Residential Security Market Analysis by Top Regional Industry Players- Alarm.Com, Allegion PLC, etc.

It has been observed that increasing momentum of latest technologies such as IOT and excessive utilization of these systems are the major factors that are pertaining towards the growth of the global residential security market. Furthermore, other factors that are driving the growth of the market include swelling crime rates and less number of security workforces.

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The growth of this market is attributed towards technological advancements that provide extensive application due to automatic sprinklers and fire extinguishers. Improved security devices at affordable price ranges are developed due to technological upgradation and advancements.

Asia-Pacific is expected to witness the fastest growth of 11.0% during the forecast period in the residential security market, globally. The rapid growth of this market is accredited towards technological advancements, extensive adoption for connected technologies such as IOT, enhanced digitalization and increasing security material industries.

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Some of the key players operating in the global residential security industry include Bosch Security Systems Inc, Honeywell Security Group, Alarm.Com, Allegion PLC, Nortek Security & Control LLC, United Technologies Corporation, Ingersoll Rand, Control4 Corporation, and Godrej & Boyce Mfg. Co. Ltd.

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