Press Release Description

Proliferation in Government Initiatives Projected to Spur the Growth of the APAC Home Security Market During 2020-25

The burgeoning infrastructural activities in the APAC region, extensive technological advancement in the home security system, and increasing penetration of home security products in the countries such as China and India are among the factors proliferating the Asia-Pacific Home Security market at an exponential rate. Further, surging investment in high-end home security solutions among the customers due to an increase in disposable income, a spur in the crime rate, and considerable demand for home security devices in smart home are anticipated to promulgate the growth of Asia-Pacific Home Security market in the forecast period.
 
According to MarkNtel Advisors’ research report titledAPAC Home Security Market Analysis, 2020”, the APAC Home Security market is anticipated to grow at a CAGR of around 11% during 2020-25. Based on offering, solutions segment acquired the highest market share in the Asia-Pacific Home Security market in 2020. Video surveillance segment accounted for a considerable market share in the solutions segment due to propelling crime rate and introduction of new video surveillance products in countries such as India and China. However, in the wake of COVID-19, the demand for video surveillance cameras augmented in China as these were deployed outside the homes of people under self-quarantine to monitor them efficiently. Hence, this is anticipated to further propel the demand for video surveillance in the forthcoming years.

“APAC Home Security Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Home Security providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.       

China Exhibited a Majority Market Share
China acquired the majority market share in the APAC Home Security market in 2019. China consists of eight of the world's 10 most surveyed cities based on the number of cameras per 1,000 people. Besides this, the surging crime rate, launch of technologically advanced home security solution and the COVID-19 outbreak has accelerated the demand of home security solutions in the country. Thus, this is strongly contributing toward the market growth of the Home Security market in the forthcoming period as stated in the MarkNtel Advisors’ research report “APAC Home Security Market Analysis, 2020”.  

According to MarkNtel Advisors, the key players with a considerable market share in the APAC Home Security market include ADT, Johnson Control, ABB, Legrand, Schneider Electric, Nortek, Robert Bosch, Assa Abloy, Hikvision, Honeywell etc.

Market Segmentation:
1.    By Offering (Solutions (Fire Protection, Video Surveillance, Access Control, Entrance Control, Intruder Alarms), Service (managed service, professional service)) 
2.    By Applicant (Independent Homes, Apartment & Condominiums)
3.    By Country (China, Japan, South Korea, Australia, India), 
4.    By Company (ADT, Johnson Control, ABB, Legrand, Schneider Electric, Nortek, Robert Bosch, Assa Abloy, Hikvision, Honeywell etc.)

Key questions answered in the study:
1.    What are the current and future trends of the Home Security industry? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    How the competition has been shaping across the countries followed by their comparative factorial indexing?
4.    What are the key growth drivers and challenges for the Home Security industry?
5.    What is the customer orientation, purchase behavior, and expectations from the Home Security firms across various regions? 

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