Home security has undoubtedly come a long way in recent years with the introduction of new technologies and innovations. From smart home automation to facial recognition technology, these advancements are changing how we use home security systems. In 2023, we can expect to see even more growth in the industry, with a particular focus on improving the user experience, artificial intelligence, and robust protection technologies.
As we dive into the latest home security statistics for 2023, we’ll explore how these new technologies are shaping the industry and what homeowners can expect in years to come.
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.
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,
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.
According to our recent study, the top reasons why people are installing home security systems in 2023 are to improve their overall sense of safety, protect their children, and guard their homes while frequently away.
About 74 percent of respondents reported installing a security system to improve their overall sense of safety, making it the most common reason. Protecting children was the second most common reason, with 27 percent of respondents choosing it. Meanwhile, 26 percent of people installed a security system because they frequently spend time away from home, and 18 percent did so because they own many valuable items.
Home security systems provide several benefits, including deterring burglars, alerting homeowners of potential threats, and providing evidence in case of a break-in. Homes without security systems are 300 percent more likely to experience a burglary.
The history of home security systems dates back to the mid-19th century when inventors started developing various electromagnetic alarms to detect and notify homeowners of possible intruders. Over the years, home security systems have evolved and become more advanced by incorporating modern technologies.
Here is a timeline of significant events that have shaped the history of home security systems.
When protecting your home and possessions, a home security system can provide a valuable layer of defense. These systems help prevent break-ins and theft, and they can also provide peace of mind and lower your home insurance premiums.
Here are some key points to consider:
Standard homeowners insurance typically covers damage to your home and the loss of stolen personal items. Theft is a commonly covered loss with limitations depending on the extent of coverage purchased:
Taking advantage of potential insurance discounts and choosing a system that meets your specific needs can help protect your home and wallet from potential risks and damages.
According to recent data from the FBI/NIBRS, there was an 8.9 percent decrease in the robbery rate from 2020 to 2021. However, larceny-theft remains the most common property crime. Larceny theft is a type of theft that involves the unlawful taking of another person's property without the use of force or violence. This includes personal belongings, bicycles, and packages left at the doorstep.
In fact, package theft has become increasingly prevalent in recent years and is a form of larceny. According to Security.org research, more than half of American adults have been victims of package theft. This highlights the need for home security systems to protect against property crimes such as larceny, specifically package theft. With a security system in place, homeowners and renters can monitor their property and receive alerts when packages are delivered or removed, helping to deter thieves and catch them in the act.
A report by the Alarm Industry Research and Education Foundation found that 60 percent of convicted burglars said the presence of a security system would cause them to seek an alternative target. The same report estimates that homes without a visible security system are 2.7 to 3.5 times more likely to be targeted by thieves.
Here are some additional statistics from the latest FBI/NIBRS data that further underscore the need for security systems:
A security system can provide peace of mind and protection against theft and other property crimes. Additionally, installing a security system may even result in a discount on home or renter's insurance premiums. By investing in a security system, homeowners and renters can proactively safeguard their homes and loved ones.
According to the latest FBI Uniform Crime Report (UCR) data, nearly 3 million larceny-theft incidents and offenses were reported in the United States in one year. Among the top items stolen were consumable goods and cars, while TVs, radios, and stereos were most likely to be recovered.
Here's a breakdown of the top stolen items and their recovery rates:
Stolen goods | Value stolen in 2021 | Value recovered | Percent recovered |
---|---|---|---|
Miscellaneous items | $280,502,415,987 | $39,606,610,188 | 14.1% |
Consumable goods | $107,512,394,297 | $9,008,496,543 | 8.4% |
Locally stolen motor vehicles | $81,915,997,169 | $12,671,347,120 | 15.5% |
Currency or cash | $81,140,890,252 | $6,021,921,342 | 7.4% |
Clothing and furs | $74,493,057,007 | $11,119,074,943 | 14.9% |
Household goods | $39,148,634,770 | $3,007,404,447 | 7.7% |
Office equipment | $30,204,852,279 | $3,015,993,085 | 10.0% |
Jewelry and precious metals | $20,111,283,161 | $2,017,048,199 | 10.0% |
Televisions, radios, stereos, etc. | $14,133,875,022 | $3,005,583,762 | 21.3% |
Firearms | $7,120,846,761 | $10,327,168 | 0.1% |
Livestock | $1,010,672,460 | $845,180 | 0.1% |
Source: 2021 FBI Uniform Crime Report
Based on this data, the average percentage of stolen items recovered by police after a burglary is approximately 10.1 percent. It is important to note that the rate of recovered items can vary depending on various factors such as the type of item stolen, the method of theft, and the efficiency of the law enforcement agency investigating the crime. Having a security system also increases the chances of recovering stolen items.
Burglary can happen to anyone, regardless of the location or the security measures in place. Understanding the motivations and tactics of burglars can help homeowners and renters better protect their properties.
The following statistics are from a study conducted by the University of North Carolina at Charlotte on the motivations and tactics of burglars:
By understanding what motivates burglars and their tactics, homeowners and renters can take proactive steps to secure their homes and deter burglars. Installing an alarm system and displaying signs of increased security can make burglars think twice about targeting a home. Also, locking windows and doors and using security cameras can help prevent burglaries.
With the rise of package theft and home break-ins, homeowners must take action and protect their property. Home security systems have proven to be an effective way to deter burglars and provide peace of mind. In addition, technological advancements have made it easier than ever to monitor and control your home security from anywhere.
It is clear that home security is not something we should take lightly, and investing in a security system can provide numerous benefits. With the statistics showing that homes with security systems are less likely to be targeted by burglars, it is a smart move to make for any homeowner looking to protect their property.