Technology

US Interactive Residential Security Market to Grow by USD 2.97 Billion (2024-2028), Rising Crime Rates and AI Innovations Drive Market – Technavio Report

Published

1 week ago

September 12, 2024

NEW YORK, Sept. 12, 2024 /PRNewswire/ — Report with market evolution powered by AI- The interactive residential security market size in US is estimated to grow by USD 2.96 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.26% during the forecast period. Rising crime rates across US is driving market growth, with a trend towards increasing focus of vendors on new product launches. However, high initial costs related to interactive residential security solutions poses a challenge. Key market players include ADT Inc., Alphabet Inc., AT and T, Comcast Corp., Cove Smart LLC, East West Manufacturing, Frontpoint Security Solutions LLC, Honeywell International Inc., Leviton Manufacturing Co. Inc., LG Electronics Inc., Link Interactive, Monitronics International Inc., NETGEAR Inc., Nice SpA, Nortek Security and Control LLC, Ring LLC, Samsung Electronics Co. Ltd., Scout Security Ltd., Simplisafe Inc., Somfy Group, Vivint Inc., and Wyze Labs Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Interactive Residential Security Market In US Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 10.26%

Market growth 2024-2028

USD 2967 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.06

Regional analysis

Performing market contribution

North America at 100%

Key countries

US and North America

Key companies profiled

ADT Inc., Alphabet Inc., AT and T, Comcast Corp., Cove Smart LLC, East West Manufacturing, Frontpoint Security Solutions LLC, Honeywell International Inc., Leviton Manufacturing Co. Inc., LG Electronics Inc., Link Interactive, Monitronics International Inc., NETGEAR Inc., Nice SpA, Nortek Security and Control LLC, Ring LLC, Samsung Electronics Co. Ltd., Scout Security Ltd., Simplisafe Inc., Somfy Group, Vivint Inc., and Wyze Labs Inc.

Market Driver

The interactive residential security market in the US is witnessing significant growth due to vendors’ increasing focus on new product development. As competition intensifies and consumer expectations evolve, companies are investing heavily in creating innovative security solutions to differentiate themselves and capture market share. This new product development includes integrating advanced technologies such as AI and machine learning for enhanced threat detection and improving system compatibility with smart home ecosystems for greater convenience and control. For instance, Brinks Home, a leading home security and alarm monitoring company, introduced Vacation Watch and Package Detection features in August 2024. Vacation Watch allows users to create temporary rules for automatic recording during their absence, while Package Detection alerts homeowners upon package delivery and retrieval, providing video clips for identification. In May 2022, Vivint unveiled a suite of new products, including the Doorbell Camera Pro, Outdoor Camera Pro, Spotlight Pro, and Indoor Camera Pro, each integrating with Vivint’s AI platform and offering advanced functionalities. Such new innovations by vendors will continue to drive the growth of the interactive residential security market in the US during the forecast period.

The Interactive Residential Security market in the US is thriving, with a focus on advanced safety measures for homes. Security systems are becoming smarter, featuring energy-saving solutions and low consumption wireless technology. Miniaturized sensors and cameras enable DIY installation, while home automation integrates security with other smart devices. Video Surveillance Systems, Alarm Systems, Access Control Systems, and Fire Protection Services are in high demand. Internet usage and cloud services are essential for remote monitoring and cybersecurity. Security concerns include theft and robbery statistics, particularly for single-parent families. Smart City projects are exploring integrated security solutions. Installation costs and system complexities are key challenges, but AI, facial recognition, and cloud-based surveillance offer innovative solutions. Home Security Systems and Smart Home Security are merging, with sensors, cameras, and remote monitoring at their core. Personal security is also a growing concern, with hardware and software offerings addressing these needs.

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Market Challenges

The interactive residential security market in the US faces a significant challenge due to high upfront costs, which can deter potential customers. Installing comprehensive security solutions involves substantial expenses for hardware, such as cameras, sensors, smart locks, and control panels, as well as fees for professional installation services. For instance, leading providers like ADT and Vivint offer full-featured systems with several hundred to thousands of dollars in initial costs and monthly monitoring fees. These ongoing commitments can be prohibitive for budget-conscious consumers or those uncertain of the systems value. Furthermore, the need for regular maintenance and technology upgrades adds to the financial burden. To make these systems more accessible, companies must provide flexible financing options, such as installment plans or leasing agreements. Failure to address cost concerns may limit market growth potential in the US interactive residential security market during the forecast period.The Interactive Residential Security market in the US is experiencing significant growth due to increasing security concerns among homeowners. Key products include Access Control Systems, Intruder Alarm Systems, Remote Monitoring Services, and Cloud services. Challenges include the integration of Smart City ideas, cybersecurity, and system complexities. Home Security Systems and Smart Home Security are popular solutions, utilizing Sensors, Cameras, and Remote Monitoring. Theft and robbery statistics, especially for single-parent families, fuel demand. Smart Homes, with Fire Protection Services, Home Automation, Property Monitoring, Power Management, Visit Management, and more, offer enhanced security. Installation costs and DIY installation are concerns, but advancements in Artificial Intelligence, Facial Recognition, Cloud-Based Surveillance, and Personal Security are driving innovation. Hardware and Software solutions, including Alarm Systems, Access Control Systems, and Video Surveillance Systems, are essential components. Fire Protection Services ensure safety, while Apartment and Unit security is a growing niche. Overall, the market is dynamic, with ongoing advancements and evolving consumer needs.

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Segment Overview

This interactive residential security market in US report extensively covers market segmentation by

Type 1.1 Property monitoring1.2 Visit management1.3 Phone and wireless security1.4 Power managementApplication 2.1 Apartment2.2 Standalone unitService 3.1 Intrusion protection3.2 Remote monitoring3.3 Security system integration service3.4 OthersGeography 4.1 North America

1.1 Property monitoring- The Interactive Residential Security Market in the US is experiencing significant growth. Homeowners are increasingly investing in advanced security systems that offer remote monitoring and control. These systems include features like motion sensors, door and window sensors, and smartphone app integration. Major players in the market include ADT, Simplisafe, and Vivint. These companies provide customizable plans to meet various home security needs. The market is expected to continue expanding due to the rising demand for enhanced home security solutions.

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Research Analysis

The Interactive Residential Security market in the US is experiencing significant growth due to the increasing demand for advanced safety measures in homes. Residential Security systems are no longer just about deterrence against burglary and theft, but also include energy-saving solutions, remote monitoring, and smart features. These systems use wireless technology, miniaturized sensors, and cameras to provide comprehensive security. Smart Home Security systems are becoming increasingly popular, integrating with other smart devices and the internet for convenient and efficient control. However, technical flaws and cybersecurity concerns are areas of improvement. The market caters to various demographics, including single-parent families, apartments, and units, as well as larger properties and smart city projects. Property Monitoring, Power Management, Visit Management, and Burglary Statistics are key considerations for potential buyers. The market is expected to continue growing due to increasing crime rates and the desire for peace of mind and convenience.

Market Research Overview

The Interactive Residential Security market in the US is a growing industry focused on providing advanced security solutions for homes. Residential Security systems encompass various safety measures such as Alarm Systems, Access Control Systems, Fire Protection Services, and Video Surveillance Systems. These systems leverage Smart Features like wireless technology, miniaturized sensors, and Internet usage to enhance security and offer energy-saving solutions with low energy consumption. Smart Home Security is a popular trend, integrating Home Automation, remote monitoring, and cloud services. DIY solutions are also gaining traction, allowing homeowners to install their systems without professional help. Security concerns include technical flaws, cybersecurity threats, and theft and robbery statistics. Single-parent families, apartments, and units also benefit from these systems. Home Security Systems can include hardware like sensors, cameras, and software for remote monitoring and artificial intelligence capabilities like facial recognition. Smart City projects are exploring the integration of these systems into larger community security networks. Installation costs and system complexities are ongoing considerations, with the potential for significant savings through DIY installation and power management. Property Security is a top priority for homeowners, with solutions addressing both personal and property monitoring needs.

Table of Contents:

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

TypeProperty MonitoringVisit ManagementPhone And Wireless SecurityPower ManagementApplicationApartmentStandalone UnitServiceIntrusion ProtectionRemote MonitoringSecurity System Integration ServiceOthersGeographyNorth 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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SOURCE Technavio

Technology

PEAC Institute Launches “24 Hour Pause for Peace: A Global Concert”

Published

2 hours ago

September 21, 2024

24 Hour Pause for Peace Will Be the Largest Peace Initiative Ever Worldwide, Unifying 96 Countries on Six Continents Through Music

MONTCLAIR, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — On this International Day of Peace, PEAC Institute, part of the 2017 Nobel Peace Prize winning team, has launched “24 Hour Pause for Peace: A Global Concert,” the largest peace initiative ever organized worldwide through music.

“Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.”

On October 4, 2025, this ground-breaking program will activate a massive network of youth ensembles that spans 96 countries and territories across six continents and host two 24-hour commercial festivals featuring some of the biggest acts in music and entertainment. This extraordinary day-long event will be live-streamed globally, allowing millions to participate simultaneously.

“It has been 40 years since Live Aid and We Are the World historically unified and changed the world through music,” said Rebecca Irby, president and CEO of PEAC Institute. “With our planet riddled with post-pandemic fatigue, climate chaos, unsettling wars and more, we believe it is time to create a new trajectory for humanity by inviting everyone around the globe to a 24 hour pause for peace to enjoy the sounds of music and feel the transformative power of human connection,” Irby explained.

Additionally, 24 Hour Pause for Peace plans to amass more than 100 million ambassadors to sign an appeal to the United Nations calling for a 24 hour ceasefire during the children’s concerts and commercial music events. All countries are welcome to participate with no exceptions. One of Pause for Peace’s core beliefs is everyone has the right to be equally respected and heard, particularly in collectively calling for peace.

“Achieving this ambitious global endeavor requires the support and participation from the most impactful brands, organizations, and influential leaders, artists and celebrities,” said Jennifer McKenna, 24 Hour Pause for Peace CEO.

Pause for Peace is a $165 million global initiative. Currently, it is in its first phase of raising seed capital through consumer brand-aligned sponsorships and private donors. Funding for the program is tax-deductible through PEAC’s 501(c)(3) status.

“We have assembled an exceptional executive team of change agents in entertainment, production, consumer marketing, charitable development and global security to make this extraordinary, worldwide peace event happen.” McKenna added. “Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.” To become involved in 24 Hour Pause for Peace: A Global Concert as a sponsor, partner or donor, sign up to be an Ambassador, or for more information, go to www.24hourpauseforpeace.org.

About PEAC Institute

PEAC Institute is a 501(c)(3) nonprofit organization based in the United States. PEAC stands for peace, education, art and communication. It was formed in 2016 through a campaign with partner organization, International Campaign to Abolish Nuclear Weapons (ICAN), which garnered a 2017 Nobel Peace Prize. PEAC now holds special consultative status with the Economic and Social Council of the United Nations and has a global presence working with countries and territories worldwide to reach the most marginalized youth through art and communication activities to help them explore and express. For more information on PEAC Institute, go to www.peacinstitute.org.

Media Contact

Chadwick Boyd, Pause for Peace, 1 4046060611, chadwick@24hourpauseforpeace.org, www.24hourpauseforpeace.org

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SOURCE Pause for Peace

Technology

Global Times: China opens 12 nuclear research facilities to global scientists

Published

3 hours ago

September 21, 2024

The involved facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

VIENNA, Sept. 21, 2024 /PRNewswire/ — China will open 12 nuclear research facilities and testing platforms to international scientists and institutions to enhance global cooperation, a senior Chinese official said here on Monday.

These include the China Advanced Research Reactor, the new-generation tokamak device Huanliu-3, and the Beishan Underground Research Laboratory, Liu Jing, vice chairman of the China Atomic Energy Authority (CAEA), said at a meeting on the sidelines of the International Atomic Energy Agency’s (IAEA) annual general conference.

The facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

Monday’s meeting, themed “Share for Development,” was organized by the CAEA to promote international cooperation in nuclear technology research and development, as China marks the 40th anniversary of its accession to the IAEA.

Yu Jianfeng, chairman of China National Nuclear Corporation, said at the event that the company aims to deepen cooperation with the IAEA and expand international collaboration. He expressed hope that opening China’s nuclear research facilities will contribute to advancing nuclear technology globally.

IAEA’s Deputy Director General Mikhail Chudakov commended China’s remarkable achievements in nuclear energy development and highlighted the long-standing, fruitful relationship between the IAEA and the CAEA.

Welcoming China’s decision to open up more of its nuclear research and development facilities, Chudakov said the move will further strengthen the agency’s technical capacity to support its member states.

On Monday evening, the CAEA and China’s permanent mission to the United Nations (UN) and other international organizations in Vienna jointly held a reception at the UN headquarters in Vienna to celebrate the 40th anniversary of China’s accession to the IAEA. More than 200 participants, including IAEA representatives and foreign envoys to Vienna, attended the event.

Li Song, China’s permanent representative to the UN and other international organizations in Vienna, said at the reception that China and the IAEA have expanded practical cooperation and jointly promoted the development of nuclear energy over the past 40 years.

China, he said, will continue to strengthen collaboration with the IAEA and its member states to address emerging challenges in international security, safeguard the global non-proliferation regime, and promote the use of nuclear energy and technology for the benefit of the Global South.

At the reception, Liu, Li and IAEA Director General Rafael Grossi jointly unveiled a bronze statue of Qian Sanqiang, a renowned Chinese nuclear physicist and one of the founders of China’s nuclear industry.

The statue, donated by China, will be permanently displayed at the IAEA headquarters, alongside sculptures of Polish-French physicist Marie Curie and other prominent figures who have made significant contributions to the peaceful use of nuclear energy.

Contact: xutianshu@globaltimes.com.cn

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SOURCE Global Times

Technology

The Ar-King of Spirits: Ed Arking’s Impact on the Liquor Industry

Published

4 hours ago

September 21, 2024

In the interest of providing luxury liquors in a convenient and stress-free format, Served Neat was born. When asked about his intentions for the company, Ed states, “My goal with Served Neat is to create a one-stop shop where customers can easily discover these rare gems.”

MOORESTOWN, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — Served Neat is an emerging online platform with a curated selection of some of the world’s most popular luxury spirits. The website offers daily flash deals that highlight a variety of high-end international brands including Pappy Van Winkle, Buffalo Trace, Clase Azul, and more.

“While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Ed and Joe Arking, the father-son team behind the concept of Served Neat, have decades of experience hand-selecting and supplying sought-after liquors. Ed Arking, CEO of New Jersey’s Roger Wilco, grew up in the world of wine and spirits and formed his own business aspirations.

“Growing up, I watched my father navigate and succeed in the ever-evolving wine and spirits industry,” Ed explains. “While I always aspired to create something similar, I knew I needed to wait for the right moment.” Ed has gone on to manage his own liquor store and lead projects for up-and-coming brands, such as the vodka-infused and non-carbonated Smooth Water.

As he evolved in his career, Ed discovered the perfect time to make his lifelong vision a reality. He recalls, “I noticed a gap in the market—especially for whiskey and tequila. These categories have surged in popularity, making it difficult for the everyday consumer to find those elusive sought-after allocated bottles.”

When it comes to Served Neat, quality and knowledge is key. Ed adds, “While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Served Neat is the sister company to WTSO and The Wine Market, two online platforms dedicated to sourcing and distributing top-notch wines from every corner of the globe.

At The Wine Market, an online marketplace for the world’s most popular wine brands, convenience and quality are key. Each bottle in their curated collection is a testament to exceptional flavor and craftsmanship.

Since 2006, WTSO has enjoyed creating a unique wine experience and sharing it with new beginners and seasoned connoisseurs alike. Using an extensive network of wineries and wine makers, WTSO connects customers to thousands of brands from top wine appellations around the globe. The strong relationships they’ve formed within the wine world allow the business to deliver authentic and high-quality bottles to homes across the United States.

Wine and spirits lovers alike are invited to explore Served Neat, WTSO, and The Wine Market to find their next favorite bottle. Visit their websites to learn more about these one-of-a-kind online marketplaces!

Media Contact

Julie Blount, WTSO, 1 8669572795, marketing@wtso.com

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SOURCE WTSO