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CHICAGO, May 20, 2022 /PRNewswire/ — According to the new market research report “Home Security Systems Market by Home Type (Independent Homes, Apartments), Security (Professionally Installed & Monitored, Do-It-Yourself), Systems (Access Control Systems), Services (Security System Integration Services), Region – Global Forecast 2027” , published by MarketsandMarkets™, the global Home Security Systems Market size is expected to grow from USD 56.9 billion in 2022 to USD 84.4 billion by 2027, at a CAGR of 8.2% during the forecast period.
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The growth of the home security systems market is driven by factors such as growing awareness regarding home security systems and the emergence of the Internet of Things (IoT) and wireless technologies.
Do-It-Yourself (DIY) security market to grow at a high rate from 2022 to 2027
The market for Do-it-Yourself (DIY) security systems is expected to grow at the highest CAGR during the forecast period. A significant customer base of home security systems prefer cost-effective products with a remote monitoring facility to optimize as per their security requirements. In the DiY product category, users can save a large amount of money spent on consulting and installation services. Some of such security systems can be customized and upgraded with additional features by customers as and when they require. Thus, with DIY option suitable for many customers, its adoption is expected to drive the growth of home security systems market.
Video Surveillance Systems to hold the largest share of the market by systems in 2022
The video surveillance systems segment is expected to hold the largest …
Full story available on Benzinga.com
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