A rise in crime rates and burglaries in commercial as well as residential complexes across the globe has intensified the adoption of security solutions. Moreover, since their introduction, smart home devices have witnessed a high adoption rate due to the ease of operations, interoperability and seamless experience. Due to this, people have gradually started transitioning towards smart homes. The continuous infrastructural development is a result of the high demand from end users for a seamless experience. This demand for smart home devices and the transition towards smart homes will have a significant impact on the growth of the DIY home security solutions market.
North America to grab a major portion of the global market pie
Owing to the growing crime rate in the region, North America has emerged as the leading region in terms of the adoption of DIY home security solutions. It has been further projected that the region will maintain its lead in the global market by the end of the forecast period. The growing use of DIY home security solutions in the region can be attributed to the increasing number of smart homes in the region. Given the need to preserve energy, people in the region are looking for solutions that consume less energy and also cater to their cost cutting needs. Moreover, the crime rates in the region have also taken a toll, thus spreading fear among people. Further, the inclination of people towards the use of inexpensive smart security products has impelled consumers to opt for DIY home security solutions.
Incessant innovation in the region is also expected to pay off well for the market in North America. Continuous innovations, expansions, and customization of products have enabled the operability of a DIY home security system via various devices other than smartphones or smartphone applications. DIY home security system manufacturers and providers have started introducing products that can be operated by video cameras, voice speakers, doorbells, etc. An additional advantage of adopting these DIY systems is that they have pre-defined features embedded in the products, for which an individual is not expected to pay extra unlike professional security systems. As a result of these factors, the penetration of DIY home security solutions in the region is expected to be high in the coming years.
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Europe to increase security systems integration in rented homes
Being a core tourist and education center, Europe is a hub for travelers and students alike. As a result, the number of rented apartments and houses is quite high in the region. Moreover, the region is famous for allocation among EU countries of people looking for jobs or for study purposes. Owners of certain rented houses are avoiding falling from the edge and are looking forward to enhance the security systems of their homes. As DIY home security systems are ideal for small and medium-sized residential spaces such as flats or apartments, system providers are focusing on catering to the respective audience mostly. Out of the above, the recent transitioning residential preference trend followed by the millennial population has made them a prime target of DIY home security system manufacturers. Furthermore, by tracking the recent purchasing drift of the millennial population, almost every DIY home security system provider is promoting and selling their products online, in spite of organized retail chains. This trend is also expected to give the market a much needed boost in the region.