Automotive and Transportation Residential Security Market | Page 2

Residential Security Market
The study reveals that the global residential security market is estimated to reach $60,765.2 million by 2023. On
account of significant advancement in technologies such as Internet of Things (IoT), adoption of cloud based
security technologies and rapid increase in demand for advanced security solutions, such as alert systems and
wireless locks, the global residential security market is gaining traction.
Insights on market segments
As per the findings of the research, security cameras have been the largest market among residential security
products. Further, security camera segment is expected to continue its highest revenue contribution during the
forecast period. Security cameras are one of the fundamental devices for residential security, which are sought
by everyone looking to immune their abode against security threats. Among various solutions, audio visual
surveillance segment witnessed the highest growth in demand during 2013-2016. However, home integrated
security segment is expected to lead the market with highest growth rate, during the forecast period.
P&S Intelligence