Lucintel’s latest market report analyzed that home security provides attractive opportunities in the residential sector. The home security market is expected to reach $62.3 billion by 2025 with a CAGR of 7.9%. In this market, service is the largest segment by product and service type, whereas professional is largest by type of installation. The adoption of artificial intelligence and machine learning software in the residential security sector and constant developments of security technologies, such as smart cameras and sensors provides strategic growth path in this market.
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Based on product and service type, the home security market is segmented into equipment and service. The service segment accounted for the largest share of the market in 2020 due to the increasing need for continuous monitoring services to reduce the risk of crime, burglary, and theft. The equipment segment is expected to register the highest CAGR during the forecast period, supported by the increasing demand for electronic locks and intruder alarms to protect unauthorized access in residential premises.
Browse in-depth TOC on “Home Security Market”
60 – Tables
83 – Figures
140 – Pages
The home security market is marked by the presence of several big and small players. Some of the prominent players offering home security include ADT Corporation, Monitronics International, Vivint Inc., Protection One, and UTC Fire & Security.
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