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Home Security Systems Market Trends

ID: MRFR//5121-HCR | 100 Pages | Author: Aarti Dhapte| May 2024

Global Home Security Systems Market Overview:

Home Security Systems Market Size was valued at USD 50.4 Billion in 2023. The Home Security Systems industry is projected to grow from USD 54.0 Billion in 2024 to USD 92.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.0% during the forecast period (2024 - 2032). A rise in criminal activity, technological development in remote monitoring using smartphones and rising interest in smart houses are the key market drivers enhancing the home security systems market growth. 

Global Home Security Systems Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Home Security Systems Market Trends

  • Significant Market Growth is anticipated for the Access Control System market

Access control systems limit access to protected portions of a home, building, drawer, or other location that contains valuables, data, or sensitive information. These automated solutions offer 24/7 access as well as 24/7 protection. Entry control systems are becoming more widely used in home security because they provide quick and easy access to a designated individual while recording and monitoring visitors' movements.

The home security systems market is seeing its fastest-ever advancement and evolution of access control technologies. And the widespread use of these systems for home security is a result of the demand for improved security brought on by emerging dangers, a rise in smart homes, and rising liability. Source: Secondary Research, Primary Research, MRFR Database and Analyst Review.

Figure 1: Bluetooth smart Home Device shipment share, in% by (2021-2022)Bluetooth smart Home Device shipment share, in% by (2021-2022)

Additionally, most homeowners' access control systems merely include a deadbolt lock on the front and back doors of the house and a key-locking door handle. But sliding glass doors and similar doors are secured by a toggle lock, which could be more burglar-proof. The security of homes may be improved by adding more access control security to these areas. Such events may increase the need for access control systems to increase home security. Various access control systems can lock and unlock doors from home security systems market manufacturers. This feature is becoming increasingly popular for home security throughout the globe.

According to FBI data on home burglaries, a house burglary happens every 13 seconds, four every minute, 240 per hour, and over 6,000 per day. As opposed to one in every 250 homes with security systems, it also claims that one in three homes without security systems may experience a burglary. Additionally, modern home security systems are widely used due to several advantages. The unmatched connection, control, and accessibility of the current generation of home security solutions, together with the capability for homeowners to remotely access numerous tasks using a PC or a smartphone, are fueling this segment's sales development.

Home Security Systems Market Segment Insights:

Home Security Systems Product Insights

Based on Product, the Home Security Systems market segmentation includes Cameras, Sensors, Biometrics, and Smart Cards. In 2022, the market for home security systems services will be dominated by the need for cameras. The appropriate installation of hardware items, such as smart locks, controllers and readers, emergency security systems, and monitoring tools like TVs and PDAs, is part of a home security system that uses cameras. System integration may include allowing these devices to connect and send communication signals.

Home Security Systems Type Insights

Based on Type, the Home Security Systems market segmentation includes Video Surveillance solutions, Medical Alert systems. In terms of systems, the home security systems market is anticipated to be dominated by the segment of video surveillance systems in 2022. The video surveillance system provides security, monitoring, and analysis of suspicious movements of people over a perimeter is one of its main advantages. The hardware components of video surveillance systems, including cameras, displays, servers, storage units, and other accessories, make up a sizable portion of the systems. The hardware goods now on the market are both economical and cutting-edge in terms of technology. One of the most current and appealing innovations in the video surveillance industry is high-definition (HD) cameras, panoramic cameras, and body-worn or spy cameras.

Figure 2: Home Security Systems Market, by Type, 2021 & 2030 (USD Million)Home Security Systems Market, by Type, 2021 & 2030

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Home Security Systems Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. Asia Pacific Home Security Systems market accounted for USD 18.79 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. China's security industry has been growing for more than 40 years. The application sectors for the security system have significantly expanded in recent years after initially only being used in a small number of specialized units and departments. Cameras are everywhere, and the Chinese security industry has seen significant changes. In the previous two decades, the market has grown fast. Due to the country's considerable Growth in industrial capacity and rising consumer expenditure, China's society and economy have undergone tremendous upheaval. China is a prominent producer of both consumer and industrial goods. China is now outpacing other economies in market growth for the consumption of products and services.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Home Security Systems Market, by Region, 2021 & 2030 (USD Million) Home Security Systems Market, by Region, 2021 & 2030

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The market for North America home security systems in generated $10,041.50 million in sales in 2021 and is anticipated to reach $28,374.40 million in revenue by 2030. This is mostly attributable to the pandemic in 2020 and the rapid technological advancements that have increased the Home Security Systems industry in the North American area. Additionally, top competitors like Vivint, Inc have a strong presence. One of the main forces behind the expansion of home security systems is ADT LLC. For instance, ADT LLC, doing business as ADT Security Services, has more than eight million clients in North America. The market demand is rising due to the rising acceptance of DIY installation solutions and the demand for home security systems. Moreover, the US Home Security Systems market held the largest market share, and the Canada Home Security Systems market was the fastest-growing market in the Asia-Pacific region.

Due to a greater incidence of urbanization and a booming building industry, Europe's Home Security Systems market holds the third-largest market share. It is a major contributor to this area's overall home security systems market growth. The Region's economic expansion and technical improvements are two reasons that are anticipated to boost demand for security systems. In the upcoming years, the market for residential fire prevention systems is anticipated to increase faster than in the construction and real estate sectors. Moreover, the UK Home Security Systems market held the largest market share, and the Germany Home Security Systems market was the fastest-growing market in the Asia-Pacific region.

Home Security Systems Key Market Players & Competitive Insights

Major market players are investing a lot of money in R&D to expand their product portfolios, which will spur further market growth for the Home Security Systems market. With significant industry changes, including new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. Home Security Systems industry competitors must provide affordable products to grow and remain in a market that is becoming more competitive.

Manufacturing locally to cut operational costs is one of the main business tactics used by the Home Security Systems industry to serve customers and increase the market sector. The Home Security Systems industry has recently given medicine some of the most important advantages. The Home Security Systems markets major players such as Medtronic Inc (Ireland), Abbott Laboratories (US), Stryker Corporation (US), and others are working on expanding the market demand by investing in research and development activities.

ADT and HHHunt, Inc., a diversified real estate development company, announced their collaboration in February 2020. Through this relationship, home automation and security solutions are now more prevalent in both new and existing multifamily and student housing complexes in the United States. The smart houses' smart home security systems will incorporate items like smart locks, smart hubs, and smart thermostats. This agreement will provide consumers in the United States with personalized smart security solutions, accelerating market expansion.

Vivint is a publicly traded smart home firm in the United States and Canada. In 1999, Keith Nellesen and Todd Pedersen started it. Keith Nellesen and Todd Pedersen established APX Alarm Security Solutions in Provo, Utah. [3][4] The business sold and installed security systems during that time. Vivint, Inc. introduced the Vivint Doorbell Camera Pro in March 2020. This updated camera model is the first to offer a 1:1 aspect ratio and a 180-degree vertical and horizontal view. This camera combines optics, deterrent features, and intelligence to meet client demands.

Key Companies in the Home Security Systems market include















Home Security Systems Industry Developments

  • April 2024- SimpliSafe's expert home monitoring services, one of the perfect choices for DIY home security systems, are getting an AI upgrade to assist a friend from a foe. The outdoor security camera technology, disclosed on 23rd February, will enable the user to save profiles and enhance the precision of its monitor response. These AIadditions accompany SimpliSafe's 24/7 Live Guard package. In various home-monitoring services, home-monitoring workers are alarmed when a contact sensor is tripped or a similar signal is sent. SimpliSafe's methodology succeeds a little contrarily. The organization's guards get camera alerts when an armed system identifies a human-shaped something. That enables guards to peer through the camera's live view and witness what's going on before any contact sensors are tripped (or windows broken, etc.). Now, they're getting assistance from AI recognition, too. The AI-powered service is utilized to fit outdoor cameras that are part of SimpliSafe systems. When the system is fully armed and seeing, these cameras- ideally concentrating on key spots like paths, porches, drives, and doors – utilize basic object recognition to identify when people draw close. The latest AI service adds an extra layer of identification, allowing users to save certain profiles and recognize certain people's faces. These profiles can assist in classifying family, friends, and repeated visitors of all categories. The cameras will disregard these friendly faces, lowering excessive guard alerts. The latest AI option will arrive later in 2024 as part of SimpliSafe's current Fast Protect approach to home security. At present, SimpliSafe is occupied with transporting the technology to privileged customers in an Early Access program, which means the user may be overhearing from it if the user has a SimpliSafe system with a connected camera.

  • June 2023: The round the clock live guard protection & the Smart Alarm Wireless Indoor Security Camera have been released, according to SimpliSafe, a manufacturer of award-winning smart home security systems. The new Smart Alarm Indoor Camera's industry-first professional monitoring capability, which enables monitoring agents to observe and communicate directly with intruders, can aid in real-time crime prevention. The Smart Alarm Indoor Camera is the first home security camera with an AI-powered motion sensor that activates an in-built siren when the unusual motion gets detected1, in addition to live agent vocal assistance, serving as an additional deterrent to burglars.

  • May 2023: Roku has caught on to the DIY trend in home security as it expands into the smart home market with the release of its latest Roku Home Monitoring System SE. Other new products for the Roku Smart Home range include Roku Smart Light Strip+ SE & Solar Panel. The five-piece security system, which was developed in collaboration with Wyze Labs, costs just $99 and comes with two entrance sensors, motion sensor, hub with an integrated siren, and a keypad to activate and disable it. This kit is a simple-to-use solution that may provide consumers with the security they require.

  • March 2023: Google and ADT have joined to make their selection of smart home devices available through the new ADT Self Setup DIY home security system. With the special bundle, you may add any of a number of Google devices to your house, and each one comes with full support for the brand-new ADT+ smartphone app. The alliance aims to provide top Google goods along with ADT's customer care and security. The Nest Cam, Nest Doorbell, Nest Mini, Nest Thermostat, Nest Hub Max, and a number of first-party ADT devices including the ADT Motion Sensor & ADT Smart Home Hub may all be added to the ADT Self Setup system.

  • November 2022: The Arlo Home Security System was launched by Arlo Technologies Inc. The system contains a unique multi-sensor that can carry eight sensing tasks. Users have access to highly skilled security professionals who monitor and respond to crises thanks to the system's integration with Arlo's new 24/7 professional monitoring service.

  • June 2022: The Simply Secure 24 plan from Rhythm Energy is a new package that offers Texans a fixed-rate energy plan plus a complete home security system from SimpliSafe.

Home Security Systems Market Segmentation:

Home Security Systems Product Outlook

  • Cameras

  • Sensors

  • Biometrics

  • Smart Cards

Home Security Systems Type Outlook

  • Video Surveillance Solution

  • Medical Alert System

Home Security Systems Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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