Advanced Home Security Systems Are The New Future Of Safe And Secured Living
Home Security Systems
Home burglary and other crimes are eventually increasing all over the world. There is need for advanced security systems rather than traditional security systems that are pretty outdated. These security systems are also adopted by the government, transportation, retail, banking & finance, education, industrial, energy & utility, sports & leisure, and healthcare. Security does not necessarily mean burglary. Fire protection system, integrated systems, Access Control Management and Medical Alert Systems are also home security systems, which are considered essential for any valuable private or public property. These security systems include keypad locks, biometric locks, magnetic strip locks, electric strip locks, electro mechanical door locks, wireless locks, sensors, cameras, panic buttons, fire sprinklers & extinguishers, and alarms.
The Home Security Systems Market was worth USD 45.58 Billion in 2018, it is estimated to be growing at an annual growth rate of approximately 10.40% to reach USD 74.75 Billion by the year 2023. Growing incidence of crime rates and rising number of burglaries are the principal reasons that necessitate the home security solutions.
According to a study conducted by Federal Bureau of Investigation, more than 58% of burglaries were took place after forceful entry into private or public properties. It was reported that, 1.7 Million homes were burglarized alone in the United States. Designing of sophisticated and efficient security systems, and user-friendly installation features allowed by wireless technology are the key factors that are expected to propel the market growth. Moreover, availability of remote monitoring with the help of smart mobile phones and other smart devices along with beneficial insurance policies are also predicted to drive the growth of the home security solutions market.
Cost of maintenance of the equipment, large initial investment and lack of awareness regarding technological enhancements are the factors that are likely to hinder the growth of the market. The strategies adopted by telecom providers & electrical distributors are the factors that will create significant development opportunities in the market. Fewer adoption rates of security solution systems are key market challenges faced by manufactures and important market players. Customer acquisition and retention are major issues that are expected to have great impact on the growth of the world home security solutions market.
Home Security Systems is future.
According to National Council for Home Safety and Security, only 17% of homes in United States have security systems integrated. While technology updated in wide range in last 10 years, The home security systems remained the same and abandoned for a while. But, presently there are major researches and advancements going on for the implementation of new technology as well as upgrading existing technology. Also, technological advancements are giving a chance for new industries to emerge in the market.
In United States, ADT and Samsung tied up and rolled out a DIY product called SmartThings. Innovative technologies such as Artificial Intelligence (AI) and other technologies are assuring security of homes. The new inventions of home alarms put you firmly in control, meaning the options for protecting your property and family are endless. You can remotely turn on an upstairs light when someone or something triggers the sensors in your garden from wherever you are or even turn your alarm on using your smart mobile phone whenever you realize you forgot to activate before locking up – these are the home security systems of the future. However, it is reportedly noted that, with the artificial intelligence taking over the existing methods of computing and other operations, home security is also be one the field that artificial intelligence will expand its legs in near future, which can give individuals safety and security at home as well as a boost for the market.
On the whole, the advanced security systems in the house will restrict the unauthorized entries and the loss of valuable assets along with the options to save the household resources when not in use.