Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Access control systems limit access to protected portions of a home, building, drawer, or other location that contains valuables, data, or sensitive information. These automated solutions offer 24/7 access as well as 24/7 protection. Entry control systems are becoming more widely used in home security because they provide quick and easy access to a designated individual while recording and monitoring visitors' movements.
The home security systems market is seeing its fastest-ever advancement and evolution of access control technologies. And the widespread use of these systems for home security is a result of the demand for improved security brought on by emerging dangers, a rise in smart homes, and rising liability. Source: Secondary Research, Primary Research, MRFR Database and Analyst Review.
Figure 1: Bluetooth smart Home Device shipment share, in% by (2021-2022)
Additionally, most homeowners' access control systems merely include a deadbolt lock on the front and back doors of the house and a key-locking door handle. But sliding glass doors and similar doors are secured by a toggle lock, which could be more burglar-proof. The security of homes may be improved by adding more access control security to these areas. Such events may increase the need for access control systems to increase home security. Various access control systems can lock and unlock doors from home security systems market manufacturers. This feature is becoming increasingly popular for home security throughout the globe.
According to FBI data on home burglaries, a house burglary happens every 13 seconds, four every minute, 240 per hour, and over 6,000 per day. As opposed to one in every 250 homes with security systems, it also claims that one in three homes without security systems may experience a burglary. Additionally, modern home security systems are widely used due to several advantages. The unmatched connection, control, and accessibility of the current generation of home security solutions, together with the capability for homeowners to remotely access numerous tasks using a PC or a smartphone, are fueling this segment's sales development.
Based on Product, the Home Security Systems market segmentation includes Cameras, Sensors, Biometrics, and Smart Cards. In 2022, the market for home security systems services will be dominated by the need for cameras. The appropriate installation of hardware items, such as smart locks, controllers and readers, emergency security systems, and monitoring tools like TVs and PDAs, is part of a home security system that uses cameras. System integration may include allowing these devices to connect and send communication signals.
Based on Type, the Home Security Systems market segmentation includes Video Surveillance solutions, Medical Alert systems. In terms of systems, the home security systems market is anticipated to be dominated by the segment of video surveillance systems in 2022. The video surveillance system provides security, monitoring, and analysis of suspicious movements of people over a perimeter is one of its main advantages. The hardware components of video surveillance systems, including cameras, displays, servers, storage units, and other accessories, make up a sizable portion of the systems. The hardware goods now on the market are both economical and cutting-edge in terms of technology. One of the most current and appealing innovations in the video surveillance industry is high-definition (HD) cameras, panoramic cameras, and body-worn or spy cameras.
Figure 2: Home Security Systems Market, by Type, 2021 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. Asia Pacific Home Security Systems market accounted for USD 18.79 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. China's security industry has been growing for more than 40 years. The application sectors for the security system have significantly expanded in recent years after initially only being used in a small number of specialized units and departments. Cameras are everywhere, and the Chinese security industry has seen significant changes. In the previous two decades, the market has grown fast. Due to the country's considerable Growth in industrial capacity and rising consumer expenditure, China's society and economy have undergone tremendous upheaval. China is a prominent producer of both consumer and industrial goods. China is now outpacing other economies in market growth for the consumption of products and services.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Home Security Systems Market, by Region, 2021 & 2030 (USD Million) 
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market for North America home security systems in generated $10,041.50 million in sales in 2021 and is anticipated to reach $28,374.40 million in revenue by 2030. This is mostly attributable to the pandemic in 2020 and the rapid technological advancements that have increased the Home Security Systems industry in the North American area. Additionally, top competitors like Vivint, Inc have a strong presence. One of the main forces behind the expansion of home security systems is ADT LLC. For instance, ADT LLC, doing business as ADT Security Services, has more than eight million clients in North America. The market demand is rising due to the rising acceptance of DIY installation solutions and the demand for home security systems. Moreover, the US Home Security Systems market held the largest market share, and the Canada Home Security Systems market was the fastest-growing market in the Asia-Pacific region.
Due to a greater incidence of urbanization and a booming building industry, Europe's Home Security Systems market holds the third-largest market share. It is a major contributor to this area's overall home security systems market growth. The Region's economic expansion and technical improvements are two reasons that are anticipated to boost demand for security systems. In the upcoming years, the market for residential fire prevention systems is anticipated to increase faster than in the construction and real estate sectors. Moreover, the UK Home Security Systems market held the largest market share, and the Germany Home Security Systems market was the fastest-growing market in the Asia-Pacific region.
Major market players are investing a lot of money in R&D to expand their product portfolios, which will spur further market growth for the Home Security Systems market. With significant industry changes, including new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. Home Security Systems industry competitors must provide affordable products to grow and remain in a market that is becoming more competitive.
Manufacturing locally to cut operational costs is one of the main business tactics used by the Home Security Systems industry to serve customers and increase the market sector. The Home Security Systems industry has recently given medicine some of the most important advantages. The Home Security Systems markets major players such as Medtronic Inc (Ireland), Abbott Laboratories (US), Stryker Corporation (US), and others are working on expanding the market demand by investing in research and development activities.
ADT and HHHunt, Inc., a diversified real estate development company, announced their collaboration in February 2020. Through this relationship, home automation and security solutions are now more prevalent in both new and existing multifamily and student housing complexes in the United States. The smart houses' smart home security systems will incorporate items like smart locks, smart hubs, and smart thermostats. This agreement will provide consumers in the United States with personalized smart security solutions, accelerating market expansion.
Vivint is a publicly traded smart home firm in the United States and Canada. In 1999, Keith Nellesen and Todd Pedersen started it. Keith Nellesen and Todd Pedersen established APX Alarm Security Solutions in Provo, Utah. [3][4] The business sold and installed security systems during that time. Vivint, Inc. introduced the Vivint Doorbell Camera Pro in March 2020. This updated camera model is the first to offer a 1:1 aspect ratio and a 180-degree vertical and horizontal view. This camera combines optics, deterrent features, and intelligence to meet client demands.
• 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)
January 2024: For example, in January 2024, Xiaomi released the 360 Home Security Camera 2k, which is equipped with AI Human detection, 2k quality and 360 best views.
Cameras
Sensors
Biometrics
Smart Cards
Video Surveillance Solution
Medical Alert System
North America
Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 50.4 Billion |
| Market Size 2024 | USD 54.0 Billion |
| Market Size 2032 | USD 92.9 Billion |
| Compound Annual Growth Rate (CAGR) | 7.0% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Operating Platforms, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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) |
| Key Market Opportunities | Real estate and construction are both developing quickly. |
| Key Market Dynamics | A rise in criminal activity Technological development in remote monitoring using smartphones Rising interest in smart houses |
Home Security Systems Market Highlights:
Frequently Asked Questions (FAQ) :
The Home Security Systems market size was valued at USD 50.4 Billion in 2023.
The Home Security Systems market is projected to grow at a CAGR of 7.0% during the forecast period, 2024-2032.
Asia Pacific had the largest share of the Home Security Systems market.
The key players in the market are 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)
The Cameras Home Security Systems category dominated the market in 2023.
The video surveillance solution had the largest share in the Home Security Systems market.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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