With a current valuation of $56.1 billion and a projected annual compound growth rate of 8.9 percent until 2029, the home security market will reach a value of $93 billion before 2030.1 Suffice it to say, home security is no longer a niche. It’s a complete industry.
We want our readers to understand every aspect of the home security industry, so we’ve created annual home security market reports. We can see the ins and outs of what is causing the market’s growth, and its effect on the industry and consumer behavior. Most recently, we found that home alarm systems protect over 39 million U.S. households. That is only expected to grow, as 13 million more households say they may install an alarm system within a year.
In this article, we’ll dive into relevant home security statistics to find insights based on our internal research, current studies, and recent surveys.
Reports published by the FBI are a great resource for robbery, burglary, and theft statistics, but the latest published data on those crimes was for 2022.2 If you’re unclear on the difference between robberies and burglaries, check out our burglary vs. robbery breakdown.
Robberies increased by only 1 percent from 2021 to 2022, and larceny theft remained the most common property crime. There were 4.3 million larceny theft incidents in 2022. The FBI also published demographic information on who was the victim of the crimes.
However, 2022 was an unusual year. It’s when the government started lifting COVID lockdowns. It’s possible that easing movement restrictions and the population’s gradual return to on-site work could have affected those numbers.
We investigated further to understand today’s landscape. Recently, we found a report by the Department of Justice that publishes quarterly updates on robberies in the United States.3 According to the report, robbery cases declined by 2.3 percent between the first quarter of 2023 and the first quarter of 2024.
In addition to robbery statistics, we found package theft statistics for 2023.4 Here are a few highlights:
In addition to the number of incidents, the FBI also publishes data on the value of goods stolen. In 2022 alone, the total value of stolen property was over $463.5 billion. More concerningly, only 8 percent of stolen items were ever recovered.
To clarify, that’s 8 percent of the number of items stolen, not the value. There is no data available on the value of recovered stolen goods. The rate of recovered items also varies based on the type of item stolen, which means the percentage of value most likely does not match the percentage of items. The method of theft and the quality of the law enforcement agency conducting the investigation also impacts recovery rates.
Although the latest reputable study of burglar motivations and tactics was conducted in 2013, the findings have not been contested.5 We read the entire 64-page study to find the most important burglary statistics for you. Here’s what stood out to us:
Home security systems are for more than just protecting property. They’re also for protecting your and your family’s safety. The FBI published the numbers below in 2022 within the same dataset as the robbery, burglary, and theft statistics. We sorted the database for demographics, relations between the victim and perpetrator, and links with other crimes. Here are the latest insights on violent crime:
Security systems also aim to protect homeowners and their families from home hazards, the most common of which is fire.
A fire department responds to a fire in the U.S. every 21 seconds and to a home-structure fire every 88 seconds.7 More chilling, though, a home fire injury occurs every 53 minutes and a death every three hours and 14 minutes. That’s nearly eight deaths and over 25 injuries per day.
To extend those numbers through the year:
Those fires damage property, too, with an estimated loss of $18 billion in 2022.
Fires primarily cause injury or loss to people in residential homes and apartments. Even though those structures accounted for 25 percent of the total number of fires, 72 percent of civilian fire deaths and 75 percent of fire injuries occur in them.
Structure type | 1- or 2-family homes | Apartment buildings |
---|---|---|
Percent of total fires | 19 percent | 5 percent |
Percent of civilian fire deaths | 59 percent | 16 percent |
Percent of fire injuries | 54 percent | 21 percent |
Larger facilities have stricter fire-safety requirements, such as automatic extinguishing systems (AES) that significantly reduce the number of deaths and injuries. Safety measures for homes continue to improve, as shown by the 5 percent decrease in civilian fire deaths and 9 percent decrease in fire injuries despite a 7 percent increase in home-structure fires. Cooking is one of the most common causes of fires, accounting for 44 percent of home blazes across the U.S.8
There were smoke alarms in 74 percent of the homes that reported fires from 2018 to 2022.9 That is one of the most important safety factors, considering 59 percent of fire deaths occur at properties without smoke alarms (43 percent) or with malfunctioning fire alarms (16 percent). That’s why we put installing them at the top of our fire prevention and safety guide.
We also looked at the safety of different types of fire alarms and AES by comparing the death rate per 1,000 reported fires to homes without smoke alarms or AES.
Smoke alarm type | Percent change in death rate per 1,000 reported home fires without smoke alarms |
---|---|
Battery-operated smoke alarms without an AES | 30 percent lower |
Smoke alarms with any power source but no AES | 50 percent lower |
Hardwired smoke alarms without an AES | 67 percent lower |
Hardwired smoke alarms with battery backup but no AES | 71 percent lower |
Any smoke alarm with an AES | 90 percent lower |
The data shows that having smoke alarms and an AES is the most effective way to avoid fire-related deaths. As home safety experts, however, we don’t expect everyone to install an AES. The best alternative is to install hardwired smoke alarms with battery backups. They are more accessible and more than twice as effective as battery-powered smoke alarms.
When we think of home security and safety, we think of protecting our home against home invaders and burglars. Security systems do that well, as 60 percent of convicted burglars said they looked for a new target if they saw a security system, according to a report by the Alarm Industry Research and Education Foundation.10
But the best home security systems take things a step further by incorporating environmental protections. When we tested ADT, for instance, we appreciated the premium smoke and carbon monoxide detectors that sounded during an alert and contacted the company’s emergency response.
Our research has shown that installing a security system has many benefits. It’s still one of the most effective ways to ensure home safety and security, whether from property crime, violent crime, or safety hazards such as fire.