U.S. Market for Security Alarms Set to Reach $5B by 2021
Alarms market set for growth...
SECURITY and smoke alarm sales in the United States are forecast to increase 5.1 per cent annually to $US4.9 billion in 2021, according to a report titled “Security Alarms in the U.S. by Product and Market” published by Research and Markets.
Market gains will be driven by ongoing advances in construction activity, since new systems are generally installed during initial construction or major renovations. But the consumer market represents the largest share of alarm system sales, accounting for more than 40 per cent of demand in 2016. This increase largely stems from the role that life-safety alarms play in residential buildings, argues Research and Markets.
The consumer market also represents the largest single outlet for intrusion alarms. Affluent consumers with a greater asset base are more likely to invest in intrusion systems and elderly homeowners are more likely to invest in intrusion systems, as they tend to feel more vulnerable than younger people.
There’s also growth in demand for PERS alarms, used by older people who increasingly prefer to age in place. These alarms will see the fastest gains of any product segment, albeit from a much smaller base.
Advances in PERS will benefit from ongoing innovations in product features, ranging from improvements to mobile PERS (mPERS) devices for more active individuals to voice recognition and fall detection technologies in both mobile and at-home alarm models.