Home Security Solutions Market Research, 2030
The global home security solutions market was valued at $48.1 billion in 2021, and is projected to reach $121.4 billion by 2030, growing at a CAGR of 10.56% from 2022 to 2030.
The home security solutions market is segmented into Type, Solutions, Installation and End Use.
The term ‘home security solutions’ refers to a system that helps people safeguard their homes against intruders. Installing home security systems appears to be the most effective approach to protect your house and family from intruders, robbery, theft, fire, and toxins. Video surveillance, access control, fire alarms, motion detectors, and other devices are included in home security solutions. Closed-circuit television is widely used to monitor the doors, corridors, and elevators in apartment complexes. The demand for these solutions is growing as a result of the increased need to prevent break-ins and track intruder movement throughout the property. Home incursion occurrences account for the majority of home safety incidents, affecting families all over the world.
The global demand for convenient, safe, and efficient access control systems in both residential and non-residential segments is likely to drive the home security solutions industry demand. As a result of the numerous criminal cases recorded around the world, such as theft, looting, and shootings, many people have placed security cameras at or near their homes. They can effortlessly monitor their home security while they are away from home. However, home security devices are costly from installation point of view. Thus, this factor is anticipated to have a negative impact on the market growth in the coming years.
The global home security solutions market is segmented on the basis of type, solutions, installation, end use, and region. Based on type, the market has been divided into hardware, software/platform, service, and others. Based on solutions, the analysis has been divided into video surveillance system, alarm system, access control system, and others. Based on installation, the analysis has been divided into professionally installed and do-it-yourself (DIY). Based on end-use, the analysis has been divided into independent home, condominium, and apartments. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the leading home security solutions market players are, Johnson control (Tyco Security Products), Nortek Security and Control, Honeywell International Inc, ASSA ABLOY, ADT LLC DBA ADT SECURITY SERVICES, Vivint, Inc., Bosch GmbH, MOBOTIX, Alarm.com Incorporated, and Brinks Home Security (MONI Smart Security).
By type, software or platform type sub-segment is predicted to have the maximum market share in the forecast period. The sub-segment’s growth would be mainly because many companies have introduced new features in the security software, thereby, ensuring maximum safety for its customers, resulting in higher demand.
By solution, access control system sub-segment is anticipated to show the fastest growth during the forecast period. Card readers, door locks, motorised gates, and other devices that can be used to gain entrance to a guarded residence make up access control systems. Players all over the world are developing and modifying technologies to meet consumer expectations while also ensuring security and resilience against break-ins, robberies, and other threats.
By installation, do-it-yourself (DIY) sub-segment is anticipated to have the fastest growth during the forecast period. The escalating costs and high installation fees of professional home security system installations have increased demand for do-it-yourself installations among the general public.
By end use, independent homes sub-segment is predicted to be the most dominant sub-segment owing to increased security concerns for residential places, due to rapidly increasing cases of theft in independent homes. This factor is anticipated to boost the home security solutions market size in the upcoming years.
By region, North America region is projected have highest market share segment during the forecast period. This is due to new technology launches by major market players in the region.
IMPACT OF COVID-19 ON THE GLOBAL HOME SECURITY SOLUTIONS MARKET
- The COVID-19 pandemic has changed the way people and business work throughout the world. Individuals are compelled to spend more time indoors as a result of the pandemic, and customers are reinvesting in their homes. Of course, numerous residential security solutions and smart home firms that supply both goods and services have benefited from this. Consumers are looking for a better approach to protect themselves and their loved ones.
- COVID-19 pandemic has negatively impacted the economical health of people, worldwide. Hence, to make the ends meet, some people opted for wrong deeds. Hence, increased cases of theft and burglary has raised the concern for home security.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the global home security solutions market trends along with the current and future market forecast.
- This report highlights the key drivers, home security solutions market opportunity, and restraints of the market along with the impact analyses during the forecast period.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global home security solutions market for strategy building.
- A comprehensive global home security solutions market share analysis covers factors that drive and restrain the home security solutions market growth are comprehensively analyzed in this report.
- The qualitative data in this report aims on home security solutions industry in terms of dynamics, developments, and home security solutions market forecast scenario are covered. In addition, various home security solutions market analysis covering wise home solutions, home video surveillance, home video surveillance cameras are portrayed in this research report.
Home Security Solutions Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Solutions |
|
 By Installation |
|
 By End Use |
|
 By Region |
|
 Key Market Players | Brinks Home, Robert Bosch GmbH, Assa Abloy, Control4 Corporation, Allegion Plc, United Technologies Corporation, Nortek Security & Control LLC, Honeywell International Inc, Alarm.com, Johnson Controls, Inc. (Tyco Security Products) |
Analyst Review
Continuous increase in the demand for security devices like cameras for increase residential security is expected to drive the growth of home security solution market. However, high cost of these security devices is a major limitation to the market growth. Surge in demand additional and advanced security solutions for homes is expected to drive the market growth in future. According to the analysts, Asia-Pacific is projected to register fast growth as compared to North American and European markets.
The technological advancements in the home security solutions market and the growing need for improved safety and security systems such as CCTV cameras, electronic alarm sensors, and other similar devices are the upcoming trends in the market.
Home security solutions are widely adopted by societies and apartment complexes to boost security protocol and communication.
North America is the largest regional market for the home security solutions market.
The home security solutions market is anticipated to reach $121.4 billion by 2030.
The top companies in the home security solutions market are Johnson control (Tyco Security Products), Nortek Security and Control, and Honeywell International Inc.
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