Home Security System Market size to grow by USD 21.53 billion from 2021 to 2026|Evolution of IoT is one of the primary market trends – Technavio

NEW YORK, July 4, 2023 /PRNewswire/ — According to Technavio, the home security system market size is estimated to grow by USD 21.53 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 7.8% during the forecast. Download a Sample Report now!

Home Security System Market Insights –

• Vendors: 15+, Including ABB Ltd., ADT Inc., ASSA ABLOY AB, Bay Alarm Co., Frontpoint Security Solutions LLC, Godrej and Boyce Manufacturing Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Johnson Controls International Plc, Link Interactive, Monitronics International Inc., Nice SpA, Nortek Security and Control LLC, Panasonic Corp., Robert Bosch GmbH, Schneider Electric SE, Scout Security Ltd., SimpliSafe Inc., Stanley Black and Decker Inc., Vivint Smart Home Inc., Zhejiang Dahua Technology Co. Ltd., and Snap One LLC among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Product (Video surveillance system, Alarm system, and Access control system) and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

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Home security system market – Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market’s competitive landscape and offers information on several market vendors, including – ABB Ltd., ADT Inc., ASSA ABLOY AB, Bay Alarm Co., Frontpoint Security Solutions LLC, Godrej and Boyce Manufacturing Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Johnson Controls International Plc, Link Interactive, Monitronics International Inc., Nice SpA, Nortek Security and Control LLC, Panasonic Corp., Robert Bosch GmbH, Schneider Electric SE, Scout Security Ltd., SimpliSafe Inc., Stanley Black and Decker Inc., Vivint Smart Home Inc., Zhejiang Dahua Technology Co. Ltd., and Snap One LLC

Home Security System Market – Market Dynamics

Major Drivers – 

The major factor driving the global home security system market growth is the growth of DIY home security systems. This popularity is due to the advantages of DIY home security systems, including low cost, ease of installation, and smartphone-enabled operation. North America is one of the largest adopters of the DIY home security system, with the US in the lead. The low cost of these systems compared to professional security systems is the major factor that will be propelling the market growth during the forecast period. For instance, compared to those offered as part of a professional package, cameras used in DIY systems are less expensive. Furthermore, the flexibility associated with DIY security systems will support non-traditional security equipment providers to improve the overall penetration rate of homes with alarm systems.

Significant Trends

The evolution of IoT is one of the emerging trends that is expected to influence the home security system market positively during the forecast period. The factors that make IoT efficient are the interconnection of embedded software, hardware devices, communication services, and IT-related services. This support in the efficient remote monitoring and management of multiple interconnected devices. Also, IoT helps to use the wireless video surveillance system to capture videos through cameras and transmit them over a wireless network to other devices, such as sensors, for immediate response. Moreover, other benefits, such as easy storage and flexibility to install more video surveillance components such as storage devices, cameras, and video recorders, based on the changing requirements of the residential sector, will also drive the market growth during the forecast period.

Key challenges – 

The major challenge that may hinder the global home security system market growth is the increasing instances of false alarms owing to the failure to access the property. The operator may not respond to genuine alarm conditions due to such alarms. Because of minor errors in the application programs, false alarms usually happen, particularly when the sensor is unable to read the object which is nearing the boundary. This not only leads to customer dissatisfaction but also results in the mishandling and loss of sensitive customer information and other fraudulent activities. Therefore, such factors may hinder the growth of the market during the forecast period.

Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

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What are the key data covered in this Home Security System Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the home security system market between 2022 and 2026
• Precise estimation of the home security system market  size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the home security system market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of home security system market vendors

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Related Reports: 

The wireless home security camera market is estimated to grow at a CAGR of 13.34% between 2022 and 2027, and the size of the market is forecasted to increase by USD 753.58 million. This report extensively covers market segmentation by distribution channel (offline and online), application (indoor and outdoor), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The rising adoption of smart home systems is driving market growth.

The smart home cameras market size is estimated to grow at a CAGR of 14.88% between 2022 and 2027. The market size is forecast to increase by USD 3,991.67 million. This report extensively covers market segmentation by connectivity (wire-free smart home cameras and wired smart home cameras), distribution channel (offline and online), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). One of the key factors driving the smart home cameras market growth is the rising adoption of smart home systems.

Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis – Comparison between2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments 
• Exhibit 24: Chart on Product – Market share 2021-2026 (%)
• Exhibit 25: Data Table on Product – Market share 2021-2026 (%)

• 5.2 Comparison by Product 
• Exhibit 26: Chart on Comparison by Product
• Exhibit 27: Data Table on Comparison by Product

• 5.3 Video surveillance system – Market size and forecast 2021-2026 
• Exhibit 28: Chart on Video surveillance system – Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Video surveillance system – Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Video surveillance system – Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Video surveillance system – Year-over-year growth 2021-2026 (%)

• 5.4 Alarm system – Market size and forecast 2021-2026
• Exhibit 32: Chart on Alarm system – Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Alarm system – Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Alarm system – Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Alarm system – Year-over-year growth 2021-2026 (%)

• 5.5 Access control system – Market size and forecast 2021-2026 
• Exhibit 36: Chart on Access control system – Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Access control system – Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Access control system – Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Access control system – Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by Product 
• Exhibit 40: Market opportunity by Product ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 42: Chart on Market share by geography 2021-2026 (%)
• Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 44: Chart on Geographic comparison
• Exhibit 45: Data Table on Geographic comparison

• 7.3 North America – Market size and forecast 2021-2026
• Exhibit 46: Chart on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on North America – Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on North America – Year-over-year growth 2021-2026 (%)

• 7.4 Europe – Market size and forecast 2021-2026
• Exhibit 50: Chart on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Europe – Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Europe – Year-over-year growth 2021-2026 (%)

• 7.5 APAC – Market size and forecast 2021-2026
• Exhibit 54: Chart on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on APAC – Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on APAC – Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa – Market size and forecast 2021-2026 
• Exhibit 58: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)

• 7.7 South America – Market size and forecast 2021-2026
• Exhibit 62: Chart on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on South America – Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on South America – Year-over-year growth 2021-2026 (%)

• 7.8 US – Market size and forecast 2021-2026
• Exhibit 66: Chart on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on US – Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on US – Year-over-year growth 2021-2026 (%)

• 7.9 China – Market size and forecast 2021-2026
• Exhibit 70: Chart on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on China – Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on China – Year-over-year growth 2021-2026 (%)

• 7.10 Germany – Market size and forecast 2021-2026
• Exhibit 74: Chart on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Germany – Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Germany – Year-over-year growth 2021-2026 (%)

• 7.11 Canada – Market size and forecast 2021-2026
• Exhibit 78: Chart on Canada – Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Canada – Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Canada – Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Canada – Year-over-year growth 2021-2026 (%)

• 7.12 UK – Market size and forecast 2021-2026
• Exhibit 82: Chart on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on UK – Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on UK – Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.3 Impact of drivers and challenges 
• Exhibit 87: Impact of drivers and challenges in 2021 and 2026

9 Vendor Landscape

• 9.2 Vendor landscape 
• Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 89: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 90: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 91: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 92: Matrix on vendor position and classification

• 10.3 ADT Inc. 
• Exhibit 93: ADT Inc. – Overview
• Exhibit 94: ADT Inc. – Product / Service
• Exhibit 95: ADT Inc. – Key news
• Exhibit 96: ADT Inc. – Key offerings

• 10.4 Godrej and Boyce Manufacturing Co. Ltd.
• Exhibit 97: Godrej and Boyce Manufacturing Co. Ltd. – Overview
• Exhibit 98: Godrej and Boyce Manufacturing Co. Ltd. – Business segments
• Exhibit 99: Godrej and Boyce Manufacturing Co. Ltd. – Key offerings
• Exhibit 100: Godrej and Boyce Manufacturing Co. Ltd. – Segment focus

• 10.5 Honeywell International Inc. 
• Exhibit 101: Honeywell International Inc. – Overview
• Exhibit 102: Honeywell International Inc. – Business segments
• Exhibit 103: Honeywell International Inc. – Key news
• Exhibit 104: Honeywell International Inc. – Key offerings
• Exhibit 105: Honeywell International Inc. – Segment focus

• 10.6 Johnson Controls International Plc
• Exhibit 106: Johnson Controls International Plc – Overview
• Exhibit 107: Johnson Controls International Plc – Business segments
• Exhibit 108: Johnson Controls International Plc – Key news
• Exhibit 109: Johnson Controls International Plc – Key offerings
• Exhibit 110: Johnson Controls International Plc – Segment focus

• 10.7 Link Interactive 
• Exhibit 111: Link Interactive – Overview
• Exhibit 112: Link Interactive – Product / Service
• Exhibit 113: Link Interactive – Key offerings

• 10.8 Monitronics International Inc. 
• Exhibit 114: Monitronics International Inc. – Overview
• Exhibit 115: Monitronics International Inc. – Business segments
• Exhibit 116: Monitronics International Inc. – Key offerings
• Exhibit 117: Monitronics International Inc. – Segment focus

• 10.9 Panasonic Corp. 
• Exhibit 118: Panasonic Corp. – Overview
• Exhibit 119: Panasonic Corp. – Business segments
• Exhibit 120: Panasonic Corp. – Key offerings
• Exhibit 121: Panasonic Corp. – Segment focus

• 10.10 Robert Bosch GmbH 
• Exhibit 122: Robert Bosch GmbH – Overview
• Exhibit 123: Robert Bosch GmbH – Business segments
• Exhibit 124: Robert Bosch GmbH – Key news
• Exhibit 125: Robert Bosch GmbH – Key offerings
• Exhibit 126: Robert Bosch GmbH – Segment focus

• 10.11 Schneider Electric SE 
• Exhibit 127: Schneider Electric SE – Overview
• Exhibit 128: Schneider Electric SE – Business segments
• Exhibit 129: Schneider Electric SE – Key news
• Exhibit 130: Schneider Electric SE – Key offerings
• Exhibit 131: Schneider Electric SE – Segment focus

• 10.12 Zhejiang Dahua Technology Co. Ltd.
• Exhibit 132: Zhejiang Dahua Technology Co. Ltd. – Overview
• Exhibit 133: Zhejiang Dahua Technology Co. Ltd. – Business segments
• Exhibit 134: Zhejiang Dahua Technology Co. Ltd. – Key offerings
• Exhibit 135: Zhejiang Dahua Technology Co. Ltd. – Segment focus

11 Appendix

• 11.1 Scope of the report 

• 11.2 Inclusions and exclusions checklist
• Exhibit 136: Inclusions checklist
• Exhibit 137: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 138: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 139: Research methodology
• Exhibit 140: Validation techniques employed for market sizing
• Exhibit 141: Information sources

• 11.5 List of abbreviations 
• Exhibit 142: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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