Home Security Systems Market by Home Type (Independent Homes, Apartments), Security (Professionally Installed & Monitored, Do-It-Yourself), Systems (Access Control Systems), Services (Security System Integration Services), Region (2022-2027)
[170 Pages Report] The global home security systems market size is expected to grow from USD 56.9 billion in 2022 to USD 84.4 billion by 2027, at a CAGR of 8.2% during the forecast period. The growth of the home security systems market is driven by factors such as growing awareness regarding home security systems and the emergence of the Internet of Things (IoT) and wireless technologies .
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Covid-19 Impact on Home Security System Market
The pandemic COVID-19 severely impacted the growth of the global home security systems market in 2020. Global sales declined by 5–10% in 2020 owing to disruptions in manufacturing and temporary closure of non-essential transport. The impact of COVID-19 on major markets such as the US and China has been significantly adverse, as supply chain disruption in China resulted in a decline in the demand for home security systems. The decrease in the number of new construction projects and the closure of manufacturing facilities are some of the factors affected the demand in China. However, the market recovered in 2021, with the US and China expected to remain the major countries in the home security systems market.
Market Dynamics
Drivers : The emergence of the Internet of Things (IoT) and wireless technologies
IoT-based security systems ensure safety through the immediate notifications sent to users. The smart sensing detects variances in motion, heat, and sound and alerts the user. IoT makes the devices more sophisticated with the availability of a large volume of high-quality data. For instance, the use of high-definition cameras and infrared vision and night vision surveillance systems ensure the 24×7 availability of the details of any event. Motion activation records and transmits the data when actual movement happens. Digital video recording (DVR) devices help locate the clip of an event for a particular date and time from the entire recording. Thus, the introduction of IoT devices and effective wireless communication are expected to fuel the adoption of home security systems with multi-functional security options.
Restraints : High installation, maintenance, and operational costs
The adoption of home security solutions is significantly affected by the cost associated with the hardware, software, and services behind implementation of security system. The upfront installation cost in a professinalliy installed system is higher owing to expensive hardware and consultation charges. The cost of ownership too is high as the system requires timely maintenance, involves subscription fees, and replacement cost in case of any damages. Typical subscription fees charged by third-party monitoring players ranges from USD 150 to USD 1,500. Additionally, software powered with advanced analytics features are expensive and adds up to overall cost of the system.
Opportunities : Implementation of artificial intelligence (AI) and deep learning in home security systems
The AI has paved the way for automated health assessment and medical alert systems to be integrated with a complete home security system. The cognitive and physical health monitoring of the residents is also gaining traction, especially home-based monitoring of the elderly, besides increased adoption of home security systems for video surveillance, hazard detection, and access control applications. The cognitive analysis based on AI gathers and analyzes information regarding the occupant’s activities and health status. It also analyzes the behavioral and physiological patterns and the medical history of individuals to ensure safety. An in-home medical alert system consists of a base station and wireless remote devices, such as pendants, bracelets, or belt clips. The remote devices analyze personal behavior, detect the emergency, and send a signal to the base station. The base station then conveys the situation to the required authorities. The medical alert system is also helpful when kids are left alone at home and when special attention is needed with an existing critical medical condition. When used as an integrated part of the home security system, a medical alert system helps in several other ways. For instance, it can also be used to alert the monitoring station in case of other emergencies, such as burglary, intrusion, and gas leaks.
Challenges : System complexity
The home security systems are becoming complex, with the elevating number of discrete devices connected on a common platform. The integration of different devices, with varying levels of compatibilities, on a single platform, is the major design issue with security systems. The home security systems use a wide range of sensors, actuators, and other wireless devices, which generate a large volume of data. The real-time monitoring and control using the generated data create data traffic. In addition, the communication protocols, hardware, and computation resources in wireless sensor networks impose bottlenecks for seamless connectivity as well as data-handling capability. To overcome these challenges, an extensive processing of data and effective communication of the processed data with all the system components play a vital role. Another aspect of consideration is the development of energy-efficient devices for long-term monitoring and portable applications. Effective designing systems with low-power components and efficient batteries is the key challenge to achieving energy harvesting. Thus, the variations in the design and development of these platforms lead to system complexities.
Video Surveillance Systems to dominate the home security systems market
The video surveillance systems segment is expected to hold the largest share of the home security systems market by systems in 2022. One of the major benefits of the video surveillance system is that it offers security, monitoring, and analysis of suspicious movements of persons over a perimeter. Hardware products—such as cameras, monitors, servers, storage units, and other accessories—form a major part of the video surveillance systems. The hardware products that are currently available in the market are cost effective and technologically advanced. High-definition (HD) cameras, panoramic cameras, and body-worn or spy cameras are among the most recent and attractive trends in the video surveillance market.
Security system integration services to dominate the market in 2022
The demand for home security systems integration services to dominate the home security systems market by services in 2022. Security system integration includes the proper installation of hardware products, including smart locks, controllers and readers, emergency security systems, and monitoring devices such as TVs and PDAs. According to the situation, the system integration includes enabling all such devices to connect and transmit communication signals. Various communication technologies used in the security system include NFC, ZigBee, Bluetooth Smart, and Wiegand 32 bit. The security system integration services also include integrating such technologies with the existing security solutions such as access control systems and intruder alarm management systems.
North America to hold the largest share of the home security systems market in 2027
The region is at the forefront of implementing access control systems to improve safety measures and security. The companies operating in the US, Canada, and Mexico are increasing their expertise in access control systems to offer innovative technologies and services in this segment to gain a competitive advantage over competitors from other countries and increase their shares in the access control systems market. The mandatory fire protection and safety regulations in North America have encouraged the builders to implement fire protection systems in their building structures. Several fire protection systems and equipment manufacturers in this region offer smoke detectors, flame detectors, heat detectors, sprinklers, extinguishers, fire alarms, sirens, control panels and interfaces, fire analysis software, and many other systems. North America is a pioneer in the adoption of video surveillance safety. There is constant progress in the adoption of new technologies, such as the IP-based video surveillance system.
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Key Market Players
The major players operating in the home security systems market are ADT (US), Resideo Technologies, Inc. (US), Johnson Controls (Ireland), Hangzhau Hikvision Digital Technology (China), and ASSA ABLOY (Sweden). A few of the major strategies adopted by these players to compete in the home security systems market include product
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|
Report Metric |
Detail |
|
Market Size Availability for Years |
2018–2027 |
|
Base Year |
2021 |
|
Forecast Period |
2022–2027 |
|
Forecast Units |
Value (USD) |
|
Segments Covered |
By home type, security, systems, and services |
|
Geographies Covered |
North America, Europe, APAC, and RoW |
|
Companies Covered |
ADT (US), Resideo Technologies, Inc. (US), Johnson Controls (Ireland), Hangzhau Hikvision Digital Technology (China), ASSA ABLOY (Sweden), SECOM (Japan), Robert Bosch (Germany), Allegion (Ireland), Snap One, LLC (US), ABB (Switzerland) are the key players in the home security systems market. A total of 20 players are covered. |
This research report categorizes the home security systems market, by home type, security, systems, services, and region
By Home Type:
- Independent Homes
- Condominiums/ Apartments
By Security:
- Professional-installed and Monitored
- Self-installed and Professionally Monitored
- Do-It-Yourself (DIY)
By Systems:
- Fire Protection System
- Video Surveillance System
- Access Control System
- Entrance Control System
- Intruder Alarm System
By Services:
- Security System Integration Services
- Remote Monitoring Services
- Fire Protection Services
- Video Surveillance Services
- Access Control Services
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Rest of Europe
- Asia Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of APAC
- Rest of the World (RoW)
- Middle East
- Africa
- South America
Recent Developments
- In April 2022, Resideo Technologies acquired First Alert, Inc., a provider of home safety products. First Alert offers a comprehensive portfolio of detection and suppression devices, including smoke alarms, carbon monoxide (CO) alarms, combination alarms, connected fire and CO devices, fire extinguishers, and other suppression solutions.
- In March 2022, ASSA ABLOY signed an agreement to acquire JOTEC Service & Vertriebsgesellschaft mbh, a regional leading industrial door distributor and service. The acquisition is aimed at strengthening Assa Abloy's offering in entrance automation.
- In January 2022, Snap One acquired long-time Canadian distribution partner Staub Electronics to enhance the partner experience throughout Canada and expand the company’s North American local branch footprint.
Frequently Asked Questions (FAQ):
What is the current size of the global home security system market?
The global home security systems market size was valued at USD 52.3 billion in 2021 and is expected to reach USD 84.4 billion by 2027, at a CAGR of 8.2% during the forecast period.
Which security type show promising growth opportunity the home security system market?
The market for Do-it-Yourself (DIY) security systems is expected to grow at the highest CAGR during the forecast period. A significant customer base of home security systems prefer cost-effective products with a remote monitoring facility to optimize as per their security requirements. Some of such security systems can be customized and upgraded with additional features by customers as and when they require. Thus, with DIY option suitable for many customers, its adoption is expected to drive the growth of home security systems market.
Who are the winners in the home security system market?
The major players in the global home security systems market are ADT (US), Resideo Technologies, Inc. (US), Johnson Controls (Ireland), Hangzhau Hikvision Digital Technology (China), and ASSA ABLOY (Sweden).
What are the upcoming trends in the home security system market?
Integration across many of the emerging devices for home security and general concerns about cyber threats and in-house data security of home hardware systems complement the adoption of cloud computing. Cloud-based systems offer a safer data storage alternative to on-premises server recording and storage and reduce the chances of devices being rendered inoperable through software issues. They offer user-friendly services and remote access and monitoring without any additional cost. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 27)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION AND SCOPE
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 HOME SECURITY SYSTEMS MARKET: SEGMENTATION
1.3.2 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 31)
2.1 RESEARCH DATA
FIGURE 2 RESEARCH FLOW
FIGURE 3 HOME SECURITY SYSTEMS MARKET: RESEARCH DESIGN
2.1.1 SECONDARY AND PRIMARY RESEARCH
2.1.2 SECONDARY DATA
2.1.2.1 Key data from secondary sources
2.1.3 PRIMARY DATA
2.1.3.1 Key data from primary sources
2.1.3.2 Key industry insights
2.1.3.3 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for arriving at market size through bottom-up analysis (demand side)
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for capturing the market size by top-down analysis (supply side)
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 6 HOME SECURITY SYSTEMS MARKET: SUPPLY-SIDE APPROACH
2.3 MARKET BREAKDOWN & DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY (Page No. - 41)
FIGURE 8 HOME SECURITY SYSTEMS MARKET, 2018–2027 (USD BILLION)
FIGURE 9 MARKET FOR CONDOMINIUMS/APARTMENTS TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 10 MARKET FOR DIY SYSTEMS TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 11 MARKET SHARE (%), BY OFFERING, 2022 & 2027
FIGURE 12 NORTH AMERICA TO DOMINATE HOME SECURITY SYSTEMS MARKET BETWEEN 2022–2027, BY REGION
4 PREMIUM INSIGHTS (Page No. - 46)
4.1 ATTRACTIVE OPPORTUNITIES IN HOME SECURITY SYSTEMS MARKET
FIGURE 13 INTEGRATION OF AI AND DEEP LEARNING IN HOME SECURITY SYSTEMS TO OFFER ATTRACTIVE GROWTH OPPORTUNITIES DURING FORECAST PERIOD
4.2 HOME SECURITY SYSTEMS MARKET, BY SYSTEM
FIGURE 14 VIDEO SURVEILLANCE SYSTEM SEGMENT TO HVE HIGHEST GROWTH FROM 2022 TO 2027
4.3 MARKET, BY SYSTEMS AND COUNTRY
FIGURE 15 VIDEO SURVEILLANCE SYSTEM SEGMENT AND US HELD LARGEST SHARES OF MARKET IN 2021
4.4 US ACQUIRED LARGEST SHARE OF HOME SECURITY SYSTEMS MARKET IN 2021
FIGURE 16 HOME SECURITY SYSTEMS MARKET IN CHINA TO INFLUENCE HIGHEST GROWTH FROM 2022 TO 2027
5 MARKET OVERVIEW (Page No. - 48)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 17 HOME SECURITY SYSTEMS MARKET: DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Emergence of Internet of Things (IoT) and wireless technologies
5.2.1.2 Growing awareness regarding home security systems
FIGURE 18 HOME SECURITY SYSTEMS MARKET: IMPACT ANALYSIS OF DRIVERS
5.2.2 RESTRAINTS
5.2.2.1 High installation, maintenance, and operational costs
5.2.3 OPPORTUNITIES
5.2.3.1 Implementation of artificial intelligence (AI) and deep learning in home security systems
5.2.3.2 Worldwide proliferation of smart cities initiative
FIGURE 19 HOME SECURITY SYSTEMS MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
5.2.4 CHALLENGES
5.2.4.1 System complexity
5.2.4.2 Privacy of highly confidential information
FIGURE 20 MARKET: IMPACT ANALYSIS OF RESTRAINTS AND CHALLENGES
5.3 VALUE CHAIN ANALYSIS
FIGURE 21 ORIGINAL EQUIPMENT MANUFACTURERS ADD MAXIMUM VALUE TO VALUE CHAIN OF HOME SECURITY SYSTEMS MARKET
5.4 EMERGING TRENDS
5.4.1 INCREASING ADOPTION OF CLOUD TECHNOLOGIES FOR SMART SURVEILLANCE
6 HOME SECURITY SYSTEMS MARKET, BY SYSTEMS (Page No. - 55)
6.1 INTRODUCTION
TABLE 1 MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 2 MARKET, BY TYPE, 2022–2027 (USD BILLION)
6.2 SYSTEMS
FIGURE 22 VIDEO SURVEILLANCE SYSTEM SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 3 HOME SECURITY SYSTEMS MARKET, BY SYSTEMS, 2018–2021 (USD BILLION)
TABLE 4 HOME SECURITY SYSTEMS MARKET, BY SYSTEMS, 2022–2027 (USD BILLION)
6.3 FIRE PROTECTION SYSTEM MARKET
6.3.1 DEVELOPMENT OF INNOVATIVE AND EFFICIENT SYSTEMS TO BOOST GROWTH OF FIRE PROTECTION SYSTEMS MARKET
TABLE 5 MARKET FOR FIRE PROTECTION SYSTEM, BY REGION, 2018–2021 (USD MILLION)
TABLE 6 MARKET FOR FIRE PROTECTION SYSTEM, BY REGION, 2022–2027 (USD MILLION)
TABLE 7 MARKET FOR FIRE PROTECTION SYSTEM, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 8 MARKET FOR FIRE PROTECTION SYSTEM, BY COMPONENT, 2022–2027 (USD MILLION)
6.3.1.1 Hardware
6.3.1.1.1 Market for fire alarm devices to register highest CAGR
TABLE 9 MARKET FOR FIRE PROTECTION SYSTEM, BY DEVICE, 2018–2021 (USD MILLION)
TABLE 10 MARKET FOR FIRE PROTECTION SYSTEM, BY DEVICE, 2022–2027 (USD MILLION)
6.3.1.1.2 Fire sprinklers
6.3.1.1.3 Fire extinguishers
6.3.1.1.4 Secure communication products
6.3.1.1.5 Sensors and detectors
6.3.1.1.6 Radiofrequency identification (RFID)
6.3.1.1.7 Fire alarm devices
6.3.1.1.8 Emergency lighting
6.3.1.1.9 Voice evacuation and public products
6.3.1.1.10 Others
6.3.1.2 Software
6.3.1.2.1 Increasing adoption of fire modeling and simulation software to fuel market growth
TABLE 11 MARKET FOR FIRE PROTECTION SYSTEM, BY SOFTWARE, 2018–2021 (USD MILLION)
TABLE 12 MARKET FOR FIRE PROTECTION SYSTEM, BY SOFTWARE, 2022–2027 (USD MILLION)
6.3.1.2.2 Fire mapping & analysis software
6.3.1.2.3 Fire modeling & simulation software
6.4 VIDEO SURVEILLANCE SYSTEMS
6.4.1 INCREASING DEMAND FOR REAL-TIME MONITORING AND PERIMETER SURVEILLANCE
TABLE 13 HOME SECURITY SYSTEMS MARKET FOR VIDEO SURVEILLANCE SYSTEM, BY REGION, 2018–2021 (USD MILLION)
TABLE 14 MARKET FOR VIDEO SURVEILLANCE SYSTEM, BY REGION, 2022–2027 (USD MILLION)
TABLE 15 MARKET, FOR VIDEO SURVEILLANCE SYSTEM, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 16 MARKET, FOR VIDEO SURVEILLANCE SYSTEM, BY COMPONENT, 2022–2027 (USD MILLION)
6.4.1.1 Hardware
6.4.1.1.1 Growing demand for IP cameras to push market demand for video surveillance systems
TABLE 17 HOME SECURITY SYSTEMS MARKET FOR VIDEO SURVEILLANCE SYSTEM, BY HARDWARE TYPE, 2018–2021 (USD MILLION)
TABLE 18 MARKET FOR VIDEO SURVEILLANCE SYSTEM, BY HARDWARE TYPE, 2022–2027 (USD MILLION)
6.4.1.1.2 Camera
TABLE 19 HOME SECURITY SYSTEMS MARKET FOR VIDEO SURVEILLANCE SYSTEM, BY CAMERA TYPE, 2018–2027 (USD MILLION)
TABLE 20 MARKET FOR VIDEO SURVEILLANCE SYSTEM, BY CAMERA TYPE, 2022–2027 (USD MILLION)
6.4.1.1.2.1 IP cameras
6.4.1.1.2.2 Analog cameras
6.4.1.1.3 Monitors
6.4.1.1.4 Server
6.4.1.1.5 Storage
6.4.1.1.6 Others
6.4.1.2 Software
6.4.1.2.1 Market for video management software to exhibit highest CAGR
TABLE 21 HOME SECURITY SYSTEMS MARKET FOR VIDEO SURVEILLANCE SYSTEM, BY SOFTWARE, 2018–2021 (USD MILLION)
TABLE 22 MARKET FOR VIDEO SURVEILLANCE SYSTEM, BY SOFTWARE, 2022–2027 (USD MILLION)
6.4.1.2.2 Video analytics software
6.4.1.2.3 Video management software (VMS)
6.4.1.2.4 Neural networks and algorithms
6.5 ACCESS CONTROL SYSTEMS
6.5.1 INCREASING DEPLOYMENT OF CONTROLLERS AND SERVERS TO AMPLIFY MARKET FOR ACCESS CONTROL SYSTEMS
TABLE 23 MARKET FOR ACCESS CONTROL SYSTEM, BY REGION, 2018–2021 (USD MILLION)
TABLE 24 MARKET FOR ACCESS CONTROL SYSTEM, BY REGION, 2022–2027 (USD MILLION)
TABLE 25 MARKET FOR ACCESS CONTROL SYSTEM, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 26 MARKET FOR ACCESS CONTROL SYSTEM, BY COMPONENT, 2022–2027 (USD MILLION)
6.5.1.1 Hardware
6.5.1.1.1 Rising demand for access control hardware in residential projects
TABLE 27 HOME SECURITY SYSTEMS MARKET FOR ACCESS CONTROL SYSTEM, BY DEVICE, 2018–2021 (USD MILLION)
TABLE 28 MARKET FOR ACCESS CONTROL SYSTEM, BY DEVICE, 2022–2027 (USD MILLION)
6.5.1.1.2 Controller/server
6.5.1.1.3 Card readers
TABLE 29 HOME SECURITY SYSTEMS MARKET FOR ACCESS CONTROL CARDS AND READERS, BY TYPE, 2018–2021 (USD MILLION)
TABLE 30 MARKET FOR ACCESS CONTROL CARDS AND READERS, BY TYPE, 2022–2027 (USD MILLION)
6.5.1.1.3.1 Magnetic strip readers
6.5.1.1.3.2 Proximity card & readers
6.5.1.1.3.3 Smart cards & readers
6.5.1.1.4 Biometrics
6.5.1.1.5 Electronic locks
TABLE 31 MARKET FOR ACCESS CONTROL ELECTRONIC LOCKS, BY TYPE, 2018–2021 (USD MILLION)
TABLE 32 MARKET FOR ACCESS CONTROL ELECTRONIC LOCKS, BY TYPE, 2022–2027 (USD MILLION)
6.5.1.1.5.1 Electromagnetic locks
6.5.1.1.5.2 Electric strike locks
6.5.1.1.5.3 Wireless locks
6.5.1.1.6 Multi-technology readers
6.5.1.2 Software
6.5.1.2.1 Rising deployment of access control software in new building projects to propel market during forecast period
6.6 ENTRANCE CONTROL SYSTEMS
6.6.1 INCREASING ADOPTION OF INTEGRATED ENTRANCE CONTROL SYSTEMS IN APARTMENTS AND CONDOMINIUMS
TABLE 33 MARKET FOR ENTRANCE CONTROL SYSTEM, BY REGION, 2018–2021 (USD MILLION)
TABLE 34 MARKET FOR ENTRANCE CONTROL SYSTEM, BY REGION, 2022–2027 (USD MILLION)
6.7 INTRUDER ALARM
6.7.1 INCREASING CRIME RATE AND THEFTS TO POSITIVELY INFLUENCE DEMAND FOR INTRUDER ALARMS
TABLE 35 HOME SECURITY SYSTEMS MARKET FOR INTRUDER ALARM, BY REGION, 2018–2021 (USD MILLION)
TABLE 36 MARKET FOR INTRUDER ALARM, BY REGION, 2022–2027 (USD MILLION)
7 HOME SECURITY SYSTEMS MARKET, BY SERVICES (Page No. - 79)
7.1 INTRODUCTION
FIGURE 23 VIDEO SURVEILLANCE SERVICES SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 37 HOME SECURITY SYSTEMS MARKET, BY SERVICES, 2018–2021 (USD MILLION)
TABLE 38 MARKET, BY SERVICES, 2022–2027 (USD MILLION)
TABLE 39 MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 40 MARKET, BY REGION, 2022–2027 (USD MILLION)
7.2 SECURITY SYSTEM INTEGRATION SERVICES
7.2.1 INCREASING ADOPTION OF SECURITY SYSTEM INTEGRATION BY ACCESS CONTROL SERVICE PROVIDERS
TABLE 41 SECURITY SYSTEM INTEGRATION SERVICES MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 42 SECURITY SYSTEM INTEGRATION SERVICES MARKET, BY REGION, 2022–2027 (USD MILLION)
7.3 REMOTE MONITORING SERVICES
7.3.1 COST-EFFECTIVE USER INTERFACES PROVIDED BY REMOTE MONITORING SERVICES
TABLE 43 REMOTE MONITORING SERVICES MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 44 REMOTE MONITORING SERVICES MARKET, BY REGION, 2022–2027 (USD MILLION)
7.4 FIRE SECURITY SERVICES
7.4.1 GROWING NEED TO MAINTAIN FIRE SECURITY SYSTEMS TO DRIVE MARKET GROWTH
TABLE 45 FIRE SECURITY SERVICES MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 46 FIRE SECURITY SERVICES MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 47 FIRE SECURITY SERVICES MARKET, BY TYPE, 2018–2021 (USD MILLION)
TABLE 48 FIRE SECURITY SERVICES MARKET, BY TYPE, 2022–2027 (USD MILLION)
7.4.2 ENGINEERING SERVICES
7.4.2.1 Rise in demand for fire risk management services
7.4.3 INSTALLATION AND DESIGN
7.4.3.1 Growing demand for installation and design services in independent homes
7.4.4 MAINTENANCE SERVICES
7.4.4.1 Growing demand for testing and inspection of fire protection systems
7.4.5 MANAGED SERVICES
7.4.5.1 Implementation of tested solutions in residential buildings
7.4.6 OTHERS
7.5 VIDEO SURVEILLANCE SERVICES
7.5.1 MARKET FOR VIDEO SURVEILLANCE SERVICES TO EXHIBIT HIGHEST CAGR
TABLE 49 VIDEO SURVEILLANCE SERVICES MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 50 VIDEO SURVEILLANCE SERVICES MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 51 VIDEO SURVEILLANCE SERVICES MARKET, BY TYPE, 2018–2021 (USD MILLION)
TABLE 52 VIDEO SURVEILLANCE SERVICES MARKET, BY TYPE, 2022–2027 (USD MILLION)
7.5.2 INSTALLATION AND MAINTENANCE
7.5.2.1 High cost of repair commands more demand for installation and maintenance services
7.5.3 VIDEO SURVEILLANCE AS SERVICES (VSAAS)
7.5.3.1 Surging demand in security companies
TABLE 53 VIDEO SURVEILLANCE-AS-A-SERVICE MARKET, BY TYPE, 2018–2021 (USD MILLION)
TABLE 54 VIDEO SURVEILLANCE-AS-A-SERVICE MARKET, BY TYPE, 2022–2027 (USD MILLION)
7.6 ACCESS CONTROL SERVICES
7.6.1 ADVANCEMENTS IN CLOUD TECHNOLOGY TO PUSH DEMAND FOR ACCESS CONTROL SERVICES
TABLE 55 ACCESS CONTROL SERVICES MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 56 ACCESS CONTROL SERVICES MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 57 ACCESS CONTROL SERVICES MARKET, BY TYPE, 2018–2021 (USD MILLION)
TABLE 58 ACCESS CONTROL SERVICES MARKET, BY TYPE, 2022–2027 (USD MILLION)
7.6.2 INSTALLATION & INTEGRATION
7.6.2.1 Integration enables devices to connect and provide communication access
7.6.3 MAINTENANCE SERVICE
7.6.3.1 Increasing adoption of real-time monitoring of access control systems to raise demand for maintenance services
7.6.4 ACCESS CONTROL-AS-A-SERVICE
7.6.4.1 Cost-effective operations provided by access control-as-a-services
8 HOME SECURITY SYSTEMS MARKET, BY SECURITY (Page No. - 92)
8.1 INTRODUCTION
FIGURE 24 PROFESSIONALLY INSTALLED AND MONITORED SYSTEMS TO HOLD LARGEST SHARE OF MARKET
TABLE 59 MARKET, BY SECURITY, 2018–2021 (USD BILLION)
TABLE 60 MARKET, BY SECURITY, 2022–2027 (USD BILLION)
8.2 PROFESSIONALLY INSTALLED AND MONITORED SYSTEMS
8.2.1 PROFESSIONALLY INSTALLED AND MONITORED SECURITY SYSTEMS PROVIDE USERS WITH SET OF DEDICATED CONSULTING AND ENGINEERING SERVICES
8.3 SELF-INSTALLED AND PROFESSIONALLY MONITORED SYSTEMS
8.3.1 INCREASING CONSUMER PREFERENCE FOR SELF-INSTALLED HOME SECURITY SYSTEMS TO DRIVE MARKET GROWTH
8.4 DO-IT-YOURSELF (DIY)
8.4.1 GROWING DEMAND FOR DIY SECURITY SYSTEMS TO FUEL MARKET GROWTH DURING FORECAST PERIOD
9 HOME SECURITY SYSTEMS MARKET, BY HOME TYPE (Page No. - 96)
9.1 INTRODUCTION
FIGURE 25 MARKET FOR CONDOMINIUM/APARTMENTS TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
TABLE 61 MARKET, BY HOME TYPE, 2018–2021 (USD BILLION)
TABLE 62 MARKET, BY HOME TYPE, 2022–2027 (USD BILLION)
9.2 INDEPENDENT HOUSES
9.2.1 INDEPENDENT HOMEOWNERS LEVERAGE COST EFFECTIVENESS OF ADVANCED AND CONNECTED HOME SECURITY SYSTEMS
9.3 CONDOMINIUMS/APARTMENTS
9.3.1 GROWING DEMAND FOR INTEGRATED SECURITY SOLUTIONS IN CONDOMINIUMS/APARTMENTS
10 GEOGRAPHIC ANALYSIS (Page No. - 99)
10.1 INTRODUCTION
FIGURE 26 GEOGRAPHIC ANALYSIS: HOME SECURITY SYSTEMS MARKET (2022–2027)
TABLE 63 HOME SECURITY SYSTEMS MARKET, BY REGION, 2018–2021 (USD BILLION)
TABLE 64 HOME SECURITY SYSTEMS MARKET, BY REGION, 2022–2027 (USD BILLION)
10.2 NORTH AMERICA
10.2.1 PRESENCE OF STRINGENT REGULATION AND ADOPTION OF INNOVATIVE TECHNOLOGIES TO BOOST MARKET GROWTH
FIGURE 27 NORTH AMERICA: SNAPSHOT OF HOME SECURITY SYSTEMS MARKET
TABLE 65 HOME SECURITY SYSTEMS MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 66 MARKET IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 67 MARKET IN NORTH AMERICA, BY TYPE, 2018–2021 (USD MILLION)
TABLE 68 MARKET IN NORTH AMERICA, BY TYPE, 2022–2027 (USD MILLION)
TABLE 69 MARKET IN NORTH AMERICA, BY SYSTEMS, 2018–2021 (USD MILLION)
TABLE 70 MARKET IN NORTH AMERICA, BY SYSTEMS, 2022–2027 (USD MILLION)
TABLE 71 MARKET IN NORTH AMERICA, BY SERVICES, 2018–2021 (USD MILLION)
TABLE 72 MARKET IN NORTH AMERICA, BY SERVICES, 2022–2027 (USD MILLION)
10.2.2 US
10.2.2.1 Increasing demand for intelligent video surveillance systems in US
10.2.3 CANADA
10.2.3.1 Low mortgage and interest rates for construction activities to drive demand for home security systems in Canada
10.2.4 MEXICO
10.2.4.1 High crime rate to increase adoption of video surveillance security solutions in Mexico
10.3 EUROPE
10.3.1 GROWING ADOPTION OF FIRE PROTECTION SYSTEMS DURING RENOVATION OF CONVENTIONAL BUILDINGS TO FUEL EUROPEAN HOME SECURITY SYSTEMS MARKET
FIGURE 28 EUROPE: SNAPSHOT OF HOME SECURITY SYSTEMS MARKET
TABLE 73 MARKET IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 74 MARKET IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 75 MARKET IN EUROPE, BY TYPE, 2018–2021 (USD MILLION)
TABLE 76 MARKET IN EUROPE, BY TYPE, 2022–2027 (USD MILLION)
TABLE 77 MARKET IN EUROPE, BY SYSTEMS, 2018–2021 (USD MILLION)
TABLE 78 MARKET IN THE EUROPE, BY SYSTEMS, 2022–2027 (USD MILLION)
TABLE 79 MARKET IN EUROPE, BY SERVICES, 2018–2021 (USD MILLION)
TABLE 80 MARKET IN EUROPE, BY SERVICES, 2022–2027 (USD MILLION)
10.3.2 GERMANY
10.3.2.1 Stringent regulations and privacy laws to increase demand for home security systems in Germany
10.3.3 UK
10.3.3.1 Stringent regulations for fire safety to propel market growth in UK
10.3.4 FRANCE
10.3.4.1 Increasing adoption of home security systems in conventional buildings to push market in France
10.3.5 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 GROWING DEMAND FOR INTELLIGENT CAMERAS IN HOUSING PROJECTS TO RAISE MARKET DEMAND IN ASIA PACIFIC
FIGURE 29 ASIA PACIFIC: SNAPSHOT OF HOME SECURITY SYSTEMS MARKET
TABLE 81 MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 82 MARKET IN ASIA PACIFIC, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 83 MARKET IN ASIA PACIFIC, BY TYPE, 2018–2021 (USD MILLION)
TABLE 84 MARKET IN ASIA PACIFIC, BY TYPE, 2022–2027 (USD MILLION)
TABLE 85 MARKET IN ASIA PACIFIC, BY SYSTEMS, 2018–2021 (USD MILLION)
TABLE 86 MARKET IN ASIA PACIFIC, BY SYSTEMS, 2022–2027 (USD MILLION)
TABLE 87 MARKET IN ASIA PACIFIC, BY SERVICES, 2018–2021 (USD MILLION)
TABLE 88 MARKET IN ASIA PACIFIC, BY SERVICES, 2022–2027 (USD MILLION)
10.4.2 CHINA
10.4.2.1 Rapid urbanization to generate demand for home security systems in China
10.4.3 JAPAN
10.4.3.1 Growing emphasis by government on fire safety measures to grow market for home security systems in Japan
10.4.4 SOUTH KOREA
10.4.4.1 Increasing R&D for innovative security products to drive market in South Korea
10.4.5 INDIA
10.4.5.1 Increasing demand for wireless technologies and advanced cameras to raise market growth in India
10.4.6 REST OF ASIA PACIFIC
10.5 REST OF THE WORLD
10.5.1 GROWING DEMAND FOR VIDEO SURVEILLANCE AND ACCESS CONTROL SYSTEMS TO BOOST MARKET IN REST OF THE WORLD
TABLE 89 HOME SECURITY SYSTEMS MARKET IN REST OF THE WORLD, BY REGION, 2018–2021 (USD MILLION)
TABLE 90 MARKET IN REST OF THE WORLD, BY REGI0N, 2022–2027 (USD MILLION)
TABLE 91 MARKET IN REST OF THE WORLD, BY TYPE, 2018–2021 (USD MILLION)
TABLE 92 MARKET IN REST OF THE WORLD, BY TYPE, 2022–2027 (USD MILLION)
TABLE 93 MARKET IN REST OF THE WORLD, BY SYSTEMS, 2018–2021 (USD MILLION)
TABLE 94 MARKET IN REST OF THE WORLD, BY SYSTEMS, 2022–2027 (USD MILLION)
TABLE 95 MARKET IN REST OF THE WORLD, BY SERVICES, 2018–2021 (USD MILLION)
TABLE 96 MARKET IN REST OF THE WORLD, BY SERVICES, 2022–2027 (USD MILLION)
10.5.2 SOUTH AMERICA
10.5.2.1 Increasing adoption of security solutions by independent homeowners to influence positive demand in South America
10.5.3 MIDDLE EAST
10.5.3.1 Increasing urbanization and government spending on infrastructure development in the Middle East
10.5.4 AFRICA
10.5.4.1 Growing demand for security systems from residential homeowners to help grow African market
11 COMPETITIVE LANDSCAPE (Page No. - 120)
11.1 OVERVIEW
11.2 REVENUE ANALYSIS OF TOP FIVE COMPANIES
FIGURE 30 HOME SECURITY SERVICES MARKET: REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2017–2021
11.3 MARKET SHARE ANALYSIS, 2021
TABLE 97 HOME SECURITY SYSTEMS MARKET: MARKET SHARE ANALYSIS (2021)
11.4 COMPANY EVALUATION QUADRANT
11.4.1 STARS
11.4.2 EMERGING LEADERS
11.4.3 PERVASIVE COMPANIES
11.4.4 PARTICIPANTS
FIGURE 31 HOME SECURITY SYSTEMS MARKET: COMPANY EVALUATION QUADRANT, 2021
11.5 COMPETITIVE SITUATIONS AND TRENDS
TABLE 98 HOME SECURITY SYSTEMS MARKET: PRODUCT LAUNCHES, DECEMBER 2019–MARCH 2021
TABLE 99 HOME SECURITY SYSTEMS MARKET: DEALS, FEBRUARY 2019-APRIL 2022
12 COMPANY PROFILES (Page No. - 127)
12.1 KEY PLAYERS
(Business overview, Products offered, Recent developments, Product launches, Deals, MnM view, Key strengths/right to win, Strategic choices made, and Weaknesses and competitive threats)*
12.1.1 ADT
TABLE 100 ADT: BUSINESS OVERVIEW
FIGURE 32 ADT: COMPANY SNAPSHOT
TABLE 101 ADT: PRODUCTS OFFERED
12.1.2 RESIDEO TECHNOLOGIES INC
TABLE 102 RESIDEO TECHNOLOGIES, INC.: BUSINESS OVERVIEW
FIGURE 33 RESIDEO TECHNOLOGIES INC.: COMPANY SNAPSHOT
TABLE 103 RESIDEO TECHNOLOGIES, INC.: PRODUCTS OFFERED
12.1.3 JOHNSON CONTROLS
TABLE 104 JOHNSON CONTROLS: BUSINESS OVERVIEW
FIGURE 34 JOHNSON CONTROLS: COMPANY SNAPSHOT
TABLE 105 JOHNSON CONTROLS: PRODUCTS OFFERED
12.1.4 HANGZHOU HIKVISION DIGITAL TECHNOLOGY
TABLE 106 HANGZHOU HIGVISION DIGITAL TECHNOLOGY: BUSINESS OVERVIEW
FIGURE 35 HANGZHOU HIGVISION DIGITAL TECHNOLOGY: COMPANY SNAPSHOT
TABLE 107 HANGZHAU HIGVISION DIGITAL TECHNOLOGY: PRODUCTS OFFERED
12.1.5 ASSA ABLOY
TABLE 108 ASSA ABLOY: BUSINESS OVERVIEW
FIGURE 36 ASSA ABLOY: COMPANY SNAPSHOT
TABLE 109 ASSA ABLOY: PRODUCTS OFFERED
12.1.6 SECOM
TABLE 110 SECOM: BUSINESS OVERVIEW
FIGURE 37 SECOM: COMPANY SNAPSHOT
TABLE 111 SECOM: PRODUCTS OFFERED
12.1.7 ROBERT BOSCH
TABLE 112 ROBERT BOSCH: BUSINESS OVERVIEW
FIGURE 38 ROBERT BOSCH: COMPANY SNAPSHOT
TABLE 113 ROBERT BOSCH: PRODUCTS OFFERED
12.1.8 ALLEGION
ABLE 114 ALLEGION: BUSINESS OVERVIEW
FIGURE 39 ALLEGION: COMPANY SNAPSHOT
TABLE 115 ALLEGION: PRODUCTS OFFERED
12.1.9 SNAP ONE, LLC
TABLE 116 SNAP ONE, LLC: BUSINESS OVERVIEW
FIGURE 40 SNAP ONE, LLC: COMPANY SNAPSHOT
TABLE 117 SNAP ONE, LLC: PRODUCT OFFERINGS
12.1.10 ABB
TABLE 118 ABB: BUSINESS OVERVIEW
FIGURE 41 ABB: COMPANY SNAPSHOT
TABLE 119 ABB: PRODUCT OFFERINGS
12.2 OTHER PLAYERS
12.2.1 COMCAST
TABLE 120 COMCAST: BUSINESS OVERVIEW
12.2.2 ALARM.COM
TABLE 121 ALARM.COM: BUSINESS OVERVIEW
12.2.3 NORTEK SECURITY & CONTROL
TABLE 122 NORTEK SECURITY & CONTROL: BUSINESS OVERVIEW
12.2.4 VIVINT
TABLE 123 VIVINT: BUSINESS OVERVIEW
12.2.5 SIMPLISAFE
TABLE 124 SIMPLISAFE: BUSINESS OVERVIEW
12.2.6 ARMORAX
TABLE 125 ARMORAX: BUSINESS OVERVIEW
12.2.7 CANARY
TABLE 126 CANARY: BUSINESS OVERVIEW
12.2.8 SCOUT
TABLE 127 SCOUT: BUSINESS OVERVIEW
12.2.9 LEGRAND
TABLE 128 LEGRAND: BUSINESS OVERVIEW
12.2.10 SCHNEIDER ELECTRIC
TABLE 129 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
*Details on Business overview, Products offered, Recent developments, Product launches, Deals, MnM view, Key strengths/right to win, Strategic choices made, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
13 ADJACENT & RELATED MARKETS (Page No. - 161)
13.1 INTRODUCTION
13.2 LIMITATIONS
13.3 VIDEO SURVEILLANCE MARKET, BY SYSTEM
TABLE 130 VIDEO SURVEILLANCE MARKET, BY SYSTEM, 2017–2020 (USD MILLION)
TABLE 131 VIDEO SURVEILLANCE MARKET, BY SYSTEM, 2021–2026 (USD MILLION)
13.3.1 ANALOG VIDEO SURVEILLANCE SYSTEM
13.3.1.1 Analog surveillance systems mainly consist of analog cameras and DVRs
13.3.2 IP VIDEO SURVEILLANCE SYSTEM
13.3.2.1 IP video surveillance systems offer enhanced security and better resolution
14 APPENDIX (Page No. - 164)
14.1 DISCUSSION GUIDE
14.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.3 AVAILABLE CUSTOMIZATIONS
14.4 RELATED REPORTS
14.5 AUTHOR DETAILS
The study involved four major activities in estimating the size of the home security systems market. Exhaustive secondary research has been carried out to collect information on the market, the peer markets, and the parent market. Both top-down and bottom-up approaches have been employed to estimate the total market size. Market breakdown and data triangulation methods have also been used to estimate the market for segments and subsegments.
Secondary Research
In the secondary research process, various sources have been referred to for identifying and collecting information for this study on the home security systems market. Secondary sources considered for this research study include government sources; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and professional associations. Secondary data has been collected and analyzed to arrive at the overall market size, which has been further validated through primary research.
Secondary research has been mainly used to obtain key information about the supply chain of the home security systems industry to identify the key players based on their products, as well as to identify the prevailing industry trends in the home security systems market based on home type, security, systems, services, and region. It also includes information about the key developments undertaken from both markets- and technology-oriented perspectives.
Primary Research
Extensive primary research has been conducted after understanding and analyzing the current scenario of the home security services market through secondary research. Several primary interviews have been conducted with key opinion leaders from both the demand and supply sides across four major regions: North America, Europe, APAC, and RoW. Approximately 25% of the primary interviews have been conducted with the demand side, while 75% have been conducted with the supply side. This primary data has been collected mainly through telephonic interviews, which account for 80% of the total primary interviews. Questionnaires and e-mails have also been used to collect data.
After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. The breakdown of primary respondents is as follows:
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Market Size Estimation
The bottom-up procedure has been employed to arrive at the overall size of the home security systems market.
- First, companies offering home security systems have been identified, and their product mapping with respect to different parameters such as systems type, offering, and services has been carried out.
- The size of the home security services market has been estimated based on the demand for different types of systems. The revenues of the companies operating in the home security system ecosystem and the anticipated change in the demand for home security systems offered by them in the post-COVID-19 scenario have been analyzed and estimated.
- Primary research has been conducted with a few major players operating in the home security systems market to validate the global size of the market. The discussions included the impact of COVID-19 on the ecosystem of the home security systems market.
- The CAGR of the home security systems market has been calculated considering the historical and future market trends and the impact of COVID-19 by understanding the penetration rate of home security systems and their demand and supply in residential applications.
- The estimates at every level have been verified and cross-checked through discussions with key opinion leaders, such as corporate executives (CXOs), directors, and sales heads, as well as with the domain experts in MarketsandMarkets.
- Various paid and unpaid information sources such as company websites, annual reports, press releases, research journals, magazines, white papers, and databases were also studied.
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The top-down approach has been used to estimate and validate the total size of the home security systems market.- Focusing on the top-line investment and expenditure in the ecosystems, and further splitting the market based on new installations, upgraded devices, software implementation, and the key developments in the major market areas.
- Building and developing the information related to revenue generated by key product, service, and software providers.
- Conducting multiple on-field discussions with key opinion leaders across each major company involved in the development of products, services, and software.
- Estimating the geographic split using secondary sources, based on various factors such as the number of players in a specific country and region, types of products, levels of services offered, and types of software implemented.
- The impact of COVID-19 on the steps mentioned above has also been considered.
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market has been split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides in the home security systems market.
Report Objectives
- To define, describe, and forecast the home security systems market, in terms of value, by home type, systems, services, security type, and geography.
- To forecast the market size for the concerned segments with respect to the 4 key regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
- To analyze the value chain to understand the flow of activities performed by various companies to develop and deliver the products to consumers
- To analyze the micromarkets1 with regard to industry trends and prospects, and their contribution to the total market
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the home security systems market and provide details of the competitive landscape for market leaders
- To profile the key players and comprehensively analyze their market position in terms of ranking and core competencies2
- To analyze the competitive developments such as partnerships, collaborations, mergers and acquisitions, and product launches and developments in the home security systems market
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Company Information:
- Detailed analysis and profiling of additional market players based on various blocks of the value chain.
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Home Security Systems Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Home Security Systems Market