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A00830 | Pages: 200 | Charts: 70 | Tables: 180 |
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 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.
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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 an installation point of view. Thus, this factor is anticipated to hurt the market growth in the coming years.
The home security solutions market is segmented into Type, Solutions, Installation, and End Use.
The global home security solutions market is segmented based on 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 systems, alarm systems, access control systems, 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 homes, condominiums, and apartments. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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.
[TYPEGRAPH]
By solution, the access control system sub-segment is anticipated to show the fastest growth during the forecast period. Card readers, door locks, motorized 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.
[SOLUTIONSGRAPH]
By installation, the 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.
[INSTALLATIONGRAPH]
By end use, the 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.
[ENDUSEGRAPH]
By region, the North America region is projected to have the highest market share segment during the forecast period. This is due to new technology launches by major market players in the region.
[REGIONGRAPH]
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).
Key Market Segments
Key Market Players