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SUMMARY
Brisk Pace of Residential Construction Activity Encourages Market Growth Resurgence in the construction of new homes – both single family andmulti-family – is propelling the growth of residential end-user securitymarket in the United States. Driven by low interest rates, new housingfacilities in the last two years have increased significantly. This is confirmedby the U.S. Census Bureau studies, which shows that nearly 1.7 million newprivately-owned housing units were built in 2002 in comparison to 1.6 millionunits in 2001. If this is any indication, new construction activity is expectedto continue in full swing. Inspired by this impressive growth, housingdevelopers are beginning to incorporate alarm monitoring and other securityfeatures during construction itself. This Frost & Sullivan research has examined the U.S. residential end-usersecurity market based on end-user segments (single family and multi-family) andtype of security (hardware, software, and services). It also provides insightfulanalysis of latest technological developments, competition, and market trendsthat will enable companies to ascertain future revenue and growth potential. Increased Security Consciousness Creates New Market Opportunities The residential population across the country have become highly"security" conscious after the 9/11 terrorist attacks. Statisticsindicating the alarming increase in the property crime rate – almostthree-quarters of the total crime committed in the United States –revealed by the U.S. Bureau of Justice and the Federal Bureau of Investigation(FBI) Uniform Crime Report (UCR) supports this concern. The number of burglaries, petty thefts, and motor vehicle thefts per 100,000showed a significant increase in 2001 over 2000, the first year-to-year increasein crime since 1991. Another significant statistic is that nearly 85 percent ofburglaries committed in 2001 were successful. "Consumers, feeling insecurewith the increasing threats from local crime to terrorist attacks, are inclinedto implement security systems," says the analyst. "Various studiesshow that most burglary attempts are deterred by the mere presence of an alarmsystem, which is a good enough reason for residents to opt for one." Falling Prices Boost Demand for Security Products and Services The evolution of technology and increasing efficiency in manufacturing isreducing the production costs of different security equipment such as alarmsystems and closed circuit television (CCTV). This, in turn, not only enablesmarket participants to recoup investments within a short time period but also tooffer products at lower prices. "Price declines have improved the viabilityof enhanced security systems while boosting the affordability and demand forbasic security systems among families in the middle to lower-middle strata ofsociety," concludes the analyst. TABLE OF CONTENTS
- EXECUTIVE SUMMARY
- Overview
- Introduction
- Competitive Analysis
- Major Research Findings
- Opportunities and Forecasts
- Conclusions
- TOTAL RESIDENTIAL END-USER SECURITY MARKET
- Overview
- Introduction
- Market Engineering Measurement Analysis
- Total Market Challenges
- Total Market Drivers
- Total Market Restraints
- Forecasts and Trends
- Revenue Forecasts
- Technology Trends
- Competitive Analysis
- Competitive Structure
- Market Rankings
- Frost & Sullivan Awards
- Market Leadership Award
- Business Development Strategy Leadership Award
- Entrepreneurial Company Award
- MULTI FAMILY RESIDENTIAL SECURITY MARKETS
- Market Overview
- Introduction
- Market Engineering Measurement Analysis
- Market Forecasts
- Hardware Market Forecasts
- Software Market Forecasts
- Services Market Forecasts
- SINGLE FAMILY RESIDENTIAL SECURITY MARKET
- Market Overview
- Introduction
- Market Engineering Measurement Analysist
- Market Forecasts
- Hardware Market Forecasts
- Software Market Forecasts
- Services Market Forecasts
- APPENDIX
- Decision Support Database
- Number of Housing Units Statewide in the United States
- Number of Housing Units by Characteristics in the United States
- Average Household Size in North America
- Per Capita Disposable Income Worldwide
- Disposable Income Per Household Worldwide
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