Current Home Security Market Size and Projected Growth
The global home security market is expected to grow from $40.7 billion in 2020 to $84.4 billion in 2027, with a compound annual growth rate (CAGR) of 8.2 percent. Factors such as increasing home security awareness, rising crime rates, and technological advancements are driving this growth.
According to our latest research, at least 39 million U.S. households are protected by alarm systems. Young adults 18-29 being the most likely to have some type of home security devices. As many as 13 million more households may install new alarm systems in the next 12 months.
Additionally, homeowners are investing in home security for various reasons, such as protecting their property from burglaries, monitoring their homes while away, and ensuring the safety of their families. Understanding the current market trends and statistics is crucial for anyone looking to improve their home security.
Number and percent of US with home security systems
The most popular types of home security technologies include alarms, cameras, and access control systems. Video surveillance tools are the most widely used home security technology, followed by video doorbells and alarm systems.
Our recent research revealed that home security systems are becoming increasingly popular among US homeowners, with at least 72 percent of home decision-makers opting for some form of home security.
Among these home decision-makers,
- 42 percent used video surveillance
- 37 percent used video doorbells
- 32 percent had alarm systems installed
- 11 percent had access control systems
- 43 percent of system owners had their systems professionally installed
- 56 percent opted for self-installed systems
It's worth noting that those who used at least one of these home security components felt significantly safer than those who did not. In fact, 37 percent of decision-makers who do not own a video doorbell plan to purchase one in the coming year.