Home Security System Market

Home Security System Market was valued at USD 56.5 billion in 2022 and is forecast to touch USD 105.4 billion in 2030, and the market is expected to grow at a CAGR of 8.1% from 2023-2030.

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Key Drivers and Emerging Trends

The home security system market is increasing at a tremendous rate, because of the increasing adoption of smart homes and advancements in IoT. As per the report published by Security Info Watch in July 2021, the U.S. witnessed highest penetration of smart home technology in the world at 40.1%. Additionally, increasing urbanization and innovations in technology have bolstered the need for better security systems to be monitored through smartphones. This has contributed to the advent of new concepts which include, service bundling, home automation, intelligent building, and incorporation of security, thereby paving the way for home security systems. Moreover, with the improvement in network infrastructure, broadband, and internet penetration, the inclination towards wireless and technologically sophisticated products to certify safety for their families has increased, driving the home security system market share.

Further, increasing adoption of the internet of things (IoT) devices is anticipated to boost the home security system market over the forecast years. IoT security solutions help in getting a better comprehension of the enter and exits facility, supervises facility conditions from any location with Wi-Fi connection and helps to transmit important safety notification to their mobile device, thus, ensuring home safety. For example, as per the Norton, a US-based antivirus and anti-malware software development company estimated that nearly 11.6 billion IoT devices were used in 2021 and will reach to 21 billion IoT devices by 2025. Thus, the advent of the internet of things and wireless technologies will boost the market growth. However, the huge initial investment and high maintenance and operational cost of the home security equipment is projected to restrain the home security system market size.

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System – Segment Analysis

Video surveillance systems are anticipated to hold a larger share over the forecast period, because of the easy installation and maintenance of safety cameras. In addition, the growing demand for IP cameras, wireless and spy cameras security camera at home is forecast to propel the segment’s growth. Moreover, the ease to access video recording footage offered by video surveillance systems is driving the market growth.

Service – Segment Analysis

Fire protection services is predicted to grow at a faster CAGR during the forecast period. This growth is driven by the remarkable characteristics of fire protection devices which include the ability to communicate quickly and effectively in case of an emergency, early detection of smoke, gas leak, heat, and fire. Several companies offering fire alarm and detectors like Napco Security Technologies, Inc., Honeywell International Inc., Halma Plc, and Robert Bosch GmbH.

With the rapid digitization, accelerating internet penetration and surging demand for third-party security service vendors for enhanced security and cost-effectiveness, the demand for security system integration services will increase, paving the way for market.

Application – Segment Analysis

Do-It-Yourself (DIY) is likely to hold a larger share during the forecast period, because of the easy availability of wireless and compact home safety systems such as cameras, fire detectors, and alarms, which is easy installation without needing any professional support. The remarkable features offered by do-it-yourself including cost-efficiency, easy installation, minimum monthly charges, and easy personalization will drive the market growth. Moreover, the professionally installed and monitored segment will lead the market during the forecast timeline. The growing dependence on third-party security services and increasing incorporation of IoT and smart devices for home safety, will further strengthen the market growth.

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Regional – Segment Analysis

North American region is estimated to emerge as a promising region during the forecast period, because of the increasing urban population, rising safety concern, and increasing adoption of smart home devices. Moreover, the existence of leading players including ADT Inc., Honeywell International Inc., and Johnson Controls International Plc will offer enormous opportunities for the market.

Asia Pacific, on the other hand, is expected to grow at a faster CAGR over the forecast period, because of the growing trend of smart home and security systems and accelerating per capita income of household. Additionally, the rising incidences of augmented the demand for better safety and security systems which include electronic alarm sensors, CCTV cameras, and other devices, driving the home security systems market.

Top Market Players

Several Leading players operating in the market include Honeywell International Inc., ADT Inc., Johnson Controls International Plc, Robert Bosch GmbH, Allegion Plc, Wirepath Home Systems, LLC, Schneider Electric SE, Comcast Corporation, Vivint, Inc., and Raytheon Technologies Corporation, among others. 

Key Developments:

• • In 2021, SimpliSafe introduced the SimpliSafe Wireless Outdoor Security Camera, which is designed to help stop crime before it happens. The adjustable magnetic mount helps the SimpliSafe Outdoor Camera to function without any wiring and can be easily installed in less than five minutes. Furthermore, a removable, rechargeable battery functions up to three to six months on a single charge, pending settings, usage, and placement powers the SimpliSafe Wireless Outdoor Security Camera.
  • In 2020, Arlo Technologies, Inc. introduced the Ultra Series of security cameras, the Ultra 2 Wire-Free Spotlight Camera System, which will offer an enhanced user experience and is developed on advanced features such as 4K video with HDR, an ultra-wide 180-degree field of view, and more.
  • In 2020 – Vivint Smart Home launched its latest Doorbell Camera Pro with 180-degree vertical and horizontal field of view, and a 1:1 aspect ratio which can smartly detect packages and prevent from theft and other potential threats. It offers homeowners with peace of mind by prevent crime before they happen.
  • In 2020, Legrand acquired Netatmo, the French startup, with an intent to launch a new device CES, the Netatmo Smart Door Lock. It can be installed as a substitute to any cylinder door lock. Netatmo has put an accelerometer in the device to detect break-in attempts.
  • In 2020, Robert Bosch GmbH introduced IP 3000i security cameras with high-quality, 24/7 performance with a range of reliable surveillance feature and are designed for easy installation. This is expected to enhance the product portfolio of the company.
  • In 2019 – Bosch launched a variety of IP 3000i cameras which offers better and improved surveillance features for standalone installations or general surveillance. These are incorporated with Micro dome, mini-dome, bullet, and turret options, available with resolutions of up to 5 MP for indoor and outdoor use. The IP 3000i cameras have built-in essential video analytics which now comes as standard.

Segments Covered in the Report:

The global home security system market has been segmented on the basis of vehicle type, component, application, and regions. Based on System, the market is segmented into fire protection system, video surveillance system, access control system, entrance control system, intruder alarm system. Based on service, the market is segmented into security system integration service, remote monitoring service, fire protection service, video surveillance service, access control service. Based on security, the market is segmented into professionally-installed and monitored, self-installed and professionally monitored, and do-it-yourself (DIY). 

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Key questions answered in this research report:

• • At what pace is global Home Security System Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Home Security System Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Home Security System Market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various application areas of global Home Security System Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2022)	USD 56.5 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By System, by Service, By Security, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Honeywell International Inc., ADT Inc., Johnson Controls International Plc, Robert Bosch GmbH, Allegion Plc, Wirepath Home Systems, LLC, Schneider Electric SE, Comcast Corporation, Vivint, Inc., and Raytheon Technologies Corporation, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Home Security System Market by System

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

Global Home Security System Market by Service

• • Security System Integration Service
  • Remote Monitoring Service
  • Fire Protection Service
  • Video Surveillance Service
  • Access Control Service

Global Home Security System Market by Application

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

Global Home Security System Market by Region

• • North America Home Security System Market (Option 1: As a part of the free 25% customization)

    • By System
    • By Service
    • By Security
    • US Market All-Up
    • Canada Market All-Up

  • Europe Home Security System Market (Option 2: As a part of the free 25% customization)

    • By System
    • By Service
    • By Security
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Home Security System Market (Option 3: As a part of the free 25% customization)

    • By System
    • By Service
    • By Security
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Home Security System Market (Option 4: As a part of the free 25% customization)

    • By System
    • By Service
    • By Security
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Home Security System Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Honeywell International Inc.
  • ADT Inc.
  • Johnson Controls International Plc
  • Robert Bosch GmbH 
  • Allegion Plc
  • Wirepath Home Systems, LLC
  • Schneider Electric SE
  • Comcast Corporation
  • Vivint, Inc.
  • Raytheon Technologies Corporation