ATV and UTV Market Research Report
Global ATV and UTV Market Size, Share, Value, Growth & Trends Analysis Report by Vehicle (ATV and UTV), By Application (Sports, Agriculture, and Others)
The GMI Research expects the home security system market to expand at a higher rate. From a regional perspective, North America is projected to grow at a higher CAGR due to the growing concerns regarding safety among consumers, the increasing urbanizations, and the rising adoption of smart devices.
Some of the major factors propelling the growth of the home security system market include the high adoption of smart home devices, the growing awareness among the people related to home safety, and the rising number of smart cities. Moreover, the emerging trend of IoT, along with the rising penetration of mobile devices, such as laptops, smartphones, and tablets, and the enhancement in broadband and network infrastructure, will further fuel the growth of the home security market size.
Various benefits provided by advanced home security systems include user-friendly installation feature, detection of anomalous activities, improved video verification and surveillance capabilities, availability of remote monitoring through mobile devices, and fewer chances of false alarms with the incorporation of AI combined with machine learning in the alarm system is predicted to stimulate the growth of the market. Additionally, the growing cases of crimes and the rising burglary rate are projected to surge the adoption of home security systems across the world. As per a report of the UNC Charlotte of Criminal Justice, around 60% of the burglars consider the strong presence of cameras or other video equipment before entering a residential property, and about 40% of burglars look for another target in the presence of surveillance cameras. This factor will accelerate the growth of the home security system market share in terms of revenue. According to the home security system market forecast, the increasing initial investment and high maintenance and operational cost of the home security equipment will hamper the market growth. On the other hand, the factors hindering the growth of the market include limited awareness associated with the benefits of the home security system.Home Security System Market’s leading Manufacturers:
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