The new report by Expert Market Research titled, ‘North America Home Security System Market Trends, Size, Share, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of North America home security system market, assessing the market based on its segments like integration, type of installation, panel type, sensor type, communication module, equipment type, residence type, and country.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 7.49 billion
- Forecast CAGR (2023-2028): 20%
- Forecast Market Size (2028): USD 22.32 billion
The market for North America home security system has seen substantial growth due to factors such as evolution of new and improved system technologies. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the North America home security system market.
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Growing research and development within the industry has provided a space for the internet of things, remote control, and home automation, which has further strengthened the industry. In addition, the revival of construction activities, especially in the residential sector, is a major factor driving up demand for home security systems. Improving network infrastructure, as well as broadband and internet penetration, has acted as a catalyst for business expansion.
North America Home Security System Industry Definition and Major Segments
A home security system is a collection of software and hardware equipment designed to detect unauthorised entry or possible intruders in a protected area.
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Based on the integration, the industry is divided into:
- Self-Contained Systems
- Integrated Systems
Based on the type of installation, the industry is divided into:
- DIY Type
- Professional Installed
Based on the panel type, the industry is divided into:
- Hard Wired Panels
- Wireless Panels
- Hybrid Panels
- Alarm Panels
Based on the sensor type, the industry is divided into:
- Wireless Sensors
- Wired Sensors
Based on the communication module, the industry is divided into:
- Professional Monitored
- Self-Monitored
Based on the equipment type, the industry is divided into:
- Video Surveillance
- Intruder Alarms
- Electronic Locks
- Fire Sprinklers and Extinguishers
Based on the residence type, the industry is divided into:
- Independent Homes
- Condominiums
- Apartments
Based on the country, the industry is divided into:
- United States
- Canada
North America Home Security System Market Trends
Because of the rise in property-related crimes, the home security system industry in North America is the leading market for home security systems worldwide. The industry’s development is aided by the availability of innovative devices for expanding the applications of modern home protection systems. Wireless alarms, remote systems, motion or body heat detectors, and customisable and smart alarm systems are among the home security systems available. Within the area, the United States is the most important market, accounting for the majority of market share.
Key Market Players
The major players in the market are ADT Inc. (NYSE: ADT), Vivint Smart Home Inc., Frontpoint Security Solutions, LLC., Bosch Security Systems, LLC, Protect America, Inc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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