The Global Home Security Systems Market size is expected to reach $96.5 billion by 2028, rising at a market growth of 9.1% CAGR during the forecast period.
Global Home Security Systems Market Size, Share & Industry Trends Analysis Report By Component (Solution and Services), By Home Type (Condominiums/ Apartments and Independent Homes), By Security Type, By Regional Outlook and Forecast, 2022 ? 2028
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When a secured zone is broken, a home security system consists of a mix of software and hardware technologies that are designed to detect an intrusion or unauthorized entrance. It can function even in the event of a power loss and warns of potential environmental hazards like carbon monoxide poisoning, fire, flooding, and so on. Nowadays, home security systems are microprocessor-based and perform a wide range of duties while providing a user-friendly interface.
Smart security cameras connect to Wi-Fi, allowing user to remotely live stream images of the system and receive alerts when the cameras detect movement, persons, or parcels. Many cameras come with infrared or color night vision, cloud or local storage, and two-way audio, allowing the user to communicate with whoever is on camera. Smart platform integrations, such as Amazon Alexa or Google Assistant, are also available on some cameras.
Motion sensors should be installed in a main entryway or hallway on the ground level of a property to detect motion and notify the user when the security system is activated. Entry sensors, also known as contact sensors, are made up of two parts: one which goes on the door or window and the other on the frame. The sensor will notify the user if it believes an entrance point has been opened. On the bottom floor, it is recommended installing entry sensors on windows or doors.
Covid-19 Impact Analysis
The pandemic COVID-19 had a significant impact on the home security systems market. Manufacturing delays and the temporary suspension of non-essential transportation caused a substantial drop in comprehensive sales in 2020. COVID-19 has had a severe negative impact on major markets such as the United States and China, with supply chain disruption in China resulting in a drop in demand for home security systems. Demand in China has been impacted by a drop in the number of new development projects and the closure of manufacturing operations.
Market Growth Factors
The Internet of Things (IOT) and Wireless Technologies are Gaining in Popularity
IoT-based security systems improve user safety by sending quick notifications. Smart sensing identifies and informs the user of changes in motion, heat, and sound. With the availability of a vast number of high-quality data, IoT makes devices smarter. For example, the utilization of high-definition cameras, infrared vision, and night vision surveillance systems ensure that the specifics of any incident are available 24 hours a day, seven days a week.
Acceptance of Deep Learning and Artificial Intelligence in Home Security Systems
AI has made it possible to connect automated health assessment and medical alert systems with a complete home security system. In addition to the rising usage of home security systems for video surveillance, hazard detection, and access control applications, residents cognitive and physical health monitoring is gaining traction, particularly home-based monitoring of the elderly. The AI-based cognitive analysis collects and analyses data on the occupants activities and health status.
Market restraining Factors
Costs of Installation, Maintenance, and Operation are high
The cost of the hardware, software and services required to establish a security system has a considerable impact on the adoption of home security solutions. This is owing to the pricey hardware and consultancy fees, and the upfront installation cost of a professionally installed system is also high. The cost of ownership is also considered because the system necessitates regular maintenance, subscription fees, and replacement costs in the event of damage. Subscription costs levied by third-party monitoring companies often range to a certain figure. Furthermore, software with extensive analytics features is costly and adds to the systems overall cost.
Component Outlook
By components, the home security systems market is bifurcated into Solution and Services. By Solution Type, the home security systems market is classified into Fire Protection systems, Video Surveillance Systems, Access Control systems, Entrance Control systems, and Intruder Alarm systems. The Video Surveillance System segment witnessed the maximum revenue share in the home security systems market in 2021. The method of monitoring the activity and conduct of individuals, groups of humans, and/or machines for the purposes of managing, guiding, influencing, or protecting people is known as video surveillance. The Video Surveillance Systems industry is growing due to the strong demand for networked cameras.
Home Type Outlook
By Home Type, the home security systems market is divided into Independent Homes and Condominiums/ Apartments. The independent homes segment witnessed a promising revenue share in the home security systems market in 2021. It is due to independent homes requiring a higher level of security as there is a lack of general security services provided by any security agencies. Including home security systems in an independent house offers more ample amount of security than a security agency.
Security Type Outlook
By Security, the home security systems market is fragmented into Professional-installed and monitored, Self-installed and professionally monitored, and Do-It-Yourself (DIY). The professional-installed and monitored segment acquired the highest revenue share in the home security systems market in 2021. If an individual has a professionally monitored system, a call center monitors the setup 24 hours a day, seven days a week, and receives a notification when something activates the alarm. The service includes monitoring of the area, instantly when the siren is blown in order to ensure everything is fine in respect to home security.
Regional Outlook
By Region, the home security system market is analysed in North America, Europe, Asia Pacific, and LAMEA. North America emerged as the leading region in the home security systems market with the largest revenue share in 2021. The region is leading the way in terms of introducing access control systems to increase security and safety. Companies operating in the United States, Canada, and Mexico are expanding the competence in access control systems in order to provide novel technology and services in this segment and obtain a competitive edge over competitors from other nations.
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; ABB Group are the forerunners in the Home Security Systems Market. Companies such as Johnson Controls International PLC and Assa Abloy AB are some of the key innovators in Home Security Systems Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, Robert Bosch GmbH, ABB Group, Resideo Technologies, Inc., ADT, Inc., Assa Abloy AB, Allegion PLC, Snap One, LLC, Secom Co. Ltd., Hangzhou Hikvision Digital Technology Co., Ltd.
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Recent Strategies deployed in Home Security Systems Market
Partnerships, Collaborations and Agreements:
May-2021: Johnson Controls came into a partnership with DigiCert, the worlds leading provider of digital certificate services and PKI solutions. This partnership aimed to enable Johnson Controls to give customers enhanced peace of mind by mitigating the risk of costly operational interruptions because of cybersecurity attacks while offering resilient, trusted smart building solutions that use the most advanced PKI technology from DigiCert.
Aug-2020: ADT came into a partnership with Google, an American multinational technology company. This partnership aimed to unify Nest?s hardware and services, powered by Google?s machine learning technology, with ADT?s installation, service, and professional monitoring network to develop a more efficient smart home and unified experience for customers over the United States and create the next generation of smart home security offerings.
Product Launches and Product Expansions:
Oct-2020: Resideo Technologies unveiled its Honeywell Home ProSeries Security and Smart Home Platform. This product aimed to provide dealers that serve residential and small businesses with a comprehensive, end-to-end solution and expands Resideos overall portfolio of linked security solutions and services.
Jul-2020: Johnson Controls unveiled OpenBlue, a comprehensive suite of linked solutions and services. This product would help customers to handle operations in a more organized manner.
Acquisitions and Mergers:
Apr-2022: Johnson Controls took over Security Enhancement Systems, a provider of mobile-based, keyless access control solutions. This acquisition would enable Security Enhancement Systems to include Johnson Controls? complete portfolio of security and access control technology available comprising security and access controls, video management, security as a service, IP cameras, door controllers, and card readers.
Apr-2022: Allegion entered into an agreement to acquire Stanley Access Technologies, which manufactures, installs, and services sliding, swinging, folding, transit/metro, and revolving door systems. This acquisition aimed to expand in an adjacent market segment, offering customers and end-users a more complete offering for seamless access wherever they reside, work and thrive.
Apr-2022: Resideo Technologies took over First Alert, a leading provider of home safety products. This acquisition aimed to provide a complete portfolio of detection and suppression devices comprising smoke alarms, carbon monoxide (CO) alarms, combination alarms, connected fire and CO devices, fire extinguishers, and other suppression solutions.
Jan-2022: Snap One took over Staub Electronics, a Canadian distribution partner. This acquisition aimed to boost the capabilities over Canada, introducing a broad array of products, offering faster turnaround times on orders, enabling same-day order pick-ups, and delivering more product choices than ever before for the Canadian partners.
Jan-2022: Assa Abloy signed an agreement to acquire Vigil Health Solutions, a leader in innovative call systems and resident monitoring solutions for senior living. This acquisition aimed to offer alarm systems and solutions that guide the care of and monitor seniors living in senior living communities.
Oct-2021: ADT took over Edwards Electronic Systems, a premier fire, life safety, and security systems provider. This acquisition aimed to strengthen the ADT Commercial organization?s unification capabilities and fire and life safety expertise to offer mid-market, national, and large-scale commercial customers in the Carolinas region.
Sep-2021: Assa Abloy entered into an agreement to acquire the Hardware and Home Improvement division of Spectrum Brands. This acquisition would strengthen Assa Abloy position by including complementary products to the main business and it would boost the transformation from mechanical to digital solutions.
Mar-2021: ADT took over SAFE Electronics, a construction company, located in Las Vegas. Through this acquisition, ADT would expand its geographical footprints in Las Vegas, wherein the company would use SAFE Electronicss specialization to gain a competitive edge in the region.
Oct-2020: Resideo Technologies unveiled its Honeywell Home ProSeries Security and Smart Home Platform. This product aimed to provide dealers that serve residential and small businesses with a comprehensive, end-to-end solution and expands Resideos overall portfolio of linked security solutions and services.
Jul-2020: Johnson Controls unveiled OpenBlue, a comprehensive suite of linked solutions and services. This product would help customers to handle operations in a more organized manner.
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Scope of the Study
Market Segments covered in the Report:
By Component
SolutionVideo Surveillance SystemFire Protection SystemEntrance Control SystemAccess Control SystemIntruder Alarm SystemServicesSecurity System Integration ServicesRemote Monitoring ServicesFire Protection ServicesVideo Surveillance ServicesAccess Control Services
By Home TypeCondominiums/ ApartmentsIndependent Homes
By Security TypeProfessional-installed & MonitoredSelf-installed & Professionally MonitoredDo-It-Yourself (DIY)
By GeographyNorth AmericaUSCanadaMexicoRest of North AmericaEuropeGermanyUKFranceRussiaSpainItalyRest of EuropeAsia PacificChinaJapanIndiaSouth KoreaSingaporeMalaysiaRest of Asia PacificLAMEABrazilArgentinaUAESaudi ArabiaSouth AfricaNigeriaRest of LAMEA
Companies ProfiledJohnson Controls International PLCRobert Bosch GmbHABB GroupResideo Technologies, Inc.ADT Inc.Assa Abloy ABAllegion PLCSnap One, LLCSecom Co. Ltd.Hangzhou Hikvision Digital Technology Co., Ltd.
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Home Security Systems Market | expected to reach $96.5 billion | growth of 9.1% CAGR | 200 pages report - Taiwan News
- Amazon just slashed the price of our favorite budget home security camera - Tom's Guide - March 14th, 2024 [March 14th, 2024]
- Los Angeles Police Department warning home owners to hard-wire home security systems as organized theft rings ... - Notebookcheck.net - March 14th, 2024 [March 14th, 2024]
- Mesa family upping home security as burglaries increase - Yahoo! Voices - March 14th, 2024 [March 14th, 2024]
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- Best Security Systems For Apartments Of 2024 Forbes Home - Forbes - March 14th, 2024 [March 14th, 2024]
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- Wayward 450-pound pig named Kevin Bacon hams it up for home security camera - The Associated Press - March 14th, 2024 [March 14th, 2024]
- The Best Home Security Cameras According To Rigorous, Hands-On Testing - Forbes - March 14th, 2024 [March 14th, 2024]
- Best home security deal: Get the Arlo Essential Wired Video Doorbell for just $49.99 at Amazon. - Mashable - March 14th, 2024 [March 14th, 2024]
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- Why Airbnb Is Banning Cameras in Rentals - TIME - March 14th, 2024 [March 14th, 2024]
- PC students gift overnight security guard trip home to Nigeria - WPRI.com - March 14th, 2024 [March 14th, 2024]
- Influencer suing Tyreek Hill for 'breaking her leg' DEMANDS he hand over his private texts and home security f - Daily Mail - March 14th, 2024 [March 14th, 2024]
- Ring's Battery Doorbell Pro is one of the best security systems I've tested (but there's a catch) - ZDNet - March 14th, 2024 [March 14th, 2024]
- Ring Spotlight Cam Pro Review: Compact, Reliable And Long Battery Life - Forbes - March 14th, 2024 [March 14th, 2024]
- Home security video catch person taking mail that results in $8,000 worth of fraudulent checks - AOL - February 16th, 2024 [February 16th, 2024]
- Best Home Security Cameras of 2024 - CNET - February 16th, 2024 [February 16th, 2024]
- Ring sale: Save on Ring doorbells and home security cameras today - Digital Trends - February 16th, 2024 [February 16th, 2024]
- Blink's video doorbell just crashed to $44 and it doesn't require a subscription - Tom's Guide - February 16th, 2024 [February 16th, 2024]
- Snag Up to 43% off These Blink Security Cameras and Doorbells - CNET - February 16th, 2024 [February 16th, 2024]
- U.S. House Republicans impeach Homeland Security chief Mayorkas on second try Oregon Capital Chronicle - Oregon Capital Chronicle - February 16th, 2024 [February 16th, 2024]
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- The 4 Best Security Cameras for Your Home of 2024 | Reviews by Wirecutter - The New York Times - February 16th, 2024 [February 16th, 2024]
- Security guard shoots man allegedly trying to run people over in Home Depot parking lot - CBS Los Angeles - February 16th, 2024 [February 16th, 2024]
- The 4 Best Smart Doorbell Cameras of 2024 | Reviews by Wirecutter - The New York Times - February 16th, 2024 [February 16th, 2024]
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- Angry Airbnb host sent guest's wife security photo of him with another woman, lawsuit claims - New York Post - February 16th, 2024 [February 16th, 2024]
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- We test some of the latest home security cameras to see how far the technology has come - Nottinghamshire Live - February 16th, 2024 [February 16th, 2024]
- Ring Is Raising Rates on Some Plans by 25% in March - PCMag Middle East - February 16th, 2024 [February 16th, 2024]
- The 12 Best Home Security Cameras of 2023 - Security.org - December 11th, 2023 [December 11th, 2023]
- Traveling for the holidays? Keep an eye on your home with the Blink Mini security camera, now just $20 - Gwinnettdailypost.com - December 11th, 2023 [December 11th, 2023]
- Gangs from South America use security jammers to break in to expensive homes across country: police - WLS-TV - December 11th, 2023 [December 11th, 2023]
- Best Home Security Companies Of 2023 Forbes Home - Forbes - December 11th, 2023 [December 11th, 2023]
- Best Wireless Security Cameras Of December 2023 Forbes Home - Forbes - December 11th, 2023 [December 11th, 2023]
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- Wireless CCTV camera for home security? Here are top 10 options to choose from | Mint - Mint - December 11th, 2023 [December 11th, 2023]
- Cougar struck and killed near Minneapolis likely the one seen in home security video, expert says - Drgnews - December 11th, 2023 [December 11th, 2023]
- Cougar living in Lowry Hill neighborhood of Minneapolis, city, DNR warn - Star Tribune - December 11th, 2023 [December 11th, 2023]
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- Prevent Burglaries With ADT's Tips For Property Security | Security News - SecurityInformed - December 11th, 2023 [December 11th, 2023]
- Prince Harry Says His Security Removal Had One Glaring Error - Newsweek - December 11th, 2023 [December 11th, 2023]
- Save $50 on the Ring Alarm home security system from Amazon - SFGATE - September 13th, 2022 [September 13th, 2022]
- An Indian Security System That Is Being Transformed By Technology - Inventiva - September 13th, 2022 [September 13th, 2022]
- VP Harris wishes lawmakers treated domestic threats as 'Americans' - Business Insider - September 13th, 2022 [September 13th, 2022]
- Axis Communications Unveils Latest Solutions for Integrating Sight, Sound, Analytics and More at the 2022 Global Security Exchange - Business Wire - September 13th, 2022 [September 13th, 2022]
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- Department of Homeland Security PAL-Home - November 4th, 2021 [November 4th, 2021]
- Native Sun Home Accents, Inc. - Arizona Security Doors ... - November 4th, 2021 [November 4th, 2021]
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- The Top Reasons You Should Not Ignore Installing a Home Security System - Southeast Missourian - November 4th, 2021 [November 4th, 2021]
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- Connected Home Security Market 2021: Global Analysis, Share, Trends, Application Analysis and Forecast To 2027 Bolivar Commercial - Bolivar... - November 4th, 2021 [November 4th, 2021]
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- Frontpoint Security Expands Executive Team with the Announcement of its First Chief Commercial Officer - PRNewswire - November 4th, 2021 [November 4th, 2021]
- Xiaomi Smart Door Lock Xhome security with face recognition and a sleek design - Gadget Flow - November 4th, 2021 [November 4th, 2021]
- US Blacklists Israeli Spyware Companies Over Threat to National Security - The Daily Beast - November 4th, 2021 [November 4th, 2021]
- Remote Work Security: Handling Setbacks in the Time of COVID-19 - Security Intelligence - November 4th, 2021 [November 4th, 2021]
- World Series 2021 - The inside story of where Jorge Soler's home run went once it left Minute Maid Park - ESPN - November 4th, 2021 [November 4th, 2021]
- Ask a Broker: The importance of smart-home technology - Aspen Daily News - November 4th, 2021 [November 4th, 2021]
- Apple's Craig Federighi defends App Store in face of looming regulation - Mashable - November 4th, 2021 [November 4th, 2021]
- The eufy Floodlight Video Camera II provides 360 degrees of security coverage without breaking the bank - TechHive - November 4th, 2021 [November 4th, 2021]
- Worldwide Automotive Software Industry to 2026 - Safety and Security Software is Expected to Witness Faster Growth Rate - ResearchAndMarkets.com -... - November 4th, 2021 [November 4th, 2021]
- She would never just leave: Investigators look into if Mid-City moms disappearance related to financial investigation - KTLA Los Angeles - November 4th, 2021 [November 4th, 2021]
- Bring Alexa support to your home security with 54% off wansviews 1080p outdoor cam from $18 - 9to5Toys - July 2nd, 2021 [July 2nd, 2021]
- Members of Congress Are Spending More Than Ever on Security Mother Jones - Mother Jones - July 2nd, 2021 [July 2nd, 2021]
- Google Nest to Strengthen Its Commitment to Security by Testing Devices Against the ioXt Alliance's Global Security Standards - Business Wire - July 2nd, 2021 [July 2nd, 2021]
- Summer Wells investigators receive more than 700 tips about missing Tennessee girl - Fox News - July 2nd, 2021 [July 2nd, 2021]
- DIY Home Security Solutions Market Analytical Overview, Growth Factors, Demand and Trends Forecast to 2027 The Courier - The Courier - July 2nd, 2021 [July 2nd, 2021]
- Scant evidence that cyber insurance boom is leading to better security SC Magazine - SC Magazine - July 2nd, 2021 [July 2nd, 2021]