Overview and Scope
A home security system is a collection of devices that work together to keep the house safe and secure which avoids the entry of burglars and home intruders.
Sizing and Forecast
The home security system market size has grown steadily in recent years. It will grow from $4.2 billion in 2023 to $4.36 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to increased affordability, remote monitoring and control, consumer awareness and education, insurance discounts for security systems
The home security system market size is expected to see steady growth in the next few years. It will grow to $4.94 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to energy efficiency and sustainability, elderly and child monitoring solutions, interoperability standards, growing demand for video surveillance systems, . Major trends in the forecast period include advancements in technology, integration with smart home ecosystems, video analytics and facial recognition, increased adoption of wireless technologies, smart sensors and detectors, innovations in alarm technologies, elderly and child monitoring solutions..
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Segmentation & Regional Insights
The home security system market covered in this report is segmented –
1) By System: Fire Protection System, Video Surveillance System, Access Control System, Entrance Control System, Intruder Alarm System
2) By Component: Hardware, Software, Services
3) By Security Type: Professionally-Installed And Monitored, Self-Installed And Professionally Monitored, Do-It-Yourself (DIY)
4) By End User: Condominiums, Apartments, Independent Homes
North America was the largest region in the home security system market in 2023. Europe was the second-largest region in the home security system market share. The regions covered in the home security system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing usage of internet of things (IoT) devices is expected to propel the growth of the home security system market over the forecast years. The internet of things (IoT) refers to a system of internet-connected objects that can collect and transfer data through a wireless network without human intervention. In terms of home safety, IoT security solutions are used to gain a better understanding of who enters and exits a facility in real-time, monitor facility conditions reliably and securely from any location with Wi-Fi connection, important security notifications are transmitted directly to their mobile device, allowing them to act swiftly. For instance, according to Norton, a US-based antivirus and anti-malware software development company estimate that in 2021 there are around 11.6 billion IoT devices used, and it will grow to 21 billion IoT devices by 2025. Therefore, the emergence of the internet of things and wireless technologies drives the home security system market growth.
Key Industry Players
Major companies operating in the home security system market report are ADT LLC, Honeywell International Inc., Johnson Controls International plc., Hangzhou Hikvision Digital Technology Co. Ltd., Assa Abloy AB, Secom Co. Ltd., Robert Bosch GmbH, United Technologies Corporation, Godrej & Boyce Mfg. Co. Ltd., Allegion plc, Control4 Corporation, Schneider Electric SE, Nortek Security & Control LLC, Vivint Inc., Armorax Limited, Google Nest, Loop Labs Inc., Canary Connect Inc., Scout Security Group, SimpliSafe Inc., Securitas AB, Bosch Security Systems Inc., Legrand Group, Resideo Technologies Inc., STANLEY Convergent Security Solutions Inc., SkyBell Technologies Inc., Apple Inc., LiveWatch Security LLC, Amazon. com Inc., FrontPoint Security Solutions LLC, NETGEAR Inc., Samsung Electronics Co. Ltd., Alphabet Inc., Comcast Corporation, Swann Communications Pty Ltd., Lorex Technology Inc., Night Owl SP LLC, Defender, Amcrest Technologies LLC, Zmodo Technology Corporation, Reolink Digital Technology Co. Ltd., LaView Inc., ANNKE INNOVATION (HK) CO. LIMITED, Shenzhen Foscam Intelligent Technology Co. Ltd.
The home security system market report table of contents includes:
1. Executive Summary
2. Home Security System Market Characteristics
3. Home Security System Market Trends And Strategies
4. Home Security System Market – Macro Economic Scenario
5. Global Home Security System Market Size and Growth
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26. South America Home Security System Market
27. Brazil Home Security System Market
28. Middle East Home Security System Market
29. Africa Home Security System Market
30. Home Security System Market Competitive Landscape And Company Profiles
Top Major Players:
- ADT LLC
- Honeywell International Inc
- Johnson Controls International plc
- Hangzhou Hikvision Digital Technology Co. Ltd
- Assa Abloy AB
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