Austin, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Smart Home Security Market Size & Growth Insights:
According to the SNS Insider,“The Smart Home Security Market was valued at USD 72.42 billion in 2023 and is expected to reach USD 169.63 billion by 2032, growing at a CAGR of 9.96% over the forecast period 2024-2032.”
This growth is driven by increasing consumer demand for advanced security solutions, rising concerns over home safety, and the integration of artificial intelligence (AI) and Internet of Things (IoT) technologies. Key trends in the market include strong device and feature preferences among consumers in 2023, with smart cameras, motion detectors, and AI-driven surveillance systems gaining popularity. Additionally, the implementation of these technologies has led to a significant reduction in security incidents, further enhancing user confidence and boosting adoption rates. The retention rate for smart home security systems remains high, driven by continuous advancements in automation, remote monitoring capabilities, and seamless integration with smart home ecosystems. Growing urbanization, the expansion of smart city initiatives, and increasing disposable income levels further contribute to the widespread adoption of smart home security solutions worldwide.
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Leading Market Players with their Product Listed in this Report are:
- ADT Inc. (ADT Command, ADT Pulse)
- Vivint, Inc. (Vivint Smart Home, Vivint Outdoor Camera)
- Ring (Ring Video Doorbell, Ring Alarm)
- SimpliSafe (SimpliSafe Home Security System, SimpliCam)
- Arlo Technologies (Arlo Ultra 2, Arlo Pro 4)
- Google Nest (Nest Secure, Nest Cam IQ)
- Frontpoint (Frontpoint Security System, Frontpoint Outdoor Camera)
- Abode (Abode Iota, Abode Security Kit)
- Eufy Security (EufyCam 2, Eufy Security Doorbell)
- Honeywell Home (Lyric T6 Pro, Total Connect 2.0)
- RingCentral (Ring Protect, Ring Video Doorbell Pro)
- Lorex (Lorex 4K Security Camera, Lorex Smart Home)
- Kwikset (Kwikset Kevo Smart Lock, Kwikset Halo Smart Lock)
- Canary (Canary Pro, Canary Flex)
- RoboGuard (RoboGuard Smart Camera, RoboGuard Smart Alarm).
Smart Home Security Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 72.42 Billion |
| Market Size by 2032 | USD 169.63 Billion |
| CAGR | CAGR of 9.96% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Drivers | • Rising Demand for Smart Security Solutions Driven by Smart Homes IoT Integration and Mobile Monitoring. • AI Cloud Integration and Smart Cities Drive Growth and Innovation in Commercial and Residential Security. |
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Key Industry Segmentation
By Type, Intelligent Video Surveillance Leads, While Access Control Systems Gain Momentum
In 2023, the Smart Home Security Market was led by Intelligent Video Surveillance, capturing 44.7% of the market share, due to its advanced monitoring and threat detection capabilities. Utilizing AI and machine learning, these systems provide facial recognition, motion detection, and anomaly detection features, allowing for proactive and real-time security responses. With crime and security threats taking on more sophisticated forms, video surveillance is now increasingly utilized by businesses and homeowners alike in order to protect their property.
Access Control Systems are expected to witness the highest CAGR from 2024 to 2032, due to their essential function in managing secure entry points across commercial and industrial areas. These systems assist in limiting unauthorized access to offices, factories, and government structures, with increasing utilization of biometric and touchless confirmation. The accelerating growth of access control solutions as a key element of modern security infrastructure is driven by increased focus on workplace and personal security and advances in technology.
By Protocol, Hybrid Dominates, While Wireless Protocols Surge in Adoption
In 2023, the Hybrid segment led the Smart Home Security Market with a 43.2% share, offering a balanced approach by integrating both wired and wireless components. Hybrid solutions combine the stability and reliability of wired connections with the flexibility and scalability of wireless technologies, making them ideal for diverse residential and commercial applications. They effectively address challenges like signal interference near metal objects and long-range security requirements, where fully wireless solutions may struggle.
Wireless Protocols are set to experience the highest CAGR from 2024 to 2032, fueled by the increasing need for seamless connectivity and the widespread uptake of smart home devices. Providing interconnectivity through wireless communication standards (Zigbee, Z-Wave, Wi-Fi), the devices can be easily installed and affordable as wiring is not needed. With the ever-growing integration of IoT within domestic homes and businesses alike, wireless security systems provide additional interoperability, further establishing them as an appealing option in contemporary security architectures.
By Application, Commercial Leads, While Residential Security Sees Rapid Growth
In 2023, the Commercial segment dominated the Smart Home Security Market, holding a 47.8% share due to the heightened focus on security across business environments. Offices, retail spaces, warehouses, and industrial facilities face increased risks of theft, vandalism, and unauthorized access, driving demand for advanced security solutions such as intelligent video surveillance and access control systems. Businesses are investing heavily in integrated security systems that not only enhance protection but also enable remote monitoring and automation, offering greater operational efficiency.
The Residential segment is projected to witness the highest CAGR from 2024 to 2032, owing to increased penetration of smart home solutions. Growing fears of burglaries and personal security have fueled demand for affordable and easy-to-use security solutions, from video doorbells to smart cameras and motion detectors. Residential Security Solutions Key Component in Modern Smart Homes With increasingly accessible and easy to use smartphone integration residential security solutions are a critical aspect of the modern smart home.
Smart Home Security Market - Segments
By Type
Smart Intruder Alarms
Intelligent Video Surveillance
Access Control Systems
Others
By Protocols
Wireless Protocols
Wired Protocols
Hybrid
By Application
Commercial
Residential
Industrial
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Asia Pacific Leads Growth, Driven by Urbanization and Smart Security Adoption
In 2023, Asia Pacific accounted for 36.5% of the Smart Home Security Market and is projected to experience the highest CAGR from 2024 to 2032 The demand for intelligent security solutions in the region is powered by rapid urbanization, a burgeoning middle-class population and rising security concerns. The growing smart cities and large-scale infrastructure projects in countries such as China, India, Japan, and South Korea is further offering adoption potential due to rise in security threats in urban hubs. IoT-connected security systems are on the rise in India, as homeowners in cities such as Bengaluru and Mumbai incorporate smart surveillance and automated features into their properties. Countries, such as Japan, have long been implementing high-end security solutions in both domestic and corporate environments, with leading brands, including Panasonic and Sharp, leading the charge. Intelligent home security will be a key focus in Asia Pacific, as security threats evolve.
Table of Contents - Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Device and Feature Preferences (2023)
5.2 Security Incident Reduction (2023)
5.3 Retention Rate
5.4 Adoption Rate
6. Competitive Landscape
7. Smart Home Security Market, by Type
8. Smart Home Security Market, by Protocols
9. Smart Home Security Market, by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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