Home Security System Market Size, Share, Growth (2020-2027)

Home Security System Market

The Home Security System Market is estimated to expand at a robust CAGR during the forecast period (2020-2027).

The factors driving the growth of Home Security System Market includes rise in the number of smart cities, increasing incidences of burglary and theft, improvements in network infrastructure and growing penetration of smartphones and laptops around the world. According to the report published by Bloomberg, the Global Smart Cities Market is predicted to reach USD 4,269.3 billion by the end of 2030, growing at CAGR of 17.3% over the forecast period (2020-2030), which is expected to boost the Home Security System Market share in the approaching years. Moreover, the growing awareness amongst consumers about home security systems, integration of advanced technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) and rapid growth in the number of criminal activities around the world, are some of the additional factors supplementing the Home Security System Market size. As per Statista, the number of reported theft cases in India, increased from 625,441 in 2018 to 674,414 in 2021, which is expected to boost the adoption of home security systems in India in the coming few years.

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However, the growth of Home Security System Market is hindered attributed to high maintenance and operational costs.

The leading players operating in the Home Security System Market are Allegion Plc, Wirepath Home Systems, LLC, Schneider Electric SE, Honeywell International Inc., ADT Inc., Johnson Controls International Plc, Comcast Corporation, Vivint, Inc., Robert Bosch GmbH, and Raytheon Technologies Corporation among others.

System – Segment Analysis

Based on System, the video surveillance systems segment is estimated to expand at a remarkable CAGR over the forecast period. The increasing demand for wireless cameras because they are easy to install can be provide recording footage at convenience, are some of the factors responsible for the growth of segment.

Service – Segment Analysis

Based on Service, the Fire Protection Service is projected to grow at a significant CAGR during the forecast period because they are useful for detecting gas leak, heat, and fire in case of nay emergency situation.

Application – Segment Analysis

Based on Application, the Do-It-Yourself (DIY) segment is anticipated to capture a sizeable market share over the forecast period attributed to growing demand for fire detectors, and cameras in the residential areas.

Regional – Segment Analysis

Based on Region, the North American region is estimated to grow at a steady CAGR during the forecast period. The increasing number of smart homes, presence of the key players such as Honeywell International Inc., and Johnson Controls International Plc, fall in the cases of theft and burglary due to growing adoption of home security systems and high per capita incomes, are some of the influencing factors augmenting the market growth.

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

  • Asia Pacific

    • China

    • Japan

    • India

    • Rest of APAC

  • North America

    • United States of America

    • Canada

  • Europe

    • United Kingdom

    • Germany

    • France

    • Spain

    • Rest of Europe

  • RoW

    • Brazil

    • South Africa

    • Saudi Arabia

    • UAE

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