London, United Kingdom, May 01, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Home Security Systems Market Research Report: By Product Type, Operating Platforms, and Region - Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 81.30 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 4.72% during the assessment timeframe.
Key Companies in the Home Security Systems market include
- Vivint inc.(US)
- Control4 corporation (US)
- Honeywell international inc. (US)
- Tyco international ltd. (Ireland)
- Adt corporation (US)
- Robert bosch gmbh (Germany)
- Cescom (Japan)
- Godrej & boyce manufacturing company limited (India)
- Assa abloy ab (Sweden)
- Allegion plc (Ireland)
- Axis communications ab (Sweden)
- Simplisafe inc. (US)
- Hangzhou hikvision digital technology co. Ltd. (China)
- Johnson controls (US)
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Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 81.30 Billion |
| Growth Rate | CAGR of 4.72% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Real estate and construction are both developing quickly. |
| Key Market Drivers | A rise in criminal activity Technological development in remote monitoring using smartphones Rising interest in smart houses |
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The rise in criminal activity, technical advancements in remote monitoring via smartphones, and rising interest in smart homes are the primary industry drivers boosting the growth of the home security systems market.
Access control systems restrict access to secure areas of a home, building, drawer, or other location containing valuables, data, or sensitive information. These automated solutions provide both access and protection 24 hours a day, seven days a week.
Entry control systems are increasingly being employed in home security since they allow quick and easy admission to a specified individual while recording and monitoring guests' movements. The advancement and evolution of access control technologies in the home security systems market is at an all-time high. And the widespread use of these systems for home security is a result of the increased need for greater protection caused by growing threats, an increase in smart homes, and rising liability. Secondary research, primary research, the MRFR database, and analyst review were used as sources.
Furthermore, most homeowners' access control systems consist of a deadbolt lock on the front and back doors and a key-locking door handle. Sliding glass doors and similar doors, on the other hand, are secured with a toggle lock, which may be more burglar-proof. Home security can be enhanced by adding extra access control security to these places. Such occurrences may heighten the demand for access control systems to improve home security. Access control systems from home security system market makers can lock and unlock doors in a variety of ways. This feature is becoming more popular for home security around the world.
A house burglary occurs every 13 seconds, four times per minute, 240 times per hour, and over 6,000 times each day, according to FBI data on home burglaries. In addition to one in every 250 homes with security systems, it claims that one in every three homes without security systems may experience a burglary.
Furthermore, current home security systems are frequently employed for a variety of reasons. The unrivalled connection, control, and accessibility of today's home security solutions, as well as the possibility for homeowners to remotely access multiple functions using a PC or a smartphone, are driving sales growth in this market.
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Segmentation
The Home Security Systems market is divided into four product categories: cameras, sensors, biometrics, and smart cards.
The Home Security Systems market is divided into two types: video surveillance solutions and medical alert systems.
The study divides the market into four regions: North America, Europe, Asia-Pacific, and the Rest of the World.
The Asia Pacific Home Security Systems market was worth USD 18.79 billion in 2021, and it is predicted to rise at a substantial CAGR over the study period. For more than 40 years, China's security business has been expanding. After initially being utilised in a small number of specialised divisions and departments, the application areas for the security system have greatly increased in recent years. Cameras are ubiquitous, and the Chinese security sector has changed dramatically. The market has expanded rapidly during the last two decades. China's society and economy have undergone immense change as a result of the country's significant growth in industrial capacity and expanding consumer expenditure. China is a major manufacturer of both consumer and industrial items.
China is presently surpassing other economies in terms of market growth for product and service consumption.
The market for home security systems in North America generated $10,041.50 million in sales in 2021 and is expected to reach $28,374.40 million in revenue by 2030. This is primarily due to the 2020 pandemic and the quick technical improvements that have increased the Home Security Systems business in North America. Furthermore, big competitors such as Vivint, Inc have a substantial presence. ADT LLC is one of the driving forces behind the growth of home security systems. ADT LLC, doing business as ADT Security Services, for example, has over eight million customers in North America.
Because of the growing acceptability of DIY installation solutions and the desire for home security systems, market demand is increasing. Furthermore, the US Home Security Systems market had the biggest market share, while the Canada Home Security Systems market was the Asia-Pacific region's fastest-growing market.
Europe's Home Security Systems market is the third-largest in the world, owing to increased urbanisation and a thriving construction industry. It is a significant contributor to the overall growth of the home security systems industry in this region. Economic growth in the region and technological advancements are two factors that are expected to increase demand for security systems.
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The market for home fire prevention systems is expected to grow faster than the construction and real estate sectors in the future years. Furthermore, the UK Home Security Systems market had the greatest market share, while the Germany Home Security Systems market was the Asia-Pacific region's fastest-growing market.
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