Are you interested in starting a small business venture, and curious to know what industries look to be the most lucrative in the future? You might consider investing in the home security market.
According to a recent study performed by marketsandmarkets.com, researchers believe the home security market will grow from $28,318.69 million in 2014 to $47,542.52 million by 2020. The report was titled, “ Home Security Solutions Market by Product (Electronic locks, Sensors, Cameras), Solutions (Intruder Alarm, Intercom, Access Control, Fire Protection, Integrated Security, Video Surveillance & Others), Home Type, & Geography – Global Forecast to 2020.”
The press release , which BeON released to various outlets via wire, states that they are continuing to update their products and improve them for consumer’s wants and needs.
However, an article published on BusinessInsider.com in July of last year says that while the big wigs represent more than 90% of the market, there is room for growth in self-installed and self-monitored home security. Consumers will look to build loyalty with tech companies who begin producing home security. The data came from Citi.