Home security solutions market estimated to reach $121.4 billion by 2030

Home security

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The home security solutions market was valued at $48.1 billion in 2021 and is estimated to reach $121.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 10.56% from 2022 to 2030, a new report says.

Home security solutions include systems that assist people in protecting their houses from invaders. The report, published by ResearchAndMarkets, says that installing home security systems can be one of the most effective methods of safeguarding homes against intruders, robbery, theft, fire and poisons. Home security systems include video surveillance, access control, fire alarms, motion detectors and other devices.

The report says that some of the biggest players in this market include Johnson Controls, Nortek Security & Control, Honeywell International and Assa Abloy.

Key findings from the report:

  • By type, software is predicted to have the maximum market share in the forecast period
  • By solution, access control systems are anticipated to show the fastest growth during the forecast period
  • By installation, the do-it-yourself (DIY) sub-segment is anticipated to have the fastest growth during the forecast period
  • By end use, independent homes are predicted to be the most dominant sub-segment owing to increased security concerns for residential places, due to rapidly increasing cases of theft in homes
  • By region, LAMEA region is projected to remain the fastest-growing segment during the forecast period
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