Home Security Systems Industry to grow at a CAGR of 8.2% [2022-2027]

The global home security systems market size is expected to grow from USD 56.9 billion in 2022 to USD 84.4 billion by 2027, at a CAGR of 8.2% during the forecast period.

The growth of the home security systems market is driven by factors such as growing awareness regarding home security systems and the emergence of the Internet of Things (IoT) and wireless technologies.

Do-It-Yourself (DIY) security market to grow at a high rate from 2022 to 2027

The market for Do-it-Yourself (DIY) security systems is expected to grow at the highest CAGR during the forecast period. A significant customer base of home security systems prefer cost-effective products with a remote monitoring facility to optimize as per their security requirements. In the DiY product category, users can save a large amount of money spent on consulting and installation services. Some of such security systems can be customized and upgraded with additional features by customers as and when they require. Thus, with DIY option suitable for many customers, its adoption is expected to drive the growth of home security systems market.

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• Home security systems are comprehensive solutions designed to protect residences and ensure the safety of occupants.

• The market for home security systems has been witnessing significant growth due to increasing concerns about residential security and the rise in burglary and theft incidents.

• Home security systems typically include components such as surveillance cameras, alarms, motion sensors, door/window sensors, and smart locks, among others.

• The market offers a wide range of home security system options, including wired systems, wireless systems, self-installation kits, and professionally monitored systems.

• The integration of advanced technologies such as artificial intelligence (AI), machine learning (ML), and Internet of Things (IoT) has enhanced the capabilities of home security systems.

A few of the key players in the Home Security Systems Market are ADT LLC. (ADT) (US), Resideo Technologies, Inc. (US), Johnson Controls International plc. (Johnson Controls) (US) HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO. LTD. (HANGZHOU HIKVISION DIGITAL TECHNOLOGY) (China), and ASSA ABLOY AB (ASSA ABLOY) (Sweden).

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