Market Trends of APAC Home Security System Industry
This section covers the major market trends shaping the APAC Home Security System Market according to our research experts:
5G Will Drive the Adoption of Home Security Systems
- In May 2021, the Department of Telecommunications (DoT), Government of India, approved permissions to Telecom Service Providers (TSPs) for trials for the use and applications of 5G technology. The Government of India is taking active measures to bridge the digital divide by directing its efforts to bring 5G services. With ultra-low latency, 5G, the next-generation cellular technology, will impart faster and more reliable communication. The 5G services will act as a catalyst for new-age technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), and machine-to-machine communications, thereby supporting a much more extensive range of newer and improved forms of applications and use cases like facial recognition systems, connected home security appliances, and much more.
- In India, the increasing need to improve home security has propelled the implementation of AI-powered devices. Most home security appliances can be controlled remotely using smartphones. These devices encompass a variety of features, including threat analysis, facial recognition, and smart home integration, which, in turn, safeguards homeowners from security threats.
- There is a rapid increase in consumers onboarding the home security revolution in India. While convenience is one of the factors, security is the top feature Indians look for in a smart home offering with the help of 5G technology in smartphones. Video door monitoring, motion-sensing cameras integrated with night vision technology, smart alarms, digital locks, windows, and alarms are amongst the range of electronic gadgets aimed at enhancing the security of a house.
- According to Vibe smart homes, India's smart homes sector is expected to grow beyond USD 14 billion by 2026. Many households in India now have smart Internet of Things (IoT) enabled devices such as Amazon Alexa and Google Home, through which they can control their home security appliances with the help of smartphones. The data traffic exchanged between house security devices and smartphones will be higher. The information will be crucial for implementing improvements, preventing accidents, increasing efficiency, and managing resources, among other possibilities.
Understand The Key Trends Shaping This Market
Download Sample
Japan to Witness Significant Growth
- In Japan, the growth of the home security market is attributed to factors such as a significantly growing IoT market, cost reduction measures enabled by home automation systems, several manufacturers expanding their product portfolios, and the growing importance of home monitoring from a remote location. The smart access control systems in the current marketplace of Japan are dominated by solutions that utilize the fingerprint recognition system to identify the authorized people to allow them to access their homes.
- The physical security system, which includes CCTV surveillance, locks, access control, and fire protection, is expected to witness increased adoption over the forecast period in Japan. For instance, in January 2021, Hikvision announced the availability of HikCentral Professional. The software facilitates the remote monitoring of diverse, integrated physical security systems, including its facial recognition technology, from a centralized platform.
- HikCentral Professional is a truly integrated physical security platform. It combines the agility of a powerful video management system (VMS) and intelligent analytics with mission-critical security systems such as access control and video intercom systems to provide users with comprehensive management, control, and analysis solution. Hence, a huge untapped market opportunity for a physical security system to radically scale by leveraging a user's query to look deeper into the video surveillance feed.
- In July 2021, Idemia partnered with Shoden, a Japanese manufacturer of enterprise-grade systems and equipment, and Genetec Inc., a unified security solutions provider, to deploy 3D facial recognition access control, a part of physical security systems in Japan. The partnership will integrate Idemia's VisionPass device and the patented Genetec Security Center into Shoden's security infrastructure offering, which will be installed as part of the access control system for a large Japanese utility company.
Get Analysis on Important Geographic Markets
Download Sample
