Home Security Systems Market Overview Highlighting Major Drivers, Trends, Growth and Demand Report 2022- 2030
According to the most recent Emergen Research analysis, the global home security system market was worth USD 52.80 billion in 2021 and is expected to grow at an 8.3% CAGR during the forecast period. The growing awareness of home security systems, as well as the implementation of Artificial Intelligence (AI) and deep learning in home security systems, are driving revenue growth in the home security system market. Furthermore, the introduction of AI and deep learning, as well as the increasing pervasiveness of IoT-connected devices, are driving market revenue growth.
The home security systems market in India is gaining traction as a result of growing safety concerns and security reasons. The spotlight that the home security systems market trends are enjoying is largely based on market factors and growth strategies such as steps toward increasing awareness of these security systems and the momentum that the Internet of Things (IoT) is enjoying in everyday life. Furthermore, wireless technologies and increased adoption of IP cameras to promote video surveillance during pandemics will assist the market in making the best use of the growth drivers and opportunities available.
IoT-based security systems ensure user safety by sending immediate notifications. Smart sensing detects and alerts the user to changes in motion, heat, and sound. With the availability of a large volume of high-quality data, IoT makes devices more sophisticated. For example, the use of high-definition cameras, infrared vision, and night vision surveillance systems ensures that event details are available 24 hours a day, seven days a week. When there is actual movement, motion activation records and transmits the data. Digital video recording (DVR) devices assist in locating a clip of an event for a specific date and time within an entire recording. As a result, the introduction of IoT devices and effective wireless communication is expected to fuel the adoption of multi-functional home security systems.
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Some Key Highlights from the Report
In 2021, the video surveillance system segment generated the most revenue. Video surveillance is the best option for monitoring because it provides numerous advantages. Higher resolution and wider viewing angles are provided by digital video cameras. Furthermore, with a highly integrated digital video system, consumers can monitor activities on their surveillance feeds from anywhere in the world using mobile devices, computers, and tablets with an internet connection. They can also log in and access their security system, viewing live broadcasts or recorded footage, which are key benefits driving this segment’s revenue growth.
In 2021, Europe’s market accounted for the third-largest revenue share. The increasing number of collaborations and the introduction of new products by key European companies are driving market growth in this region. For example, Essence Group, a major developer of IoT solutions for the global security and care industries, will launch [email protected]+, a next-generation security and home management platform, on May 6, 2021. Essence is collaborating with European security service providers, including Securitas Direct Switzerland, to pilot the new product.
ADT, Resideo Technologies Inc, Johnson Controls, Hangzhou Hikvision Digital Technology Co., Ltd, Assa Abloy, Secom, LLC., Robert Bosch LLC., Allegion plc., Snap One, LLC., and ABB are among the major companies profiled in the global market report.
Resideo Technologies acquired First Alert, Inc., a provider of home safety products, in April 2022. Smoke alarms, carbon monoxide (CO) alarms, combination alarms, connected fire and CO devices, fire extinguishers, and other suppression solutions are all available from First Alert.
Emergen Research has segmented the global home security system market based on home type, security type, system type, and region:
Home Type Outlook (Revenue, USD Billion; 2019-2030)
- Independent Homes
Security Type Outlook (Revenue, USD Billion; 2019-2030)
- Professional-installed and Monitored
- Self-installed and Professionally Monitored
- Do-It-Yourself (DIY)
System Type Outlook (Revenue, USD Billion; 2019-2030)
- Fire Protection System
- Video Surveillance System
- Access Control System
- Entrance Control System
- Intruder Alarm System
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