|By Business Wire||
|November 23, 2012 12:47 PM EST||
Research and Markets (http://www.researchandmarkets.com/research/qd7vf2/global_home) has announced the addition of the "Global Home Security Solutions Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global Home Security Solutions market to grow at a CAGR of 8.9 percent over the period 2011-2015. One of the key factors contributing to this market growth is the increasing security concerns across the globe. The Global Home Security Solutions market has also been witnessing the transformation from a technology-driven to a consumer-driven industry. However, the lack of awareness with respect to advancements in technology could pose a challenge to the growth of this market.
Other vendors mentioned in the report are Alarm.com Inc., GE Security Inc., AMX Corp., Control4 Corp., GE Security Inc., Home Automation Inc., Icontrol Networks Inc. and Siemens Building Technologies AG.
Commenting on the report, an analyst from TechNavio's Engineering team said: ''The Global Home Security Solutions market has always been a technology-driven market and several security solution products were developed based on the advancement of technology. But this trend in the Global Home Security Solutions market is making a transition from developing technology-driven products toward customer-driven products. Large companies such as Honeywell International Inc., Tyco International Ltd., and Bosch Security Systems Inc. are developing security solutions products based on the needs and demand of the customers, which is available through various blogs, surveys, customer feedback, etc. Moreover, a few applications for home security solutions are also being developed by general tech-savvy people thus forcing the vendors to develop customer-driven products in order to increase their market share. Therefore, the transformation from a technology-driven to a consumer-driven industry will positively impact the growth of the market during the forecast period.''
According to the report, one of the major drivers is the increasing security concerns across the globe. Crimes such as home break-ins and burglaries have gradually increased, posing a serious threat to the personal safety of the residents. Home security solutions and products such as intrusion detection, access controls, surveillance systems, door contacts, and motion sensors will provide considerable security from various crime threats.
Further, the report discusses that one of the major challenges confronting the market is the lack of awareness with respect to advancements in technology.
For more information visit http://www.researchandmarkets.com/research/qd7vf2/global_home