Press release
Elevated Crime Rates Fueling Growth In The Smart Home Security Market Driving Market Acceleration in the Smart Home Security Industry, 2025
Smart Home Security
How Large Will the Smart Home Security Market Size By 2025?
The size of the smart home security market has experienced swift expansion in the past years. The market size is predicted to surge from $33.32 billion in 2024 to $38.07 billion in 2025, reflecting a compound annual growth rate (CAGR) of 14.3%. The surge throughout this historic period can be linked to factors such as heightened safety and security worries, increased consumer understanding and education, the ability to monitor and control remotely, the incorporation into smart home ecosystems, and insurance incentives.
How Big Is the Smart Home Security Market Size Expected to Grow by 2029?
In the coming years, the smart home security market is projected to experience a significant expansion. The market is anticipated to increase to $71.17 billion by 2029, with a compound annual growth rate (CAGR) of 16.9%. The projected growth during this period can be ascribed to factors such as the incorporation of artificial intelligence and machine learning, concerns over privacy and data security, customization and personalization options, the emergence of DIY installations, smart city projects, and partnerships. Key trends expected during this forecast period encompass behavioral analytics for recognizing threats, increase in cybersecurity training and education, integration into smart home ecosystems, the growth of DIY security systems, and collaboration with law enforcement agencies.
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Which Key Market Drivers Powering Smart Home Security Market Expansion and Growth?
The growth of the smart home security market is being fuelled by rising global crime rates. As crime rates rise, safety and security systems are becoming increasingly popular among consumers, especially those who live in residential areas. Homeowners are now preferring to use smart home devices like smart alarms, smart cameras, and smart lockers to ensure their safety and security. For example, in October 2023, the United States Department of Justice, a US government department, reported that hate crime cases grew by 794 in 2022 to reach a total of 11,634, an increase from the 10,840 cases reported in 2021. Hence, the global upsurge in crime rates is accelerating the growth of the smart home security market.
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Which Fast-Growing Trends Are Poised to Disrupt the Smart Home Security Market?
Manufacturers of smart home security systems are progressively incorporating AI-based visual recognition technologies in their products. The evolution of AI is heading towards a phase where security verification and authentication will be conducted through facial and visual recognition. Home security systems, including consumer video cameras, are integrating AI technology to improve safety measures via facial, fingerprints, and voice recognition within a novel security validation framework. Additionally, AI is expected to be utilized in smart alarms to form a comprehensive database of alerts, which could then be evaluated to anticipate false alarms. For instance, in June 2022, the Germany-based semiconductor manufacturer, Infineon Technologies AG, introduced its battery-powered Smart Alarm System (SAS). The system uses sensor fusion backed by AI/Machine learning, delivering excellent precision and extremely energy-efficient functionality. The performance is significantly superior when paired with low-power wake-on acoustic event detection. This compact design offers comparable or even better battery life than less advanced solutions while surpassing the detection accuracy of acoustic-only alarms presently in use in smart homes, buildings, and other IoT applications.
What Are the Emerging Segments in the Smart Home Security Market?
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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the Smart Home Security Industry?
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.
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