The Home Security Products and Solutions Market is segmented, By Products (Electronic Locks [Keypad Locks, Biometric Locks, Magnetic Strip Locks, Electric Strip Locks, Electromechanical Door Locks, Wireless Locks], Sensors, Cameras, 7.5 Panic Buttons, Fire Sprinklers & Extinguishers, Alarms), By Solution (Medical Alert System, Access Control & Management Solution, Intruder Alarm Solution, Intercom System, Video Surveillance Solution, Fire Protection System, Integrated Security Solution), By Home Type (Independent Homes, Condominiums, Apartments) and Region - (North America, Europe, Asia-Pacific, and Rest of the World).
The COVID-19 outbreak has moderately affected the home security products and solutions industry. The ongoing COVID-19 pandemic has negatively influenced the infrastructure development industry and so the product demand. This is mainly due to soaring coronavirus cases, implementation of stringent lockdown measures, and limited movement of people to curb the spread of the virus. Considering stringent government regulations, the construction and infrastructure development industry has suspended its operation, thus affecting the market growth.
Critical Questions Answered in the Report
- What are the key trends in the market?
- How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
- What is the impact of COVID-19 on home security products and solutions?
- What are the key strategies adopted by the major vendors to lead in the market?
- What is the market share of the top vendors?
The growing need for home security solutions has led to the entrance of home security service providers across the globe, positively boosting the product demand. Also, due to the increase in instances of safety concerns, the need for security measures by residential homes, the industry is expanding. Integrated home security systems enable monitoring of residences by connecting them to smartphones is an outcome of the emergence of smart homes, thus offering lucrative opportunities to the industry players.
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