Expected to reach a value of US$ 16,886.7 Million in FY 2022, the market for home security sensors is poised to take a turn for the better. According to an extensive study published by Future Market Insights, demand for home security sensors is forecast to flourish at a CAGR of 8.24% from 2022 to 2032. Furthermore, a valuation of US$ 37,279.7 Million has been anticipated for the market by 2032.
Home or residential security is among the major concerns in the present scenario. Because we can’t keep vigilant watch over our assets / properties at all times, security sensors do it for us, providing 24/7 protection against anything that threatens your most important assets.
The key reasons behind this is the alarming crime rates on the global basis. With regards to this, security sensors are expected to find potential opportunities in this market. The entry level of security sensors in the residential sector have been witnessing a rapid growth since the last few years.
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Home Security Sensor Market: Drivers and Restraint
There are several factors that can be attributed to this growth such as increase in-home burglary rates, attractive insurance policies to residents for the installation of security sensors, and growing number of smartphone and tablet users.
While each of these types of sensors plays a vital role in securing our home, each fills a specific need that the others do not. In the interest of gleaning the most thorough protection of your home, it makes sense to consider incorporating a combination of the different categories of sensors, which will layer your home’s safeguards and increase your overall security exponentially.
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Home Security Sensor market: Segmentation
There are a variety of security sensors in the market, but they fall into four main categories based on area of application:
door and window sensors
glass break sensors
boundary protection sensors
Security sensors by Product type are classified as:
Passive infrared (PIR)
Photoelectric beam sensors
Home Security Sensors: Region-wise Outlook
Asia-Pacific especially China & India, Brazil in Latin America as well as Russia are anticipated to have a significant growth in global home security sensors during the forecast period due to increase in disposable income and urbanization. Europe, followed by America has the largest share of global security sensors market due to the existence of majority of suppliers.
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Home Security Sensors: Key Players
Some of the few key players in global home security sensors market are: Omron Corporation, Pepperl+Fuchs GmbH, Rockwell automation, Inc., Honeywell, ABB, K.A. Schmersal Gmbh & Co. KG, Baumer, ifm efector, inc., Shanghai Pubang Sensor Co., Ltd. and Hytronik Industrial Ltd.
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