Home Security Products and Solutions Market Report | 2021-2026

Market Insights

The Home Security Products and Solutions Market is estimated to grow from USD xx billion in 2020 to USD xx billion by 2026 at a healthy CAGR of 9.7% during the forecast period.

Figure: Home Security Products and Solutions Market Size, 2020-2026 (USD Billion)

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What are home security products and solutions?

Home security products and solutions are electronic security systems that are designed and used to monitor personal property, homes, living premises, and residential setups to protect them from crimes such as homicides, robberies, property crimes, and home intrusions.

Market Dynamics

The growing need for home security solutions has led to the entrance of home security service providers across the globe, positively boosting the product demand. Also, due to the increase in instances of safety concerns, the need for security measures by residential homes, the industry is expanding. Integrated home security systems enable monitoring of residences by connecting them to smartphones is an outcome of the emergence of smart homes, thus offering lucrative opportunities to the industry players.

Key Players

Key players operating in the home security products and solutions market are-

• Assa Abloy (Sweden)
• United Technologies Corporation (US)
• Honeywell International Inc. (US)
• Robert Bosch GmbH (Germany)
• Ingersoll Rand (Ireland)
• Allegion PLC (Ireland)
• Godrej & Boyce Manufacturing Company Limited (India)
• Control4 Corporation (US)
• Alarm.com (US)
• Nortek Security & Control LLC (US)

COVID-19 Impact

The COVID-19 outbreak has moderately affected the home security products and solutions industry. The ongoing COVID-19 pandemic has negatively influenced the infrastructure development industry and so the product demand. This is mainly due to soaring coronavirus cases, implementation of stringent lockdown measures, and limited movement of people to curb the spread of the virus. Considering stringent government regulations, the construction and infrastructure development industry has suspended its operation, thus affecting the market growth.

Segments Analysis

Solution Trends

• The home security products and solutions market is classified into the medical alert system, access control & management solution, intruder alarm solution, intercom system, video surveillance solution, fire protection system, an integrated security solution.
• The video surveillance solution segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline.
• Video analytics improves the performance of video surveillance systems through post-event analysis, real-time event detection, and statistical data extraction while saving manpower costs and improving the effectiveness of the surveillance system operations, further bolstering the segment growth.

Regional Trends on Home Security Products And Solutions Market

"North American market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years"

• This is mainly ascribed to a rise in household income, rapid urbanization, change in lifestyles of the population, and early adoption of home security systems in this region.
• Moreover, the introduction of IoT and the development of smart cities further proliferate the regional market growth.

Critical Questions Answered in the Report

• What are the key trends in the home security products and solutions market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on home security products and solutions?
• What are the key strategies adopted by the major vendors to lead in the home security products and solutions market?
• What is the market share of the top vendors?

Target Audience

Here is the list of the group of customers that the home security products and solutions market hopes to have the greatest opportunity to convert-

• Home security products and solutions vendors
• Home security products and solutions retailers
• Security companies
• Video surveillance companies

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