Press release
Smart Home Security Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Smart Home Security
The global rise in crime rates is fueling the expansion of the smart home security market. As these rates climb, consumers are increasingly shifting their focus towards safety and security systems, particularly in residential sectors. To ensure safety and security, smart home devices like smart alarms, smart cameras, and smart lockers are being favored by households. For example, the United States Department of Justice, a US-based governmental department, reported in October 2023, that Hate crime incidents had increased by 794 cases in 2022, bringing the total figure to 11,634 cases, a rise from 10,840 in 2021. Consequently, this global escalation in crime rates is driving the growth of the smart home security market.
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What growth opportunities are expected to drive the smart home security market's CAGR through 2034?
The expansion of the smart home security market has been swift and substantial in the past few years. The market, valued at $33.32 billion in 2024, is projected to increase to $38.07 billion in 2025, representing a compound annual growth rate (CAGR) of 14.3%. The substantial growth observed throughout the historic period is due largely to factors such as enhanced awareness and education among consumers, concerns pertaining to security and safety, remote supervision and control capabilities, integration with other smart home ecosystems, and incentives provided by insurance companies.
In the coming years, the smart home security market is predicted to experience significant growth, expanding to a market size of $71.17 billion in 2029 at a CAGR of 16.9%. This expansion during the forecast period can be linked to several factors, including the incorporation of artificial intelligence and machine learning, concerns over privacy and data security, the demand for customization and personalization, the proliferation of DIY installations, progress in smart city initiatives, and collaborative efforts. Noteworthy trends for this period encompass the utilization of behavioral analytics for threat identification, programs for cybersecurity learning and education, integration within smart home ecosystems, the growing popularity of DIY security solutions, and partnerships with law enforcement.
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What are the emerging trends shaping the future of the smart home security market?
The production of smart home security systems is experiencing a shift as manufacturers start to incorporate AI-based visual recognition technologies into their devices. This evolution of AI is reaching a phase where facial and visual identification processes are used for security verification. Innovative security validation frameworks are being developed, integrating AI tech into home security devices such as consumer video cameras, and taking advantage of facial recognition, fingerprint, and voice recognition for enhanced safety. AI is also being recommended for use in smart alarms to compile databases of all alert signals, which can be evaluated to anticipate false alarms. For example, Infineon Technologies AG, a semiconductor company based in Germany, introduced its battery-operated Smart Alarm System (SAS) in June 2022. This technology platform utilizes sensor fusion powered by AI and ML (machine learning) to ensure high accuracy and extremely low-power consumption. The platform astonishes with its performance when combined with low-power wake-on acoustic event detection. The sleek design promises a long battery life equal to or better than less advanced systems, and ensures superior detection accuracy compared to current acoustic-only alarm systems used in smart homes, buildings, and other IoT applications.
Which growth-oriented segments of the smart home security market are leading the industry's development?
The smart home security market covered in this report is segmented -
1) By Product: Smart Alarms, Smart Camera And Monitoring System, Smart Locks And Sensors, Smart Detectors
2) By Component: Hardware, Software, Service
3) By Application: Independent Homes, Apartments, Condominiums
Subsegments:
1) By Smart Alarms: Motion Sensors, Door Or Window Sensors, Smart Sirens, Smart Alert Systems
2) By Smart Camera And Monitoring System: Indoor Security Cameras, Outdoor Security Cameras, Video Doorbells, Smart Surveillance Systems
3) By Smart Locks And Sensors: Smart Deadbolts, Keyless Entry Systems, Smart Door Sensors, Smart Padlocks
4) By Smart Detectors: Smoke Detectors, Carbon Monoxide Detectors, Water Leak Detectors, Glass Break Sensors
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What regions are leading the charge in the smart home security market?
Asia-Pacific was the largest region in the smart home security market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global smart home security market report during the forecast period. The regions covered in the smart home security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the smart home security market?
Major companies operating in the smart home security market include Amazon.com Inc., Google LLC, Comcast Corporation, AT&T Inc., Robert Bosch GmbH, United Technologies Corporation, Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., G4S plc, Assa Abloy AB, ADT Inc., Vivint Smart Home Inc., NETGEAR Inc., Alarm.com Holdings Inc., Legrand North America LLC, SimpliSafe Inc., Ring LLC, Samsung Electronics Co. Ltd., Protect America Inc., August Home Inc., SkyBell Technologies Inc., Canary Connect Inc., Frontpoint Security Solutions LLC, LiveWatch Security LLC, Allegion plc, Control4 Corporation, Godrej & Boyce Manufacturing Company Limited, Nortek Security & Control LLC, Johnson Controls International plc, Abode Systems Inc., Zmodo Technology Corporation Ltd.
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What Is Covered In The Smart Home Security Global Market Report?
•Market Size Forecast: Examine the smart home security market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart home security market for a structured understanding.
•Key Players Overview: Analyze major players in the smart home security market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart home security market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart home security market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart home security market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart home security market.
•Competitive Landscape: Review strategic developments in the smart home security market, including expansions, agreements, and new product launches.
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