Security Alarm Services in the US - Market Research Report

System monitored: Growth in US GDP and corporate profit will likely lead to higher spending on security alarm systems

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

The Security Alarm Services industry has expanded over the past five years, driven by technological innovations. Automated monitoring systems have enabled security alarm service providers to monitor homes and businesses more effectively and efficiently, reducing the likelihood of false alarms and improving response times in the event of a security breach. Despite technological advancements, the industry has faced strong volatility, driven mostly by the impact of COVID-19 on the broader economy. Business closures and reduced corporate profit in 2020 led to reduced demand for security systems installation services, contributing to a 4.4% decline in revenue in 2020. Revenue stagnated in 2021 and 2022, and is expected to grow only 0.9% in 2023 as the economy is still recovering from the effects of the COVID-19 pandemic. Overall, industry revenue has been increasing at a CAGR of 1.1% over the past five years, reaching an estimated $34.6 billion in 2023. This industry comprises establishments that sell security systems, such as burglar and fire alarms and locking devices. They also offer installation, repair and monitoring services of electronic security alarm systems. While the industry includes locksmiths, the locksmith segment is not a primary focus of this report because it generates a relatively small portion of revenue.