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Artificial Intelligence

Home Security System Market Size to Touch USD 106.3 Billion By 2030 As Per Acumen Research and Consulting

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TOKYO, Jan. 24, 2023 (GLOBE NEWSWIRE) — The Global Home Security System Market Size gathered USD 51.9 Billion in 2021 and is set to garner a market size of USD 106.3 Billion by 2030 growing at a CAGR of 8.6% from 2022 to 2030.

Home Security System Market Overview

The home security system market is rising at a good pace. The home security system consists of a wide range of products and services catering to various consumer needs and preferences. These systems typically consist of a combination of surveillance cameras, motion detectors, alarm systems, and remote monitoring capabilities, among other features. The market is highly diverse and competitive, with a plethora of vendors offering innovative and technologically advanced solutions. Advancements in internet of things (IoT) and artificial intelligence (AI) have further added to the diversity of offerings in the market, with smart home integration and automated response capabilities becoming increasingly popular among consumers. As the demand for home security continues to rise, the market is expected to witness significant growth in the coming years, driven by factors such as increasing crime rates, growing realization about home security, and the high amount of adoption of smart home technology.

Home Security System Market Highlights and Statistics

  • The global Home security system market size in 2021 stood at USD 51,900 Million and is set to reach USD 106,300 Million by 2030, growing at a CAGR of 8.6%
  • The rising incidence of crimes, coupled with the rising necessity about home security, is expected to drive the market growth.
  • The independent home segment is expected to be the market leading segment and is expected to dominate throughout the forecast period, owing to the growing adoption of home security systems in residential buildings.
  • The DIY segment is expected to witness the highest growth rate during the forecast period, owing to the ease of installation and cost-effectiveness of these systems.
  • North America shall be the dominant region in the home security system market share during the forecast period, owing to the increasing adoption of home security systems in the region.
  • Key players operating in the market include ADT LLC, Honeywell International Inc., Bosch Security Systems, Inc., United Technologies Corporation, and Vivint, Inc.

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Home Security System Market Report Coverage:

Market Home Security System Market
Home Security System Market Size 2021 USD 51.9 Billion
Home Security System Market Forecast 2030 USD 106.3 Billion
Home Security System Market CAGR During 2022 – 2030 8.6%  
Home Security System Market Analysis Period 2018 – 2030
Home Security System Market Base Year 2021  
Home Security System Market Forecast Data 2022 – 2030
Segments Covered By Home Type, By Security, By System, By Services, And By Geography
Home Security System Market Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled ADT, Allegion, ASSA ABLOY, Control4 Corporation, Godrej, Hangzhou Hikvision Digital, Honeywell International, Johnson Controls, Legrand, Resideo Technology, Scout Security Schneider Electric, and STANLEY Convergent Security Solutions.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Trends in the Home Security System Market

  • Smart home devices integration: Home security systems devices are becoming more integrated with smart home technology, allowing homeowners to control their security systems remotely through their smartphones or smart devices.
  • DIY installation: Many companies are now offering do-it-yourself installation options, making it easier and more affordable for homeowners to install security systems.
  • Demand for home monitoring services and video surveillance: Video surveillance is becoming more popular, with many systems now offering high-definition cameras and remote viewing capabilities.
  • Wireless technology: Wireless technology is becoming more prevalent in home security systems, making them easier to install and more flexible in terms of placement.
  • Increased focus on cybersecurity: With the rise of cyber attacks, home security companies are placing a greater emphasis on cybersecurity to protect homeowners’ personal data and prevent hacking.
  • Artificial intelligence: AI-based security systems are becoming more popular, with the ability to detect and alert homeowners of potential threats.
  • Increased usage of biometrics: Biometric technology, such as fingerprint and facial recognition, is becoming more common in home security systems to improve security and ease of use.
  • Increased use of IoT devices in security systems: Internet of Things (IoT) devices are becoming more prevalent in home security systems, with the ability to connect and control multiple devices through one platform.

Home security system Market Dynamics

  • Increasing crime rates: With crime rates on the rise, more and more homeowners are looking for ways to protect their homes and families. A home security system provides an added layer of protection against burglaries, break-ins, and other criminal activities.
  • Growing number of cost effective home security systems solutions
  • Growing awareness among consumers and government initiatives: As more people become aware of the benefits of home security systems and the many government initiatives to increase awareness.
  • Increase in the number of working women: With more women entering the workforce, there is an increased need for home security systems. Many women are now looking for ways to protect their homes and families while they are away at work.
  • Rising disposable income: With an increase in disposable income, more people are able to afford the cost of a home security system. This is helping to drive the growth of the market as more and more homeowners are investing in these systems.
  • Increase in the number of single-parent families and elderly population: Single-parent families are becoming more common, and these families are often looking for ways to protect their homes and children. Also there is a high number of aging population living in isolation, they also need an increased home security system.

Home security system Market Growth Hampering Factors

  • High costs: Setting up good quality home security systems can be expensive, which may deter some consumers from purchasing them.
  • Complex installation: Installing a home security system can be complex and time-consuming, which may discourage some consumers from using them.
  • Privacy concerns: Some consumers may be hesitant to install a home security system due to privacy concerns, such as the fear that their personal data may be shared or hacked.
  • False alarms: Home security systems can sometimes generate false alarms, which can be inconvenient and may lead to consumers not using them.
  • Lack of awareness: Some consumers may not be aware of the benefits of home security systems or may not understand how they work, which could hinder their adoption.
  • Dependency on the internet can be a growth limiting factor for the market especially in rural and remote areas. These areas often have a higher crime rate as compared due urban areas.
  • Government regulations and policies: Government regulations and policies can have a significant impact on the growth of the home security system market. For example, certain regulations may require certain types of systems to be installed, or restrict the use of certain technologies.

Check the detailed table of contents of the report @

https://www.acumenresearchandconsulting.com/table-of-content/home-security-system-market

Market Segmentation

Home Type

  • Independent Home
  • Apartments

By Security

  • Professionally-Installed and Monitored
  • Self-Installed and Professionally Monitored
  • Do-It-Yourself (DIY)

By System

  • Fire Protection Systems
  • Video Surveillance Systems
  • Access Control Systems
  • Entrance Control Systems
  • Intruder Alarm Systems

Home Security System Market Overview by Region

North America has the largest home security system market share, driven by factors such as increasing crime rates and the growing adoption of smart home technology. The United States is the largest market amongst all other regions.

Europe is also an important market for home security systems, with countries such as the United Kingdom, Germany, and France driving the demand. The growing awareness of the importance of home security and the increasing number of connected homes and the alarming rates of crime which have increased in the last few years.

Asia Pacific region has the highest population in the world as well as there is a high demand for home security systems is rapidly growing. home security systems market share is driven by factors such as the increasing urbanization and rising disposable income in countries including China and India.

The regions of Latin America and MEA have comparatively a lower significant market share for home security systems. However the market share is increasing significantly. Some of the countries in this region are impoverished as well as have some of the highest crime rates which can help propel the market for home security systems.

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Home Security System Market Key Players

ADT Security Services, Honeywell International Inc., Vivint, Inc., SimpliSafe, Inc., Frontpoint Security Solutions, Axis Communications AB, Bosch Security Systems, Nortek Security & Control LLC, Alarm.com Holdings, Inc., Control4 Corporation, Schneider Electric SE, Tyco International Ltd., United Technologies Corporation, DSC (Digital Security Controls), Elk Products, Inc., Hikvision Digital Technology Co., Ltd., Nest Labs, Inc., Qolsys Inc., Ring Inc., and 2Gig Technologies, LLC.

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About Acumen Research and Consulting:

Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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Artificial Intelligence

$10 million Artificial Intelligence Mathematical Olympiad Prize appoints further advisory committee members

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D. Sculley, Kevin Buzzard, Leo de Moura, Lester Mackey and Peter J. Liu appointed to the advisory committee for the Artificial Intelligence Mathematical Olympiad Prize.
LONDON, April 26, 2024 /PRNewswire/ — XTX Markets’ newly created Artificial Intelligence Mathematical Olympiad Prize (‘AIMO Prize’) is a $10mn challenge fund designed to spur the creation of a publicly shared AI model capable of winning a gold medal in the International Mathematical Olympiad (IMO).

XTX Markets is delighted to announce the appointment of five further advisory committee members. This group brings great expertise in machine learning, including D. Sculley, the CEO of Kaggle; Lester Mackey, a Principal Researcher at Microsoft Research and a Macarthur Fellow; and Peter J. Liu, a research scientist at Google DeepMind.
Prolific mathematicians Kevin Buzzard, who achieved a perfect score in the International Mathematical Olympiad, and Leo De Moura who is the Chief Architect for Lean, the automated reasoning tool, also join the advisory group.
They join the existing advisory committee members Terence Tao and Timothy Gowers, both winners of the Fields Medal, as well as Dan Roberts, Geoff Smith and Po-Shen Loh.
The AIMO Advisory Committee will support the development of the AIMO Prize, including advising on appropriate protocols and technical aspects, and designing the various competitions and prizes.
Simon Coyle, Head of Philanthropy at XTX Markets, commented:
“We are thrilled to complete the AIMO Advisory Committee with the appointments of D., Kevin, Leo, Lester and Peter. Together, they have enormous experience in machine learning and automated reasoning and are already bringing expertise and wisdom to the AIMO Prize. We look forward to announcing the winners of the AIMO’s first Progress Prize soon, and then publicly sharing the AI models to support the open and collaborative development of AI.”
Further information on the AIMO Prize
There will be a grand prize of $5mn for the first publicly shared AI model to enter an AIMO approved competition and perform at a standard equivalent to a gold medal in the IMO. There will also be a series of progress prizes, totalling up to $5mn, for publicly shared AI models that achieve key milestones towards the grand prize.
The first AIMO approved competition opened to participants in April 2024 on the Kaggle competition platform. The first progress prize focuses on problems pitched at junior and high-school level maths competitions. There is a total prize pot of $1.048m for the first progress prize, of which at least $254k will be awarded in July 2024, There will be a presentation of progress held in Bath, England in July 2024, as part of the 65th IMO.
For more information on the AIMO Prize visit: https://aimoprize.com/ or the competition page on Kaggle: https://www.kaggle.com/competitions/ai-mathematical-olympiad-prize/
Advisory Committee member profiles:
D. Sculley
D. is the CEO at Kaggle. Prior to joining Kaggle, he was a director at Google Brain, leading research teams working on robust, responsible, reliable and efficient ML and AI. In his career in ML, he has worked on nearly every aspect of machine learning, and has led both product and research teams including those on some of the most challenging business problems. Some of his well-known work involves ML technical debt, ML education, ML robustness, production-critical ML, and ML for scientific applications such as protein design.
Kevin Buzzard
Kevin a professor of pure mathematics at Imperial College London, specialising in algebraic number theory. As well as his research and teaching, he has a wide range of interests, including being Deputy Head of Pure Mathematics, Co-Director of a CDT and the department’s outreach champion. He is currently focusing on formal proof verification, including being an active participant in the Lean community. From October 2024, he will be leading a project to formalise a 21st century proof of Fermat’s Last Theorem. Before joining Imperial, some 20 years ago, he was a Junior Research Fellow at the University of Cambridge, where he had previously been named ‘Senior Wrangler’ (the highest scoring undergraduate mathematician). He was also a participant in the International Mathematical Olympiad, winning gold with a perfect score in 1987. He has been a visitor at the IAS in Princeton, a visiting lecturer at Harvard, has won several prizes both for research and teaching, and has given lectures all over the world.
Leo de Moura
Leo is a Senior Principal Applied Scientist in the Automated Reasoning Group at AWS. In his spare time, he dedicates himself to serving as the Chief Architect of the Lean FRO, a non-profit organization that he proudly co-founded alongside Sebastian Ullrich. He is also honoured to hold a position on the Board of Directors at the Lean FRO, where he actively contributes to its growth and development. Before joining AWS in 2023, he was a Senior Principal Researcher in the RiSE group at Microsoft Research, where he worked for 17 years starting in 2006. Prior to that, he worked as a Computer Scientist at SRI International. His research areas are automated reasoning, theorem proving, decision procedures, SAT and SMT. He is the main architect of several automated reasoning tools: Lean, Z3, Yices 1.0 and SAL. Leo’s work in automated reasoning has been acknowledged with a series of prestigious awards, including the CAV, Haifa, and Herbrand awards, as well as the Programming Languages Software Award by the ACM. Leo’s work has also been reported in the New York Times and many popular science magazines such as Wired, Quanta, and Nature News.
Lester Mackey
Lester Mackey is a Principal Researcher at Microsoft Research, where he develops machine learning methods, models, and theory for large-scale learning tasks driven by applications from climate forecasting, healthcare, and the social good. Lester moved to Microsoft from Stanford University, where he was an assistant professor of Statistics and, by courtesy, of Computer Science. He earned his PhD in Computer Science and MA in Statistics from UC Berkeley and his BSE in Computer Science from Princeton University. He co-organized the second place team in the Netflix Prize competition for collaborative filtering; won the Prize4Life ALS disease progression prediction challenge; won prizes for temperature and precipitation forecasting in the yearlong real-time Subseasonal Climate Forecast Rodeo; and received best paper, outstanding paper, and best student paper awards from the ACM Conference on Programming Language Design and Implementation, the Conference on Neural Information Processing Systems, and the International Conference on Machine Learning. He is a 2023 MacArthur Fellow, a Fellow of the Institute of Mathematical Statistics, an elected member of the COPSS Leadership Academy, and the recipient of the 2023 Ethel Newbold Prize.
Peter J. Liu
Peter J. Liu is a Research Scientist at Google DeepMind in the San Francisco Bay area, doing machine learning research with a specialisation in language models since 2015 starting in the Google Brain team. He has published and served as area chair in top machine learning and NLP conferences such as ICLR, ICML, NEURIPS, ACL and EMNLP. He also has extensive production experience, including launching the first deep learning model for Gmail Anti-Spam, and using neural network models to detect financial fraud for top banks. He has degrees in Mathematics and Computer Science from the University of Toronto.
About XTX Markets:
XTX Markets is a leading financial technology firm which partners with counterparties, exchanges and e-trading venues globally to provide liquidity in the Equity, FX, Fixed Income and Commodity markets. XTX has over 200 employees based in London, Paris, New York, Mumbai, Yerevan and Singapore. XTX is consistently a top 5 liquidity provider globally in FX (Euromoney 2018-present) and is also the largest European equities (systematic internaliser) liquidity provider (Rosenblatt FY: 2020-2023).
The company’s corporate philanthropy focuses on STEM education and maximum impact giving (alongside an employee matching programme). Since 2017, XTX has donated over £100mn to charities and good causes, establishing it as a major donor in the UK and globally.
In a changing world XTX Markets is at the forefront of making financial markets fairer and more efficient for all.
 

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Artificial Intelligence

Hikvision redefines urban mobility with AIoT-powered solutions at Intertraffic 2024

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HANGZHOU, China, April 26, 2024 /PRNewswire/ — Hikvision made a significant appearance at Intertraffic Amsterdam, the leading global trade fair for mobility and traffic technology. At the trade event, Hikvision unveiled a suite of traffic, transport, and parking management solutions and products powered by Artificial Intelligence of Things (AIoT) technology, which promised to improve urban mobility, road safety, and operational efficacy.

Elevating urban traffic intelligence with AIoT
One highlight of the Hikvision stand was its intelligent urban traffic solution, which leveraged the power of AIoT to deliver comprehensive real-time monitoring, incident detection, and traffic control. This solution intelligently reshapes traffic dynamics, offering a more responsive and data-driven approach to enhance situational awareness and traffic management. Key innovations in the solution included:
Hikvision’s radar-video fusion camerasThese combine the range perception of radar with the visual perception of video. The 4 MP Radar and Video Vehicle Detector, for example, helps to enhance road safety by providing early warning of potential hazards in challenging situations such as blind spots at intersections and obstacles outside the visual range.Hikvision’s All-In-One Traffic SpotterThis stands out with its multifaceted design incorporating video, radar, and lighting technologies for heightened traffic violation detection. Its streamlined column design facilitates effortless installation.Hikvision’s Radar-Linked PTZ Camera This ensures consistent performance in adverse weather and lightening conditions, and minimizes false alarms with advanced deep-learning algorithms.Innovating parking management
Hikvision also introduced its parking management solutions. These combine extremely precise license plate recognition and intelligent barrier controls incorporating highly accurate radar sensors. This comprehensive approach enhances security, reduces the need for manual intervention, and streamlines traffic flow across parking areas. The Global Shutter CMOS* (GMOS) ANPR camera was a new addition to the lineup. Designed to seamlessly blend in the environment, it is tailored for the task of discreetly capturing license plates at parking facilities that prioritize subtlety.
Advancing public transportation safety and efficiency
Attendees also had the opportunity to explore Hikvision’s latest public transport solutions, integrating AI-driven analytics with advanced video security, on-site voice broadcasting, and centralized management for enhanced onboard security, improved passenger experience, and operational efficiency for buses and taxis. This included the Four-way monitoring system and the Panoramic Auxiliary System, both designed to reduce blind spots and provide high-definition imaging to improve driving safety.
“As ever, we are continually expanding our suite of technologies to enhance traffic safety and efficiency,” said Nick Wu, Project Product Director at Hikvision Europe. “Our commitment lies in minimizing the need for extensive roadside installations by incorporating comprehensive perception and robust AI within unified device frameworks. These innovations automate and streamline every aspect of traffic management, from violation detection to traffic flow monitoring, driving safety, and parking management.”
To find out more about Hikvision’s urban mobility products and solutions, please explore its official website.
Note: CMOS stands for Complementary Metal-Oxide-Semiconductor.
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Artificial Intelligence

London Blockchain Conference Launches the No Future Campaign

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LONDON, April 26, 2024 /PRNewswire/ — The London Blockchain Conference is excited to announce the launch of its ground-breaking, ‘No Future Campaign’. This initiative aims to create a strong narrative surrounding blockchain technology by challenging perceptions and sparking conversations. By creating this platform, the campaign aims to instil a fear of missing out (FOMO) sensation among the audience, positioning the London Blockchain Conference as a gateway to securing a stake in the future and unlocking the potential of blockchain technology.

With a bold and evocative narrative theme, the campaign will initially confront the audience with a jarring reality check of “NO FUTURE” and then resolve the statement “WITHOUT BLOCKCHAIN” to spark curiosity and engagement with the optimistic revelation that blockchain holds the key to a prosperous future.
The ‘No Future Campaign’ started on 17 April 2024 with the London Blockchain Conference creating and executing content on/with media platforms and partnerships:
Wharf Life inserts (17/04/2024) – Print and a digital advert/editorial-sponsored pieces.Animations being released on paid and organic channels in a 3-week campaign.Alex Stein, Conference Director said, “The No Future Campaign is a call for individuals, enterprises, and governments to recognise the importance and role of blockchain in shaping the future. Through the London Blockchain Conference, we aim to educate and inspire attendees to understand and harness the potential of blockchain technology.”
The three-day London Blockchain Conference at the ExCel will bring together politicians, business leaders, and innovators. The conference will be running from 21 – 23 May 2024 and will focus on disruptive and real-world applications of blockchain technology and the impact it is having on politics, emerging technologies, and enterprises.
For more information about the ‘No Future campaign’, visit the London Blockchain Conference website.
About the London Blockchain Conference
NETWORK. LEARN. ENGAGE. 
 At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, ecosystem announcements, product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself. 
 
 

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