and modifications, which are generally faced by consumers, are addressed by managed security service providers. This not only helps consumers find a reliable brand name of their choice, but also a single point of contact to address all of their queries and concerns in the long run.
Based on region, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is considered to be the major market in residential security systems with extensive adoption of technically advanced home security solutions in the U.S. and Canada. Demand for home security solutions continues to grow in the region with the recovery in residential construction activities and improvement and renovation activities in residential infrastructure.