What Has Been the Growth Trajectory for the Smart Home Security Market in Recent Years?
The smart home security market has seen considerable growth due to a variety of factors.
• In recent times, the smart home security market has seen a rapid expansion. From a market value of $33.32 billion in 2024, it is estimated to leap to $38.07 billion in 2025, experiencing a compound annual growth rate (CAGR) of 14.3%.
The notable growth during the historical period is a result of factors such as concerns for safety and security, enhanced consumer understanding and awareness, the capacity for remote supervision and control, compatibility with smart home ecosystems, and enticements in the form of insurance.
What is the Forecasted Market Size and CAGR for the Smart Home Security Market?
The smart home security market is expected to maintain its strong growth trajectory in upcoming years.
• The smart home security market is anticipated to undergo speedy expansion in the years to come. The projections show that it will reach a hefty $71.17 billion by 2029, with a compound annual growth rate (CAGR) of 16.9%.
The surge during the forecast period is linked with the inclusion of artificial intelligence and machine learning, issues related to privacy and data security, customization and personalization, the popularity of DIY installations, the push for smart city initiatives and collaboration. Key trends during the forecast period encompass behavioral analytics used for identifying threats, cybersecurity coaching, merging with smart home ecosystems, growing adoption of DIY security systems, and partnerships with law enforcements.
What Are The Leading Drivers Of Growth In The Smart Home Security Market?
Global crime rates are escalating, which is a key driver for the smart home security market. As these rates climb, consumers are putting more emphasis on safety and security systems, particularly in residential areas. Households are leaning towards smart home devices like smart alarms, smart cameras, and smart lockers in their efforts to augment their safety and security. For example, the United States Department of Justice noted an increase in hate crime incidents by 794 in 2022, making a total of 11,634 cases - a rise from the 10,840 cases of 2021. Therefore, this upsurge in global crime levels is stimulating the growth of the smart home security market.
What are the Market 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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What Trends are Shaping the Smart Home Security Market?
Makers of smart home security systems are progressively incorporating visual recognition technologies based on Artificial Intelligence (AI) in their security appliances. AI is advancing to a stage where face and visual recognition will complete security confirmation and authentication processes. Devices like consumer video cameras that form part of home security systems have been melded with AI technology and a revamped security validation framework to boost safety using facial, fingerprint, and voice recognition. It is suggested that AI be used in smart alarms, establishing databases of every alert received, for possible future analysis to anticipate false alarms. For instance, Infineon Technologies AG, a semiconductor producer based in Germany, unveiled its battery-powered Smart Alarm System (SAS) in June 2022. This platform leverages sensor fusion powered by AI and Machine Learning (AI/ML) for high precision and extremely low-power functionality. The performance is remarkable when this approach is paired with low-power wake-on acoustic event detection. The compact design results in equal or improved battery life compared to less advanced solutions, overtaking the detection accuracy of acoustic-only alarm systems currently employed in smart homes, buildings, and other IoT applications.
Who Are the Key Players 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.
What are the Regional Insights into 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.
