Press release
Smart Home Security Systems Market Size Projected To Reach $98.35 Billion By 2034 With A Cagr Of 9.2%
Smart Home Security Systems
What Is the Projected Growth of the Smart Home Security Systems Market?
In the past few years, the market size for smart home security systems has seen substantial growth. It is projected to expand from a value of $63.3 billion in 2024 to a more significant $69.25 billion by 2025, with a compound annual growth rate (CAGR) of 9.4%. This growth in the historic period is largely due to the increasing use of smartphones, the integration of IoT, advancements in cloud computing, the application of machine learning in video analytics, and enhanced consumer awareness and adoption.
Expectations are high for substantial growth in the smart home security systems market over the coming years, with projections suggesting a size of $98.35 billion by 2029. The increase, forecasted at a compound annual growth rate (CAGR) of 9.2%, is predicted to be driven by factors including developments in artificial intelligence and deep learning, integration of voice assistants, the use of biometric authentication, and an emphasis on cybersecurity. Key trends during this forecast period are likely to include enhanced integration with artificial intelligence (AI), developments in interoperability and standardization, the rise of edge computing, further application of biometric authentication, and the use of environmental sensors for health and safety.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14799
What Are the Different Smart Home Security Systems Market Segments?
The smart home security systems market covered in this report is segmented -
1) By Component: Hardware, Software, Service
2) By Device Type: Smart Alarms, Smart Locks, Smart Sensors And Detectors, Smart Camera And Monitoring System, Other Device Types
3) By Types Of Homes: Independent Homes, Apartment, Condominiums
Subsegments:
1) By Hardware: Cameras, Sensors, Control Panels, Smart Locks, Alarms, Other Devices (Emotion Detectors, Door Or Window Sensors)
2) By Software: Security Management Software, Monitoring Software, Analytics Software, Mobile Applications
3) By Service: Professional Monitoring, Installation And Integration Services, Maintenance And Support Services, Cloud Services
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14799&type=smp
What Are the Primary Drivers Shaping the Smart Home Security Systems Market?
Anticipated growth in the smart home security systems market is being driven by rising crime rates. Crimes, understood as acts breaching legal prescriptions, and their frequency in specified populations or locations are what constitute crime rates. Factors such as disparities in income, social destabilization, and insufficient law enforcement contribute towards increasing crime rates. Smart home security systems offer a proactive solution through features like constant surveillance, automatic notifications, and remote access, amplifying home security. The presence of clearly visible security measures like outdoor cameras act as deterrents by announcing that the premises are securely guarded. As an example, property crime occurrences in the United States, as reported by the US-based national security agency, the Federal Bureau of Investigation, saw an uplift from 671,648 to 847,522 between 2021 and 2022, a notable increase of around 26.2% in October 2023. Thus, rising crime rates are a significant factor propelling the expansion of the smart home security systems market.
Which Companies Are Leading in the Smart Home Security Systems Market?
Major companies operating in the smart home security systems market are Siemens AG, General Electric Company, Panasonic Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Daikin Industries Ltd., Toshiba Corporation, Johnson Controls International plc, Carrier Global Corporation, Koninklijke Philips N.V., Trane Technologies plc, Emerson Electric Co., Legrand S.A., Osram GmbH, Acuity Brands Inc., Itron Inc., Vivint Inc., Cree Inc., Canary Connect Inc., Frontpoint Security Solutions LLC, Pacific Controls Inc., Abode Systems Inc., SimpliSafe Inc.
What Trends Are Expected to Dominate the Smart Home Security Systems Market in the Next 5 Years?
The smart home security systems market is dominated by leading companies that are aggressively developing state-of-the-art solutions, including wireless home automation solutions. These efforts aim to increase user ease, improve system integration and deliver real-time monitoring and control, thereby increasing the safety and protection of homeowners. Wireless home automation solutions are systems and technology that let homeowners oversee and control various devices and operations within their homes using wireless communications. For example, in September 2024, ABB Ltd., a Switzerland-based firm providing automation services, unveiled ABB-free@home, a pioneering wireless home automation system crafted to boost convenience, safety, and energy efficiency for residential consumers. This system leverages the Matter standard, an open-source communication protocol enabling various smart devices to interact efficiently within the home ecosystem. This function enhances the personalization and growth of smart home configurations.
Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/smart-home-security-systems-global-market-report
What Are the Top Revenue-Generating Geographies in the Smart Home Security Systems Market?
North America was the largest region in the smart home security systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart home security systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Home Security Systems Market?
2. What is the CAGR expected in the Smart Home Security Systems Market?
3. What Are the Key Innovations Transforming the Smart Home Security Systems Industry?
4. Which Region Is Leading the Smart Home Security Systems Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Home Security Systems Market Size Projected To Reach $98.35 Billion By 2034 With A Cagr Of 9.2% here
News-ID: 4030449 • Views: …
More Releases from The Business Research Company
Seed Treatment Fungicides Market to Grow at 9.3% CAGR, Reaching $3.15 Billion by …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Seed Treatment Fungicides Market Outlook: How is the Market Expected to Grow by 2025?
Over the past few years, the market for seed treatment fungicides has seen robust growth. Its market value is projected to rise from $2.07 billion in 2024 to $2.21 billion in 2025, signifying a compound annual…
Rheology Modifiers Market Growth to be Driven by Emerging Trends | $10.92 Billio …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Rheology Modifiers Industry?
There has been a consistent expansion in the size of the rheology modifiers market in the past few years. The market, which was worth $8.59 billion in 2024, is projected to increase to $8.89 billion in 2025, demonstrating a compound…
Polyurethane Foam Market to Record 8.4% CAGR Growth Through 2029 | Global Analys …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Polyurethane Foam Market Outlook: How is the Market Expected to Grow by 2025?
In recent years, the size of the polyurethane foam market has experienced substantial growth. It is projected to increase from a value of $54.27 billion in 2024 to $57.26 billion in 2025, indicating a compound annual growth…
Pharmaceutical Intermediates Market Size to Reach $46.04 Billion by 2029 | Growt …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Pharmaceutical Intermediates Industry?
There has been consistent growth in the market size of pharmaceutical intermediates over the past few years. The market is predicted to increase from a value of $33.37 billion in 2024, up to $34.95 billion in 2025, with a compound…
More Releases for Smart
Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order…
Internet of Things (IoT) Devices Market By Type (Computing Devices, Smart Media, …
On a global scale, the Internet of Things (IoT) Devices market is currently showing significant development. The innovative methods and market study have helped many of the major players Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, LG Electronics, Google, Panasonic, Microsoft, Brother Industries, Honeywell, Fitbit, Lenovo to carve a name for themselves in the competitive global market. The Internet of Things (IoT) Devices market is experiencing a massive growth…
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview
The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands also has great examples of emerging…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
The global smart city transformation is underway
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands…
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency…
