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Overview
API
The home and small business security system market is projected to grow at a 6.8% compound annual growth rate, driven by cellular connectivity and the rise of wireless IoT solutions. North America has a 22.5% penetration rate, with an estimated 34.8 million active monitored alarm systems in 2022. Europe also displays growth potential, particularly in the residential segment, and the influence of interactive security services and smart home products on the home security market.
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How do advancements in technology influence the development and adoption of security systems in different regions?
How might the increasing adoption of cellular connectivity and wireless IoT solutions impact the security industry?
What are the potential implications of the projected growth in the home and small business security system market on consumer behavior and home security trends?
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