The latest report by IMARC Group, titled “North America Home Security System Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the North America home security system market reached a value of US$ 4.8 Billion in 2018. Home security systems refer to a combination of integrated software and hardware devices designed for detecting unauthorized entry or potential intruders in a secured zone. At present, North America is one of the leading markets for home security systems across the globe owing to the availability of advanced devices that have helped in broadening the applications of modern home security systems. Some of these devices include wireless alarms, motion or body heat detectors, remote systems, and customizable and smart alarm systems.
Home security system manufacturers in North America are introducing easier to use and more effective systems. Some of these systems allow the users to remotely monitor their homes, whereas, others offer fire and carbon monoxide emission detectors that can help the users in case of such emergencies. Apart from this, a significant rise in the number of property-related crimes, such as burglary, larceny-theft, motor vehicle theft, arson and vandalism, has given a push to the demand for home security systems in the region. On account of these factors, the North America home security system market is expected to reach US$ 14.1 Billion by 2024, registering a CAGR of 19.7% during 2019-2024.
- The market has been segmented on the basis of integration which includes integrated systems and self-contained systems. At present, integrated systems represent the largest segment.
- Based on installation, the market has been segregated into professionally installed and DIY-type systems. Currently, professionally installed home security systems are gaining popularity across North America.
- On the basis of panel types, wireless panels account for the largest share. They are followed by hybrid panels, hard wired panels and alarm panels.
- The home security system market has been categorized on the basis of sensor types which include wired sensors and wireless sensors. Wireless sensors are currently the most popular segment.
- Based on communication modules, the market has been divided into professional monitored and self-monitored. Presently, professional monitored communication modules hold the largest share.
- The report has analyzed the market according to different equipment which mainly include video surveillance, intruder alarms, electronic locks, fire sprinklers and extinguishers, and others. Amongst these, video surveillance is the most commonly used equipment in the region.
- The market has been classified on the basis of residential type into independent homes, condominiums and apartments. Amongst these, independent homes represented the largest segment.
- On a geographical front, the United States is the leading market for home security systems, followed by Canada, Mexico and others.
- The competitive landscape of the market has also been examined with some of the key players being ADT Inc., Monotronics, Vivint Inc., and Comcast.
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