Advancements in Smart Home Solutions To Drive Residential Security System Demand

Rapid advancements in smart security technology have resulted in the large-scale adoption of residential security products across the world. The deployment of new smart security solutions in residential structures allows end users to exercise more control over their property. Additionally, these solutions also facilitate energy savings.

The increasing adoption of advanced security solutions will, therefore, help the residential security market advance at a CAGR of 8.7% during 2017–2023. According to P&S Intelligence, the market will generate $60,765.2 million revenue by 2023. In recent years, the emergence of wireless technologies has become a prominent trend, because they facilitate easy installation of complex home security systems.


Wireless home security solutions offer improved service to occupants, by providing more accessible monitoring points than wired security systems. Furthermore, the soaring popularity of do-it-yourself (DIY) residential security solutions will also offer ample growth opportunities to market players. DIY systems are easy to install and maintain and they are available at affordable costs.

In contemporary times, independent house and apartment owners have focused on deploying security cameras, security alarms, sensors, fire sprinklers and extinguishers, and smart lockers, such as biometric locks, electric door locks, keypad locks, and wireless locks in their properties to increase the security of the premises.

In the last few years, security cameras were adopted in the highest quantity due to the surging crime rate around the world. Security cameras provide a safe and secure residential environment by recording all the activities in the vicinity.

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