Pune, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Outlook:
According to the SNS Insider Report “The Intruder Alarm System Market size was valued at USD 2.52 Billion in 2023 and is expected to grow to USD 5.91 Billion by 2032 and grow at a CAGR of 9.9% over the forecast period of 2024-2032.”
Growing need for home security systems due to increasing worries about safety and advancements in technology.
The intruder alarm system market is experiencing steady growth, fueled by heightened security concerns for homes and businesses and advancements in technology. These systems, designed to detect unauthorized entry and alert homeowners or security personnel, are increasingly favored due to the growing emphasis on safety and the integration of smart home features. In 2023, around 39 million households in the United States utilized alarm systems across residential and commercial sectors, with projections indicating an additional 13 million households adopting new systems in 2024. However, challenges such as high installation and maintenance costs, privacy concerns, and a lack of industry standardization continue to impede broader adoption.
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Dominant Market Players Listed in this Research Report are:
- Godrej & Boyce Mfg. Co. Ltd (Electronic Security Systems)
- Johnson Controls (Tyco Security Products)
- Robert Bosch GmbH (Bosch Intrusion Alarm Systems)
- Honeywell International Inc (Honeywell Security Solutions)
- ADT (ADT Pulse Smart Home Security)
- Assa Abloy Group (Assa Abloy Alarm Systems)
- Hangzhou Hikvision Digital Technology Co., Ltd (Hikvision Intruder Alarms)
- Banham Group (Banham Intruder Alarm Systems)
- Securitas AB (Securitas Alarm Services)
- Risco Group (Risco Intruder Alarm Systems)
- Napco Security Technologies (Napco Intruder Alarm Systems)
- Axis Communications (Axis Network Cameras and Alarm Systems)
- Dahua Technology Co., Ltd (Dahua Intruder Alarm Solutions)
- Infinova (Infinova Security Alarm Systems)
- Vivint (Vivint Smart Home Security)
- Netgear (Arlo Smart Security Cameras)
- Kidde (Kidde Security Alarms)
- iControl Networks (iControl Home Security Solutions)
- Frontpoint Security (Frontpoint Home Security Systems)
- SecureNet (SecureNet Monitoring and Alarm Solutions)
- Ring (Ring Alarm Security Kit)
Intruder Alarm System Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 2.52 Billion |
| Market Size by 2032 | USD 5.91 Billion |
| CAGR | CAGR of 9.9% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Wired Alarm System, Wireless Alarm System, Hybrid Alarm System) • By Component (Hardware, Alarm Sensors, RTU, Central Monitoring Receiver, Motion Detection Sensor, Others, Software, Services) • By Application (Residential, Commercial & Industrial) |
| Key Drivers | • Increasing Need for Home Intruder Alarm Systems • Increasing demand for intruder alarm systems is being fueled by advancements in technology. |
Swift Growth of the Home Security System Industry in Light of Increasing Safety Worries.
The home security system market is rapidly expanding, driven by increasing concerns about residential safety and advancements in smart home technologies. As homeowners prioritize protection against burglaries, the intruder alarm system market is gaining traction, with an estimated 13 million new installations expected in 2024. In 2023, approximately 39 million U.S. households utilized alarm systems, highlighting a fragmented market with 57,238 businesses. Despite challenges like installation costs and privacy issues, the demand for comprehensive security solutions continues to rise.
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Segment Analysis of the Intruder Alarm System Market: Wireless Alarm Systems and the Rise of Residential Security Solutions.
By Type
In 2023, wireless alarm systems held the largest market share, capturing approximately 49.67% of the Intruder Alarm System Market. This segment's dominance is driven by its ease of installation, flexibility, and the growing preference for smart home technologies that enhance user convenience. Wireless systems eliminate the need for extensive wiring, making them ideal for both new constructions and retrofitting existing properties. The increasing adoption of IoT-enabled devices further supports the growth of this segment, as consumers seek seamless integration between their security systems and other smart home applications.
By Application
The residential segment accounted for the largest share of revenue in the Intruder Alarm System Market, reaching 64.56% in 2023. The surge in demand is propelled by the rising number of burglaries and thefts, leading homeowners to prioritize security measures. Additionally, the advent of smart home technologies has made it easier for homeowners to implement comprehensive security solutions. The growth in this segment is also supported by consumer awareness and the availability of user-friendly security systems that can be easily managed through mobile applications.
The Intruder Alarm System Market in North America Leading with Regional Dynamics, While Asia Pacific Shows Rapid Growth.
In 2023, North America emerged as the largest market for intruder alarm systems, accounting for 34.44% of the total market share. This dominance can be attributed to the high penetration of advanced security technologies and the presence of key market players such as ADT and Honeywell. The increasing adoption of smart home devices and the demand for comprehensive security solutions among both residential and commercial users further bolster the region's growth. Additionally, government initiatives promoting security infrastructure in urban areas are contributing to market expansion.
Asia Pacific is poised to be the fastest-growing region in the Intruder Alarm System Market, driven by rapid urbanization, rising disposable incomes, and increasing security concerns. Countries like China and India are witnessing significant investments in smart city initiatives, leading to a surge in demand for advanced security systems. Additionally, local companies are launching innovative products tailored to regional needs, enhancing the overall market landscape. For instance, Hangzhou Hikvision has introduced various IoT-enabled security solutions, solidifying its position in the market.
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Recent Development
- On February 11, 2024, Ring launched the Ring Battery Video Doorbell Pro, its most advanced battery-powered doorbell. Unlike previous models that required a wired connection, this new version features 3D motion detection and Bird's Eye View for improved accuracy and flexibility in motion alerts while minimizing false positives.
- On December 20, 2022, ADT UK and Ireland launched the ADT Smart Home Hub, a new touchscreen alarm panel for their ADT Smart Home system .
- August of 2021, Honeywell has introduced the Morley MAx fire detection and alarm system, which aids in the protection of buildings and occupants.
Table of Contents - Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Wafer Production Volumes, by Region (2023)
5.2 Chip Design Trends (Historic and Future)
5.3 Fab Capacity Utilization (2023)
5.4 Supply Chain Metrics
6. Competitive Landscape
7. Intruder Alarm System Market Segmentation, by Type
8. Intruder Alarm System Market Segmentation, by Component
9. Intruder Alarm System Market Segmentation, by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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