Various strategies like the rising of home automation, wireless functionality, and incorporation with mobile systems are being taken up by many leading manufacturers to raise the share of the intruder alarm market. It has been observed that a strong shift has occurred towards wireless products plus this type of technology is getting less expensive nowadays. Gradually, wireless products are taking a major hold in the residential sector, but hardwiring is still being favored in commercial buildings. Residential security has become one of the important issues.
In addition, the companies have started developing more apps that are assisting in the further development of the market. One of the prominent factors including new building construction is likely to influence the market optimistically and the impact would be seen more in the commercial space than in the residential sector.
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The only factor that is acting as a major hurdle in the growth of the intruder alarm market includes the soaring price. Consumers are not willing to pay a monthly bill because the intrusion system does not lend any returns on the investment, excluding the non-intrinsic value of being protected. Another restraining factor that is turning a major challenge for the market includes consumer awareness. On the other hand, the manufacturers are facing the complicated and restrictive nature of product certification.
The past scenario shows that the industry has been undergoing many insecurities and uncertainties related to the standards laid down by the authorities. As per the guidelines, the products need to be developed, tested, and certified. Consequently, the leading companies have been constantly facing issues concerning soaring costs and a sluggish route to the intruder alarm market.
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