Portland, OR, July 25, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global home security solutions market generated $48.1 billion in 2021, and is projected to reach $121.4 billion by 2030, witnessing a CAGR of 10.5% from 2022 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Increased need to prevent break-ins and track intruder movement throughout the property drive the growth of the global home security solutions market. However, high installation cost of home security devices hampers the market growth. On the other hand, rise in criminal cases around the world is expected to generate potential opportunities for the market during the forecast period.
COVID-19 scenario:
- The COVID-19 pandemic negatively impacted the economic health of people worldwide. Hence, to make the ends meet, some people opted for wrong deeds. Hence, increased cases of theft and burglary raised the concern for home security.
- The pandemic changed the way people and business worked throughout the world. Individuals were compelled to spend more time indoors as a result of the lockdowns, and customers are reinvesting in their homes. Of course, numerous residential security solutions and smart home firms that supply both goods and services benefited from this.
Scope of the Report: -
| Report Attribute | Details |
| Revenue forecast in 2030 | $ 121.4 billion |
| Growth rate | CAGR of 10.56% from 2022 to 2030 |
| Forecast period | 2022 - 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Regional scope | North America, Europe, Asia Pacific, Latin America, MEA |
| Country scope | U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia |
| Key companies profiled | 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). Access Table PDF |
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The report offers detailed segmentation of the global home security solutions market based type, solutions, installation, end use, and region.
Based on type, the software or platform segment held the highest market share in 2021, holding more than two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the service segment is estimated to register the highest CAGR of 10.9% from 2022 to 2030.
Based on solutions, the video surveillance system segment held the largest market share in 2021, holding more than two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the access control system segment is projected to register the highest CAGR of 11.8% from 2022 to 2030.
Based on region, North America is contributed to the highest share in terms of revenue in 2021, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2031. Moreover, the LAMEA region is projected to manifest the fastest CAGR of 11.3% during the forecast period.
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Key players in the industry
- Johnson Controls, Inc. (Tyco Security Products)
- Nortek Security & Control LLC
- Honeywell International Inc
- Assa Abloy
- United Technologies Corporation
- Robert Bosch GmbH
- Alarm.com
- Allegion Plc
- Control4 Corporation
- Brinks Home
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the global home security solutions market trends along with the current and future market forecast.
- This report highlights the key drivers, home security solutions market opportunity, and restraints of the market along with the impact analyses during the forecast period.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global home security solutions market for strategy building.
- A comprehensive global home security solutions market share analysis covers factors that drive and restrain the home security solutions market growth are comprehensively analyzed in this report.
- The qualitative data in this report aims on home security solutions industry in terms of dynamics, developments, and home security solutions market forecast scenario are covered. In addition, various home security solutions market analysis covering wise home solutions, home video surveillance, home video surveillance cameras are portrayed in this research report.
Key Market Segments
- By Type
- Hardware
- Software or Platform
- Service
- By Solutions
- Video Surveillance System
- Alarm System
- Access Control System
- Others
- By Installation
- Professionally Installed
- Do-It-Yourself (DIY)
- By End Use
- Independent Homes
- Condominium
- Apartment
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
