DUBLIN, Nov. 29, 2023 /PRNewswire/ — The “Home and Small Business Security System Market – 13th Edition” report has been added to ResearchAndMarkets.com’s offering.
Cellular connectivity is rapidly becoming a standard feature in security alarm systems for the consumer and small business markets. The number of cellular IoT connections for home and small business security systems in Europe and North America is forecast to grow at a compound annual growth rate of 6.8 percent from 42.4 million in 2022 to 58.8 million in 2027.
The North American market for home and small business security systems is almost twice the size of the European market. There were an estimated 34.8 million active monitored alarm systems in the US and Canada at the end of 2022. The overall penetration rate among the around 150 million households and small businesses in North America was 22.5 percent. Growing at a CAGR of 3.4 percent, the number of monitored alarms in North America is estimated to reach 41.2 million in 2027. In the EU27+3, there were about 18.2 million active monitored alarm systems at the end of 2022. This corresponds to an overall penetration rate of 7.4 percent among the around 245 million households and small businesses in Europe.
The market data thus indicate a significant growth potential for alarm systems in Europe, especially in the residential segment where the current penetration is only 6.1 percent. However, growth on the European market is forecasted to vary considerably from country to country in the next few years. Countries with an already established home security industry and with relatively high penetration rates, including countries such as Spain, Portugal, Norway, France and Sweden, are anticipated to continue to grow faster than the European average. Other markets in Europe will show less growth due to high market fragmentation and fewer specialist alarm service companies that actively market solutions.
The number of monitored home and small business alarms in Europe is estimated to grow at a CAGR of 4.4 percent, to reach 22.6 million alarm systems in 2027. In both Europe and North America, interactive security services and smart home products are key growth drivers in the home security market.
Highlights from the report:
- Insights from 30 executive interviews with market leading companies
- New data on alarm system adoption by country and segment
- Comprehensive overview of the home and small business alarm system value chain
- Detailed profiles of key players on the European and North American security markets
- In-depth analysis of market trends and key developments
- Market forecasts by region, lasting until 2027
The report answers the following questions:
- Who are the leading providers of monitored home and small business alarm systems?
- Why are alarm system providers investing in smart home technology?
- Are DIY home alarm systems providers a threat to the traditional players?
- Which are the leading providers of secure alarm communications services?
- What is the market value of the alarm system industry in Europe and North America?
- What is the potential market size for cellular IoT in the alarm systems industry?
- What are the latest trends and developments on this market?
Key Topics Covered:
Executive Summary
1. The Security Industry
1.1 Market overview
1.1.1 Security services
1.1.2 Enterprise security systems
1.1.3 Home and small business security systems
1.1.4 Cash handling
1.2 Key industry players
2. Home and Small Business Security Systems
2.1 Technology overview
2.2 European standards for intruder alarm systems
2.3 Alarm system value chain
2.3.1 Traditional home security system providers
2.3.2 DIY home security system providers
2.3.3 Home security system manufacturers and platform providers
2.3.4 Secure alarm communications service providers
3. Market Forecasts and Trends
3.1 Europe
3.2 North America
3.3 Vendor market shares
3.4 Market drivers and trends
3.4.1 Interactive smart home systems fuel interest in security services
3.4.2 DIY and traditional home security systems offerings are converging
3.4.3 Security cameras and analytics are now integral parts of security systems
3.4.4 Security systems and smart home products enable insurance discounts
3.4.5 Network sunsets – an opportunity and challenge for the security industry
4. Company Profiles and Strategies
- ADT
- Alert 360
- Altice France
- Brinks Home
- Chubb Fire & Security
- Comcast
- Cox Communications
- EPS Telesurveillance
- G4S (Allied Universal)
- Guardian Protection
- Johnson Controls
- Prosegur
- Sector Alarm
- Securitas
- Telus
- Vector Security
- Verisure
- Vivint Smart Home
- Arlo Technologies
- Bosch
- Canary
- ERA Home Security
- Frontpoint
- Minut
- Netatmo
- Ring
- Scout Security
- Signify
- SimpliSafe
- Somfy
- Wyze Labs
- Yale
- Ajax Systems
- Alarm.com
- Alula
- Atraltech
- DMP
- DSC
- Napco Security Technologies
- Nice Group
- Resideo Technologies
- SecureNet
- Texecom
- AddSecure
- BT Redcare
- CSL
- Telular
- Uplink Security
For more information about this report visit https://www.researchandmarkets.com/r/lmu3f5
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
Originally published at https://www.prnewswire.com/news-releases/home-and-small-business-security-system-market-report-2023-2027—diy-and-traditional-home-security-systems-offerings-are-converging-302001052.html
Images courtesy of https://pixabay.com
