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)
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.
Do-It-Yourself (DIY) security market to grow at a high rate from 2022 to 2027
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. In the DiY product category, users can save a large amount of money spent on consulting and installation services. 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.
Video Surveillance Systems to hold the largest share of the market by systems in 2022
The video surveillance systems segment is expected to hold the largest share of the home security systems market by systems in 2022.
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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 home security systems market in APAC is expected to witness significant growth rate during the forecast owing to increasing crime rate and rapid urbanization in the countries such as China, and India. In Japan, growing emphasis by government on fire safety measures is likely to create growth opportunities for the market, while increasing R&D for innovative security products to drive the market in South Korea.
A few of the key players in the Home Security Systems Market are ADT LLC. (ADT) (US), Resideo Technologies, Inc. (US), Johnson Controls
International plc. (Johnson Controls) (US) HANGZHOU HIKVISION DIGITAL
TECHNOLOGY CO. LTD. (HANGZHOU HIKVISION DIGITAL
TECHNOLOGY) (China), and ASSA ABLOY AB (ASSA ABLOY) (Sweden).
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