The Global Smart Security Market size is expected to reach $135 billion by 2030, rising at a market growth of 12.2% CAGR during the forecast period.
The concept of smart homes has gained widespread acceptance in North America. Technological innovation is highly concentrated in this region, and developments in AI and the IoT have propelled the proliferation and acceptance of these solutions and cloud computing. Consequently, the North American region would acquire nearly 30% of the total market share by 2030. North America has high internet penetration rates, facilitating the adoption of connected and cloud-based security solutions.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, in December, 2023, Hangzhou Hikvision Digital Technology Co., Ltd. released a range of anti-corrosion cameras. The cameras in the range feature Hikvision’s Colorvu and Darkfighter technologies for delivering high-quality full-color images. Additionally, the cameras are built with lightweight polymer materials that allow them to withstand corrosion. Moreover, in November, 2023, Netgear, Inc. announced the launch of NETGEAR MS108TUP 8-Port Multi-Gigabit (2.5G) Ethernet Ultra60 PoE++Smart Switch. The switch features four PoE++ ports and multi-gigabit (2.5G) ports. Furthermore, it comes with IPv6 management and Access Control Lists (ACLs) for enhanced network performance.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alarm.com Holdings, Inc., Netgear, Inc., ADT, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International, Inc., Johnson Controls International PLC, Samsung Electronics Co., Ltd. (Samsung Group), Amazon.com, Inc., Robert Bosch GmbH and Legrand Group
The concept of smart homes has gained widespread acceptance in North America. Technological innovation is highly concentrated in this region, and developments in AI and the IoT have propelled the proliferation and acceptance of these solutions and cloud computing. Consequently, the North American region would acquire nearly 30% of the total market share by 2030. North America has high internet penetration rates, facilitating the adoption of connected and cloud-based security solutions.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, in December, 2023, Hangzhou Hikvision Digital Technology Co., Ltd. released a range of anti-corrosion cameras. The cameras in the range feature Hikvision’s Colorvu and Darkfighter technologies for delivering high-quality full-color images. Additionally, the cameras are built with lightweight polymer materials that allow them to withstand corrosion. Moreover, in November, 2023, Netgear, Inc. announced the launch of NETGEAR MS108TUP 8-Port Multi-Gigabit (2.5G) Ethernet Ultra60 PoE++Smart Switch. The switch features four PoE++ ports and multi-gigabit (2.5G) ports. Furthermore, it comes with IPv6 management and Access Control Lists (ACLs) for enhanced network performance.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal Matrix; Samsung Electronics Co., Ltd. is the forerunner in the Market. In June, 2019, Samsung Electronics introduced the SmartThings Cam. This camera has been designed to help the families keep an eye on what matters most at home. SmartThings Cam is a smarter way to monitor home with premium monitoring features at an approachable price. Companies such as Honeywell International, Inc., Hangzhou Hikvision Digital Technology Co., Ltd. and Robert Bosch GmbH are some of the key innovators in Market.Market Growth Factors
Growing demand for video surveillance
Video surveillance is a deterrent to criminal activities and helps prevent security breaches. The visible presence of cameras can discourage unauthorized access, theft, and vandalism, contributing to a safer environment. Video surveillance is a crucial component of urban security and smart city initiatives. It helps monitor public spaces, traffic, and critical infrastructure, contributing to public safety and emergency response efforts. Retailers use video surveillance for loss prevention, inventory management, and monitoring customer behaviour. The market is expanding significantly due to the growing demand for video surveillance.Enhanced security in urban areas
Rapid urbanization is leading to the development of smart cities, which rely on integrated and intelligent security systems. The need for enhanced security in urban areas, including public spaces and critical infrastructure, is propelling the adoption of these technologies. Urban expansion results in heightened levels of construction and development, encompassing commercial and residential spaces. These solutions, such as access control, video surveillance, and intrusion detection, are adopted to secure buildings and properties. Urbanization facilitates the integration of Internet of Things (IoT) devices and data analytics into these systems. These technologies provide real-time insights, predictive analytics, and actionable intelligence for better decision-making in urban security management. Expansion of urbanization has been a pivotal factor in driving the growth of the market.Market Restraining Factors
Integration and compatibility issues
Integrating various devices and systems from different manufacturers can be challenging. Compatibility issues between devices, protocols, and platforms may hinder seamless integration, leading to fragmented security setups. Incompatibility between devices may lead to vendor lock-in, where users depend on a specific vendor's ecosystem. This can limit flexibility and choice, making it challenging for users to switch or upgrade components without significant effort and cost. Integration and compatibility issues are a significant challenge that hampers the growth of market.Protocol Outlook
Based on protocol, the market is classified into wireless protocols, wired protocols, and hybrid. The wireless protocols segment acquired a substantial revenue share in the market in 2022. Wireless security systems are well-suited for temporary or mobile applications. This is particularly useful in construction sites, event venues, or other temporary locations where rapid deployment and flexibility are essential. Wireless devices often incorporate energy-efficient features, such as low-power modes and the ability to adjust power consumption based on usage. This increases energy efficiency and is consistent with sustainability objectives.Type Outlook
By type, the market is categorized into smart intruder alarms, intelligent video surveillance, access control systems, and others. The smart intruder alarms segment covered a considerable revenue share in the market in 2022. Smart intruder alarms can be integrated with video surveillance systems. This integration enhances situational awareness. Geofencing technology allows users to set virtual boundaries around their property. Convenience is enhanced by the smart intruder alarm's ability to arm or disarm automatically when a user's mobile device enters or exits the geofenced area. When a security breach is detected, smart intruder alarms provide real-time alerts and notifications to homeowners or businesses. This immediate notification allows quick responses and can help prevent or minimize potential losses.Application Outlook
On the basis of application, the market is divided into commercial, residential, and industrial. The residential segment recorded a remarkable revenue share in the market in 2022. Residential properties deploy smart intrusion detection systems and alarms for enhanced security. The convenience of controlling and monitoring systems through mobile devices is a key factor in the residential segment. Homeowners can receive alerts, view camera feeds, and manage security settings remotely. These systems often integrate with smart lighting and environmental controls. This allows homeowners to create automated lighting scenarios, adjust thermostat settings, and receive alerts related to environmental factors.Regional Outlook
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. The demand for sophisticated security solutions in urban areas is rising due to the Asia Pacific region's growing urbanization. The region has a large and growing population, with a significant percentage residing in urban areas. The growth of e-commerce and logistics in the Asia Pacific region has heightened the importance of security in warehouses, distribution centers, and transportation hubs.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alarm.com Holdings, Inc., Netgear, Inc., ADT, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International, Inc., Johnson Controls International PLC, Samsung Electronics Co., Ltd. (Samsung Group), Amazon.com, Inc., Robert Bosch GmbH and Legrand Group
Strategies deployed in the Market
» Partnerships, Collaborations, and Agreements:
- Sep-2023: Hangzhou Hikvision Digital Technology Co., Ltd. signed a partnership with Argeloji, a Turkish IT company, to integrate its HikCentral software with Argeloji’s BlueOperation CMMS+ platform. The integration facilitates users to automate the mantainance schedule of their connected devices.
- Jun-2023: Alarm.com Holdings, Inc. announced a partnership with New Home Co., an American house-building company, to provide its customers with Alarm.com's EVO-based smart home system. The partnership comes in line with the company's commitment to offering its builder customers with rapidly deployable smart home solutions.
- Dec-2022: Samsung Electronics Co., Ltd. partnered with Google, an American technology company, to develop solutions for smart home interoperability. The partnership would pave the way for users to take greater control of their overall connected devices in their homes.
- Jun-2022: Johnson Controls International PLC partnered with Accenture, a professional services company, to create and open new OpenBlue Innovation Centers. The new innovation centers would be used for the innovation of Johnson Controls' building control system products and services.
- Sep-2021: Robert Bosch GmbH signed a partnership with ASSA ABLOY, an access solutions provider, to develop smart home solutions. The partnership allows Bosch to strengthen its overall smart home security portfolio.
- Feb-2021: Honeywell International, Inc. entered a partnership with IDEMIA, an Augmented Identity solutions provider, to develop an intelligent building ecosystem. Under the partnership, Honeywell would integrate its security and building management systems with IDEMIA’s biometric-based access control systems to create safer and more efficient building systems.
- Aug-2020: ADT, Inc. entered a partnership with Google, an American technology company, to develop the next-gen smart home security offerings. The two companies would combine their respective expertise to provide better experience to customers across the United States.
» Product Launches and Product Expansions:
- Dec-2023: Hangzhou Hikvision Digital Technology Co., Ltd. released a range of anti-corrosion cameras. The cameras in the range feature Hikvision’s Colorvu and Darkfighter technologies for delivering high-quality full-color images. Additionally, the cameras are built with lightweight polymer materials that allow them to withstand corrosion.
- Nov-2023: Netgear, Inc. announced the launch of NETGEAR MS108TUP 8-Port Multi-Gigabit (2.5G) Ethernet Ultra60 PoE++Smart Switch. The switch features four PoE++ ports and multi-gigabit (2.5G) ports. Furthermore, it comes with IPv6 management and Access Control Lists (ACLs) for enhanced network performance.
- Oct-2023: Netgear, Inc. unveiled Enterprise-Class AV M4350 Series Switches. The switches come with Enterprise-class hardware, up to 100G uplinks, and redundant power supplies.
- Aug-2023: Hangzhou Hikvision Digital Technology Co., Ltd. announced new features for its Hik-Partner Pro (HPP) app. The new features include network topology optimization facility and Networking and security management. The new features allow users to manage different switches and security devices remotely.
- Mar-2023: Johnson Controls International PLC announced the launch of IQ Pro Hybrid Security Panel for building security applications. The panel comes with IQ Pro for Wi-Fi and Ethernet connectivity and comes with a third-party integration facility.
- Dec-2022: Alarm.com Holdings, Inc. announced the Smart Arming feature for its home security products. The feature lets users decide a time for activation and deactivation times for their alarm system and it incorporates smart sensing which prevents false alarm triggers.
- Dec-2022: ADT, Inc. introduced the ADT Smart Home Hub, a touchscreen alarm panel meant for use with the ADT Smart Home system. The panel features a 7-inch display including 120° Field-of-View and Fixed-Focus Camera.
- Jun-2021: Netgear, Inc. introduced WAX630 tri-band access point. The tri-band access point provides delivering up to 40% higher speeds and comes with interoperablity features with other NETGEAR Insight Managed Access Points.
» Mergers & Acquisition:
- May-2023: Alarm.com Holdings, Inc. acquired EBS, a smart communicator manufacturer. The acquisition enhances Alarm.com's capabilities in providing advanced security technologies across various international markets.0
- Jun-2022: ADT, Inc. took over IOTAS, a smart home automation solutions provider. The acquisition would allow the company to create an industry-leading mobile-based protection system for residents.
Scope of the Study
Market Segments Covered in the Report:
By Protocol- Hybrid- Wireless Protocols- Wired Protocols
- Access Control Systems
- Smart Intruder Alarms
- Others
- Residential
- Industrial
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Alarm.com Holdings, Inc.
- Netgear, Inc.
- ADT, Inc.
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International, Inc.
- Johnson Controls International PLC
- Samsung Electronics Co., Ltd. (Samsung Group)
- Amazon.com, Inc.
- Robert Bosch GmbH
- Legrand Group
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Smart Security Market, by Protocol
Chapter 6. Global Smart Security Market, by Type
Chapter 7. Global Smart Security Market, by Application
Chapter 8. Global Smart Security Market, by Region
Chapter 9. Company Profiles
Companies Mentioned
- Alarm.com Holdings, Inc.
- Netgear, Inc.
- ADT, Inc.
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International, Inc.
- Johnson Controls International PLC
- Samsung Electronics Co., Ltd. (Samsung Group)
- Amazon.com, Inc.
- Robert Bosch GmbH
- Legrand Group
Methodology
LOADING...
