Strategy Analytics' research and analysis of the market for interactive security in Western Europe and the US concludes that a robust market is developing to expand home security beyond consumers who traditionally subscribe to such services.
Interactive Home Security Ramps Up - The US Market vs. the Western European Market. (PRNewsFoto/Strategy Analytics, Inc.)
Analysis of the $6 billion market for home security in Western Europe points to a dramatic shift in spending from traditional to interactive security with its remote monitoring and control capabilities. Home security market leader Securitas Direct launched its Verisure platform and SFR, Swisscom and others introduced services to capitalize on the opportunity. Security with home automation capabilities will hit $1.6 billion and account for over 26 percent of total security revenues in the region by 2018 according to Strategy Analytics' Smart Home Strategies (SHS) advisory service report, "Interactive Security: Market Outlook and Competitive Landscape." In the US, interactive security will hit $10 billion and account for over 40 percent of total security revenues by 2018.
"The home security market is larger in the North America than Western Europe, but we've detected robust interest and willingness to pay for professionally monitored security, as well as, remote monitoring and control in Western Europe," commented Bill Ablondi, Director, Smart Home Strategies advisory service and author of the report. "However, the picture is different for remote, self-monitoring and control. The Western European market will hit $2.9 billion by 2018, higher than the $2.7 billion we project for the US market.
The report also discusses the results of a major survey and segmentation analysis of consumers in France, Germany, Italy, the UK and US determining how many are willing to pay for these interactive services. In addition to market forecasts for France, Germany, Italy, Spain and the UK and the rest of Western Europe and the US, a competitive analysis of major participants and their offerings in both regions is provided.
The market for interactive security in the US will surpass that for traditional security systems in 2017 and reach $10.3 billion by 2018. In Western Europe the security market is smaller, but there will be a dramatic shift in spending from traditional to interactive security as it grows at nearly 20% annually from 2013 to 2018 reaching $1.6 billion by that time.
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