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Home Security System Market size is set to grow by USD 25.8 billion from 2024-2028, growth of DIY home security systems to boost the revenue- Technavio

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NEW YORK, Nov. 26, 2024 /PRNewswire/ — The global home security system market  size is estimated to grow by USD 25.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.1%  during the forecast period.  Growth of diy home security systems is driving market growth, with a trend towards evolution of IoT. However, increasing instances of false alarms  poses a challenge. Key market players include ABB Ltd., ADT Inc., Alarm.com Holdings Inc., Allied Universal, Amazon.com Inc., August Home Inc., Canary Connect Inc., Cisco Systems Inc., Comcast Corp., EMERSON RADIO CORP., General Electric Co., Honeywell International Inc., Johnson Controls International Plc., Kuna Systems Corp., LG Electronics Inc., Ooma Inc., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Simplisafe Inc., TP Link Corp. Ltd., Vanderbilt International GmbH, and Xiaomi Communications Co. Ltd., Nortek Security & Control, ADT LLC, ASSA ABLOY, Vivint, Inc., Bosch GmbH, Arlo Technologies, Schneider Electric

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Video surveillance system, Alarm system, and Access control system), Distribution Channel (Offline and Online), Home Type ( Independent Home, Apartment, Condominiums), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

ABB Ltd., ADT Inc., Alarm.com Holdings Inc., Allied Universal, Amazon.com Inc., August Home Inc., Canary Connect Inc., Cisco Systems Inc., Comcast Corp., EMERSON RADIO CORP., General Electric Co., Honeywell International Inc., Johnson Controls International Plc., Kuna Systems Corp., LG Electronics Inc., Ooma Inc., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Simplisafe Inc., TP Link Corp. Ltd., Vanderbilt International GmbH, and Xiaomi Communications Co. Ltd., Nortek Security & Control, ADT LLC, ASSA ABLOY, Vivint, Inc., Bosch GmbH, Arlo Technologies, Schneider Electric

Key Market Trends Fueling Growth

The Home Security System market is thriving with trends such as wireless technologies, video surveillance systems, access control systems, and fire protection systems. These systems include smoke detectors, flame detectors, heat detectors, sprinklers, extinguishers, and fire alarms with sirens and control panels. Fire analysis software is also gaining popularity. Homeowners and building managers prioritize security against fire, smoke, carbon monoxide poisoning, water damage, burglary, and other threats. Artificial intelligence and machine learning are integral, reducing false alarms and detecting abnormal activities through video analytics and verification. Smart homes integrate IP cameras, home security devices, and IoT technology with intelligent monitors and sensors. High-speed network solutions ensure real-time surveillance capabilities. Access control systems secure sensitive information and assets with various methods like deadbolt locks, sliding glass doors, toggle locks, proximity access control, biometric access control, mobile access control, and wireless access control. The IoT market and home automation systems offer personal safety, video door surveillance, motion-detecting cameras, night vision technology, and intelligent alerts. Affordable solutions, insurance discounts, and personalization and expandability attract customers. However, monthly subscription fees, privacy concerns, and integration challenges remain challenges. 

The Internet of Things (IoT) revolutionizes home security systems by enabling communication between various devices within a network. This technology facilitates data transmission between smart devices such as thermostats, sensors, and wireless video surveillance systems. The integration of embedded software, hardware devices, communication services, and IT-related services enhances the efficiency of IoT. Homeowners can remotely monitor and manage multiple interconnected devices, including security cameras, through their mobile devices. IoT applications in home security include smart homes, where sensors detect intrusions and alert homeowners, and wireless video surveillance systems that transmit footage for immediate response. 

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Market Challenges

•         The Home Security System market faces several challenges in areas like wireless technologies, video surveillance systems, access control systems, and fire protection systems. Wireless technologies bring convenience but also potential security vulnerabilities. Video surveillance systems require video analytics and verification to reduce false alarms from abnormal activities. Fire protection systems include smoke detectors, flame detectors, heat detectors, sprinklers, extinguishers, and alarms, addressing fires and carbon monoxide poisoning. Burglary prevention involves smart homes, IP cameras, home security devices, and IoT technology. Access control systems ensure authorized person access through drawers, doors, and windows using deadbolt locks, sliding glass doors, toggle locks, proximity access control, biometric access control, mobile access control, and wireless access control. Integration challenges and privacy concerns arise with the increasing use of artificial intelligence, machine learning, and high-speed network solutions. Affordable solutions, insurance discounts, personalization and expandability, and monthly subscription fees are key considerations for homeowners. Crime rates and rising costs drive the need for advanced security features like video door surveillance, motion-detecting cameras, night vision technology, intelligent alerts, and electronic locks. ADT SMART Monitoring and other providers offer comprehensive solutions addressing these challenges. However, limited value perception and integration issues persist.

•         Home security systems play a crucial role in safeguarding properties and ensuring peace of mind for homeowners. However, their effectiveness relies on accurate and reliable alarm responses. Failure to detect intruders properly or accepting false alarms can lead to customer dissatisfaction and negative consequences. Nuisance alarms, caused by minor errors in sensor readings or application programs, can result in the operator ignoring genuine alarm conditions. False acceptance, where unauthorized users are incorrectly recognized, can lead to data breaches and fraudulent activities. To mitigate these risks, vendors must prioritize system accuracy and invest in technology and regular maintenance. Ensuring the security system functions optimally is essential to protect both the property and the reputation of the vendor.

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Segment Overview 

This home security system market report extensively covers market segmentation by

Product 1.1 Video surveillance system1.2 Alarm system1.3 Access control systemDistribution Channel2.1 Offline2.2 OnlineHome Type ( Independent Home, Apartment, Condominiums)Geography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Video surveillance system-  The home security system market experienced significant growth in 2023, with the video surveillance systems segment leading the way. These systems act as a crime deterrent, allowing homeowners to monitor their properties remotely via smartphones and other devices. Integration with smart home systems and advancements in technology, including wireless and IP video surveillance, have increased usability and affordability. Concerns over property crimes continue to drive demand for video surveillance solutions. The transition from analog to digital cameras is also contributing to market growth. Edge-based surveillance further expands accessibility for cost-conscious residential builders. In summary, the adoption of video surveillance systems is a major factor fueling the home security system market during the forecast period.

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Research Analysis

The Home Security System market encompasses a range of technologies designed to protect homes from various threats, including fire, burglary, and carbon monoxide poisoning. Wireless technologies play a significant role in this market, enabling seamless integration of devices and reducing installation costs. Deep learning algorithms enhance the functionality of security systems, enabling them to identify intruders and potential threats more accurately. Video surveillance systems are a crucial component of home security, providing real-time monitoring and recording capabilities. Access control systems offer an additional layer of security, allowing homeowners to control who enters their property. Fire protection systems, including smoke detectors, flame detectors, heat detectors, sprinklers, and extinguishers, are essential for safeguarding against fire hazards. However, the market also faces challenges such as false alarms, privacy concerns, and wireless networking vulnerabilities. Homeowners must balance the benefits of advanced security features with the potential risks and costs. Carbon monoxide poisoning and water damage are other hazards that home security systems can help mitigate, making them an essential investment for homeowners seeking peace of mind.

Market Research Overview

The Home Security System market encompasses a range of technologies and devices designed to protect homes and buildings from various threats. These include Wireless technologies, Video surveillance systems, Access control systems, Fire protection systems, and various detectors such as Smoke, Flame, and Heat. The market offers solutions for Fire alarms, Sirens, Control panels, Fire analysis software, and more. Home security systems provide protection against fires, smoke, carbon monoxide poisoning, water damage, burglary, and other potential hazards. Advancements in Artificial Intelligence (AI) and Machine Learning enable Home Security Systems to detect abnormal activities, false alarms, and provide intelligent alerts. The market also includes Smart Homes, IP cameras, Home security devices, and IoT technology. Access Control Systems ensure personal safety by controlling access to sensitive information, assets, and authorized persons. The market offers various types of locks like Deadbolt, Sliding glass doors, Toggle lock, Proximity access control, Biometric access control, Mobile access control, and Wireless access control. Home Security Systems also include Surveillance cameras, IoT market, Home automation systems, Personal safety, Video door surveillance, Motion-detecting cameras, Night vision technology, and Intelligent monitors. The market faces challenges such as Integration Challenges, Limited Value Perception, Monthly Subscription Fees, Privacy Concerns, and Rising Crime Rates. However, it also offers Affordable Solutions, Insurance Discounts, and Personalization and Expandability. The market is growing with the adoption of Wireless networking, High-speed network solutions, and the increasing demand for Home Security Systems due to Crime rates.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductVideo Surveillance SystemAlarm SystemAccess Control SystemDistribution ChannelOfflineOnlineHome Type ( Independent Home, Apartment, Condominiums)GeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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IRIS Software Group Announces Intent to Acquire Dext Software Ltd.

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Acquisition to create an integrated, end-to-end solution, advance partner integrations, and drive product innovation for accountants and businesses globally 

LONDON, Dec. 3, 2024 /PRNewswire/ — IRIS Software Group (IRIS), a leading global provider of accountancy, education management, HR and payroll solutions, today announced a definitive agreement to acquire Dext Software Ltd (Dext), a leading bookkeeping automation platform provider. The acquisition will unite two sector-leading cloud-based platforms – Dext’s Bookkeeping Automation Platform and IRIS Elements – to deliver a complementary and fully integrated, end-to-end solution for accountants, bookkeepers, and businesses. 

On one side of the accounting value chain, IRIS Elements supports accountants and businesses with practice management and compliance functionality, such as accounts production and tax returns. On the other, Dext simplifies bookkeeping and improves productivity by automating routine tasks with AI. Together, both companies will cover the entire end-to-end accountancy workflow, from data entry and processing to compliance, reporting and advisory services. 

Currently, many accountants and businesses face “app fatigue” juggling multiple, disconnected tools to get their daily work done. Through integration, IRIS and Dext’s cloud platforms will connect seamlessly with a secure single sign-on (SSO) and share data effortlessly back and forth across both platforms. This will, effectively, create a single, end-to-end view of the entire accountancy workflow. By expanding the global digital footprint in countries like the UK, Canada, France and Australia, the acquisition will also support accountants in staying ahead of rapidly evolving global regulatory and compliance requirements. 

Commenting on the agreement, Elona Mortimer-Zhika, CEO of IRIS Software Group said, “With today’s exciting news, we are bringing together our amazing customers, partners, and employees to drive the future of tech in the accountancy industry. We are doubling down on our promise to build and offer the most compliant cloud solutions that deliver our customers the highest levels of productivity and engagement, giving them back the critical time they need to advise their clients, grow their businesses, and do what they love. Accountancy has been the heartland of IRIS for 46 years; together with Dext we have a shared passion to be the biggest supporters and best champions of accountants, globally.”

The transaction will allow IRIS to accelerate Dext’s product roadmap, infuse additional capital and enhance its partner integration program, which already connects to over 35 bookkeeping software platforms and over 11,500 banks & financial institutions. Both IRIS and Dext share a general ledger (GL)-agnostic strategy, ensuring their platforms can integrate with a wide array of accounting software and every bookkeeping provider – connecting multiple workflow streams and providing customers with unparalleled freedom of choice. Accountants and bookkeepers will have the flexibility to use their preferred bookkeeping tools while enjoying the benefits of a smooth, cohesive user experience. 

Sabby Gill, CEO of Dext added, “Joining forces with IRIS marks an exciting new chapter for Dext. This partnership enables us to accelerate our product innovation, deepen our integration program, and deliver a complete, end-to-end solution to our customers. I look forward to working alongside the IRIS team to unlock new opportunities for our customers and offer our team members expanded opportunities for personal and professional growth.” 

Upon closing, Sabby Gill will form part of the IRIS Global Executive team. The transaction is subject to customary closing conditions and is expected to be finalised by the end of this calendar year.  

Media contact:   
IRIS Software Group  
news@irisglobal.com  

About IRIS Software Group 
Founded in 1978, IRIS Software Group is a global provider of mission critical, cloud-hosted software solutions and services to more than 100,000 customers across 135 countries. IRIS is a trusted partner to businesses, finance, HR and payroll teams, educational organisations, and accountancy firms of all sizes, providing innovative operational solutions that streamline complex processes, maintain compliance, and unlock growth. Through simplifying, automating and providing insights on everyday mission critical tasks for organisations of all shapes and sizes, IRIS ensures customers can look forward with certainty and confidence. IRIS is certified as a 2024 Great Place to Work® in the UK, Ireland, India, Romania, Canada and the USA. Follow IRIS on Facebook, TwitterInstagram and LinkedIn. More information on its award-winning software solutions can be found here.    

About Dext
Dext is the leading provider of bookkeeping automation, empowering businesses, accountants, and bookkeepers to thrive through innovative technology that simplifies accounting processes and drives smarter, more timely financial decisions. With financial data extraction accuracy of 99.5%, Dext has been trained on over 1 billion receipts and invoices.

Trusted by 12,000 accounting and bookkeeping firms and 700,00 businesses, Dext seamlessly integrates with most major accounting software and connects to over 11,500 banks, suppliers, and marketplaces worldwide. To date, the company has saved bookkeepers more than 35 million hours of manual data entry. As the global leader in bookkeeping automation, Dext maximizes efficiency and boosts productivity, liberating its customers to focus on what truly maters to them.

Dext was awarded the 2024 Xero Small Business App of the Year in both the UK and the US, plus Best Accounting and Pre-Accounting Specialists 2023 at the Worldwide Finance Awards 2023.

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SOURCE IRIS Software Group

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AC Health makes critical HIV care more accessible to Filipinos with USAID support

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MANILA, Philippines, Dec. 3, 2024 /PRNewswire/ — Ayala Healthcare Holdings, Inc. (AC Health), in partnership with the U.S. Agency for International Development (USAID), is leading the private sector’s efforts to fight the HIV epidemic in the Philippines by improving access to stigma-free care and lifesaving services.

The partnership was sealed in time for World AIDS Day, whose theme “Collective Action: Sustain and Accelerate HIV Progress,” underscores the importance of collaboration to overcome this health challenge.

AC Health will leverage its unique ecosystem to develop, test, and scale approaches to improving and expanding HIV care and prevention services in the Philippines. AC Health will onboard qualified health service providers on the KonsultaMD platform and expand HIV awareness and screening services beyond health facilities. It will also import essential medicines and other lifesaving technologies through units IE Medica and MedEthix and make these commercially available through Generika Drugstore.

An important ally in the Philippines’ fight against HIV, USAID will support community engagement, provide technical assistance to Healthway Medical Network, and introduce private sector models for HIV service delivery. USAID will also train healthcare providers, share research, expand telehealth access through KonsultaMD, and coordinate with partners to provide free HIV self-testing kits.

“Our mission at AC Health is to make quality and affordable healthcare accessible to more Filipinos. Through our partnership with USAID, our dedicated teams at Healthway Medical Network, KonsultaMD, and Generika Drugstore have been equipped with specialized training to serve key populations affected by HIV. This collaboration brings us closer to bridging gaps in HIV prevention and testing, ensuring these critical services reach more communities nationwide,” said AC Health Chairman Fernando Zobel de Ayala.

The partnership is a key initiative to support the Philippines in addressing one of the fastest-growing HIV epidemics in Southeast Asia. AC Health’s participation also highlights its growing role in responding to public health challenges in the country.

AC Health, in partnership with Publicis Groupe Philippines and the People Management Association of the Philippines, is also leading the “Working with Cancer Pledge” in the country. This initiative is a global movement to raise awareness and support for people struggling with cancer in the workplace. Since its launch in 2023, hundreds of companies globally have been transformed into inclusive workplaces for employees dealing with cancer. 

AC Health, a wholly-owned subsidiary of Ayala Corporation, aims to provide every Filipino accessible, affordable, and quality healthcare. Its portfolio includes Generika Drugstore, the pioneer in generic retail pharmacies; St. Joseph Drug, a leading retail drugstore chain in North Luzon; IE Medica and MedEthix, a major pharmaceutical importer and distributor; Healthway Medical Network, a network of multi-specialty clinics, ambulatory centers, and full-service hospitals; and KonsultaMD, a healthcare aggregator app that offers online consultations, medicine delivery, and clinic and diagnostic booking. Through its three pillars—pharma, hospitals and clinics, and digital health—AC Health creates a seamless and integrated healthcare ecosystem for the Filipino patient.

About Ayala Corporation

For 190 years, Ayala Corporation has been building businesses that enable people to thrive.

Ayala, currently one of the largest conglomerates in the Philippines, has meaningful presence in real estate, banking, digital solutions, and renewable energy. It likewise has a growing presence in healthcare, mobility, and logistics as well as investments in industrial technologies, education, and other ventures. Ayala manages its corporate social responsibility initiatives through Ayala Foundation.

Visit our website at https://ayala.com and by follow us on LinkedIn to learn more about the company.  

 

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SOURCE Ayala Healthcare Holdings, Inc.

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CLAIRE’S CONTINUES MOMENTUM IN BEAUTY WITH THE INTRODUCTION OF C BY CLAIRE’S

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The exclusive, new collection of luxurious body care and fragrances is inspired by and tailored to Gen Zalpha’s everyday lifestyles

HOFFMAN ESTATES, Ill., Dec. 3, 2024 /PRNewswire/ — Global fashion brand Claire’s is continuing its evolution within the beauty category with the launch of C by Claire’s, an exclusive line of fragrances and body care products designed to help Gen Zalpha feel their most confident. Building on the success of Claire’s existing body care product collection, the new line gives consumers even more bespoke scents to love and furthers Claire’s impact in the category.

The new collection features luxurious foaming moisturisers, bath and body scrubs, fragrances, hair and body mists, and more, meeting consumers’ demands for beauty products that help them feel empowered in the same way that the brand’s signature fashion accessories have for over 50 years. C by Claire’s is crafted with high-quality ingredients in delightful, original scents like Cherry Bliss, Cloudberry Fizz, Watermelon Kiss, and Salted Caramel, with many catering to the growing gourmand scent trend. Each product is presented in vibrant packaging that reflects the bold, expressive spirit of Claire’s and its consumers.

A marquee of this collection, Claire’s is introducing an all-new signature fragrance, aptly titled “Be The Most” in a nod to the brand’s platform rooted in self-expression. The fragrance boasts a delicate blend of pistachio, vanilla musk, silky sandalwood, and Italian citrus, ideal for both everyday wear and special occasions.

“At Claire’s, we continually seek innovative ways to engage with our consumers and provide the products, categories, and experiences that excite them,” said Meghan Hurley, VP of Marketing at Claire’s. “We know beauty is a space that our Gen Zalpha consumers are passionate about, and we’re thrilled to give them another avenue to express themselves through this new collection.”

Supporting the collection is Claire’s CGI-centric Christmas campaign which comes to life across the brand’s retail, digital and social channels spotlighting Claire’s as the ultimate destination for the gift-giving season across jewellery, toys, tech and more. In time for the festive season, the line also includes gift sets and a “7 Days of Claire’s” advent calendar with daily surprises that are sure to delight.

C by Claire’s is the latest launch in Claire’s evolution into a full-fledged Gen Zalpha lifestyle brand. Priced from £12.00 to £25.00, C by Claire’s is now available in stores and online at Claires.com and will further expand with new products to love, offering even more reasons to shop at Claire’s. Follow along @Clairesstores to stay in the know on the latest collections, style tips, and more.

About Claire’s Holdings LLC
Claire’s Holdings LLC is a fully integrated, global fashion brand powerhouse committed to inspiring self-expression through the creation and delivery of exclusive, well-curated products and experiences. For over 50 years, Claire’s has been a destination for the curious, creative and influential and an industry-leader in ear piercing services, delivering a trendsetting assortment of fashion products and accessories that help young people worldwide style and define themselves. Through its global brands, Claire’s® and Icing®, the company delivers an immersive, omnichannel shopping experience with owned and concession stores throughout North America and Europe as well as franchise stores in the Middle East and South Africa. More information regarding Claire’s is available at corporate.claires.com.

MEDIA CONTACTS
Katie Settle, Katie.Settle@claires.com

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