The global market for home security systems is projected to have considerable CAGR of around 8.5% during the forecast period. The major factor driving the market of home security systems include  significant growth in the demand for intelligent home security systems such as smart doorbell cameras and smart locks across the globe. The growing concern for the security & comfort in homes further projected tp propel the demand of home security solutions. Smart homes system comprises various devices and information technology that connects gadgets and instruments in the house to provide enhanced comfort, convenience, security & entertainment to resident in a sustainable way. Additionally the implementation of IoT and AI technology in the home security systems further provide significant opportunity to the market. 

Segmental Outlook  

The global home security systems market is segmented based on product type and systems. Based on the product type, the market is further classified into hardware and software & services. The hardware segment is projected to hold significant share in the global home security systems market. The growth of the market is mainly driven due to the significant demand of IP camera devices and smart lock systems for home security. On the basis of systems the market is further segregated into access control system (ACS), fire protection systems, video surveillance systems, intruder alarm solution, and others. 

Global Home Security Systems Market Share by Application, 2019 (%)

Global Home Security Systems Market to be driven by access control systems

Among systems, the access control systems segment held a considerable growth in the market owing to growing requirement of access management in smart home infrastructure coupled with rising smartphone integration with access control systems. Moreover, technological advancement in the in the ACS further contribute in the market growth. For instance, in June 2018, August Home, Inc. (a provider of smart home access products) partnered with Alarm.com, a US based firm that offers cloud based services for home automation and remote control. With this partnership, the Smart Lock Pro of August Home, Inc. is now totally combined with Qolsys, Nortek, Interlogix and DSC. These are popular security panels of Alarm.com that allows homeowners to control access and lock/unlock to the front door remotely through the August and Alarm.com mobile apps. Additionally, with the integration of both these platforms, it enables to offer multi-device security system that will offer complete knowledge, control and keyless convenience to the homeowners as well as provides the control who enter the home. 

Regional Outlook 

Geographically, the global home security systems market is further classified into North America, Europe, Asia-Pacific and the Rest of the World. Asia-Pacific is projected to hold a significant market share in the global home security systems market during the forecast period. Major economies which are anticipated to contribute to Asia-Pacific home security systems market include China, India Japan and others. The major factors contributing to the growth of the market in the region include the rising demand of home security systems coupled with rising disposable income in emerging economies. Asia-Pacific homes nearly two-third of global population which have led to the significant demand of home security across the region. Moreover, rapid urbanization and government support for smart home and smart city projects are also fueling the Asia-Pacific home security market during the forecast period. 

Global home security systems Market Growth, by Region 2020-2026

North America to hold a considerable share in the global home security systems market

Geographically, North America have significant share in the global home security systems market.  The advancement of home security systems for various application in North America such as the US and Canada coupled with integration of smart technology such as AI in home security systems are further making a considerable contribution towards the market in the region. According, to US Mayors, $10 million in proposed investments and more than $35 million in new grants to build a research infrastructure for smart city development by the National Science Foundation and National Institute of Standards and Technology in the North American region. Almost $70 million in new spending and more than $45 million in proposed investments was announced by the Department of Homeland Security, the Environmental Protection Agency and Department of Transportation, Department of Energy, Department of Commerce to develop new smart city solutions. Therefore significant investment for the smart home and smart city solutions further provide significant share to the market. 

Market Players Outlook

The key players in the home security systems market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include ADT Inc., Assa Abloy AB, Honeywell International Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Johnson Controls, Inc., and others. These market players adopt various strategies such as product launch, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. 

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global home security systems market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.