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Home Security Systems - Global Market Trajectory & Analytics

  • ID: 5302516
  • Report
  • February 2022
  • Region: Global
  • 663 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • ABB Ltd.
  • Allegion plc
  • Assa Abloy AB
  • Control4 Corporation
  • JOHNSON CONTROLS
  • Schneider Electric SE

Global Home Security Systems Market to Reach US$68.2 Billion by the Year 2026


A home security system is designed to safeguard a home against intrusion from burglars or other people with malicious intensions, and can monitor flood, fire or other environmental threats that may damage a home. The demand for home security systems is witnessing a rapid growth. The scenario is therefore creating demand for highly sophisticated security solutions like access control systems, IP-based video surveillance, digital CCTVs and remote-monitoring solutions. Demand is also driven by the low penetration rate of home security systems in the US, which is estimated at around only 17% of the total US homes. This factor, coupled with the $2500 average value loss per burglary, presents increased opportunities for home security systems. Technological developments also ensure that building security systems became affordable to suffice the budgetary requirements of consumers across the board. The present generation of home security solutions offers unparalleled connectivity, control and accessibility, and more importantly enable homeowners to remotely access a wide range of features using a PC or a smartphone. The growing popularity of smart security systems is also largely attributed to their innovative features such as remote arming and disarming, viewing of stored video clips of various events, accessing of household appliances and monitoring of movements even when away from home to name a few.

Amid the COVID-19 crisis, the global market for Home Security Systems estimated at US$50.2 Billion in the year 2020, is projected to reach a revised size of US$68.2 Billion by 2026, growing at a CAGR of 5.4% over the analysis period. Video Surveillance Systems, one of the segments analyzed in the report, is projected to grow at a 6.4% CAGR to reach US$28.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Access Control Systems segment is readjusted to a revised 5.2% CAGR for the next 7-year period. This segment currently accounts for a 17.8% share of the global Home Security Systems market. Video Surveillance involves the process of monitoring the activity and behavior of individuals, a group of individuals, and/or machines for the purpose of managing, directing, influencing or protecting them. Strong demand for networked cameras drive growth in the Video Surveillance Systems segment. The growing demand for smart locks drives growth in the Access Control Systems segment. Smart locks are electromechanical locks designed to automatically lock and unlock a door through commands from an authorized device or an authentication PIN, have come to the fore offering a new generation door locking system. The access control solution monitors multiple usage of a card at locations that does not permit its usage.



The U.S. Market is Estimated at $16.9 Billion in 2021, While China is Forecast to Reach $7.4 Billion by 2026


The Home Security Systems market in the U.S. is estimated at US$16.9 Billion in the year 2021. The country currently accounts for a 32.7% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$7.4 Billion in the year 2026 trailing a CAGR of 7.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR while Rest of European market (as defined in the study) will reach US$8.1 Billion by the end of the analysis period.

Entrance Control Systems Segment to Reach $8.9 Billion by 2026


In the global Entrance Control Systems segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.6 Billion in the year 2020 will reach a projected size of US$7.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$798.6 Million by the year 2026.

Select Competitors (Total 217 Featured) -

  • ABB Ltd.
  • ADT LLC dba ADT Security Services
  • Allegion plc
  • Assa Abloy AB
  • Bosch Service Solutions GmbH
  • Frontpoint Security Solutions, LLC
  • Control4 Corporation
  • Teledyne FLIR LLC
  • Godrej & Boyce Mfg.Co. Ltd.
  • Hangzhou Hikvision Digital Technology Co., Ltd.
  • Honeywell International Inc.
  • JOHNSON CONTROLS
  • Nortek Security & Control LLC
  • Schneider Electric SE
  • Scout Security Inc
  • SimpliSafe Inc.
  • Stanley Convergent Security Solutions, Inc.
  • Visonic
Frequently Asked Questions about the Global Market for Home Security Systems

What is the estimated value of the Global Market for Home Security Systems?

The Global Market for Home Security Systems was estimated to be valued at $50.2 Billion in 2020.

What is the growth rate of the Global Market for Home Security Systems?

The growth rate of the Global Market for Home Security Systems is 5.2%, with an estimated value of $68.2 Billion by 2026.

What is the forecasted size of the Global Market for Home Security Systems?

The Global Market for Home Security Systems is estimated to be worth $68.2 Billion by 2026.

Who are the key companies in the Global Market for Home Security Systems?

Key companies in the Global Market for Home Security Systems include ABB Ltd., ADT LLC dba ADT Security Services, Allegion plc, Assa Abloy AB, Bosch Service Solutions GmbH, Frontpoint Security Solutions, LLC, Control4 Corporation, Teledyne FLIR LLC and Hangzhou Hikvision Digital Technology Co., Ltd..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB Ltd.
  • Allegion plc
  • Assa Abloy AB
  • Control4 Corporation
  • JOHNSON CONTROLS
  • Schneider Electric SE

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Home Security Systems – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Rising Security Threats & Safety Concerns at Residential Places Provide the Foundation for the Growth of Home Security Systems
  • Ever-Present Threat of Burglary & Home Break-Ins Drives Demand for Home Security Systems: Number of Burglaries Per 100,000 People by Country for the Year 2021
  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
  • These are Times When Questions Abound & Answers Are Few
  • So How Fast Or Slow Are We Moving?
  • How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Percentage (%) of Population Administered With Vaccines in Advanced Economies, Emerging Markets, and Low-Income Countries As of July 2021
  • How & When Will the World Be Vaccinated? Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
  • Split Scenarios Unfold: The Great Vaccine Divide Emerges
  • Time is of Essence! What We Know So Far – “Vaccine Efficiency Against New Strains is Decreasing”
  • Progress on Vaccinations, Why Should Businesses Care?
  • With IMF’s Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
  • A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants, Comes as a Relief for Suffering Industries & Markets: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
  • How the Construction Industry, a Key Influencer of Opportunities in the Home Security Systems Market, Was Impacted by the Pandemic & What’s the New Normal?
  • Global Construction Spending (In US$ Trillion) for the Years 2019, 2020, & 2021
  • Home Security Systems: Definition, Importance & Benefits
  • Recent Market Activity
  • Innovations
  • World Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Smart Locks Emerge as the Leading Growth Category in the Access Control Systems Segment
  • Technology Innovations in the Smart Locks Space: A Review
  • Rise in Home Fires, Awareness Over Fire Safety & Strict Regulations Step Up the Importance of Installing Fire Safety/Protection Systems
  • Percentage Distribution of Causes of Fires at Home: 2020
  • Property Damage (In US$ Billion) in the US Caused by Structure Fires for the Years 2010-2019
  • Strong Demand for Networked Cameras Emerge as a Key Trend in the Home Video Surveillance Space
  • Rise of Smart Homes & Home Automation to Offer Growth Opportunities on a Platter
  • Smart Homes Emerge as a Disruptive Trend Enhancing Lives of Homeowners & Also Creating New Market Opportunities for Smart Security Technologies & Solutions: Global Smart Homes Market by Category in US$ Billion for the Years 2020 and 2022
  • Security and Surveillance in Smart Homes: A Review
  • Home Automation and Security Systems Converge to Promote security Along With Comfort, Energy Efficiency & Convenience
  • Automation & Home Security: A Special Focus
  • Video Doorbells Market: A Promising Market
  • Home Renovations & Need for Better Buildings for Post Pandemic Living to Spur Sales of Home Security Systems
  • Residential Renovations to Regain Lost Momentum Post Pandemic
  • AI to Revolutionize Home Security. Here’s How
  • Role of Blockchain in Home Security Systems
  • Continuous Innovation Remains Crucial to Growth
  • Favorable Demographic and Economic Trends Strengthen Market Prospects
  • Aging Population: An Important Growth Driver
  • Aging Homeowners Staying Alone Highlights the Need for Home Security & Emergency Response Systems: Global Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Rapid Urbanization & Rise in Better Provisioned Houses for the Middle Class Drive Demand For Home Security Systems
  • Total Population Worldwide by Urban and Rural Population in Million: 1950-2050
  • Global Middle Class Population (in Million) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
  • Role of IoT in Home Security Systems
  • Growing Popularity Wireless Home Security Systems to Boost Market Prospects

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Home Security Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Home Security Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Home Security Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Home Security Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Home Security Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Home Security Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Home Security Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Home Security Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

LATIN AMERICA

  • Home Security Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

MIDDLE EAST

  • Home Security Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

AFRICA

  • Home Security Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 217
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • ABB Ltd.
  • ADT LLC dba ADT Security Services
  • Allegion plc
  • Assa Abloy AB
  • Bosch Service Solutions GmbH
  • Frontpoint Security Solutions, LLC
  • Control4 Corporation
  • Teledyne FLIR LLC
  • Godrej & Boyce Mfg.Co. Ltd.
  • Hangzhou Hikvision Digital Technology Co., Ltd.
  • Honeywell International Inc.
  • JOHNSON CONTROLS
  • Nortek Security & Control LLC
  • Schneider Electric SE
  • Scout Security Inc
  • SimpliSafe Inc.
  • Stanley Convergent Security Solutions, Inc.
  • Visonic
Note: Product cover images may vary from those shown