Global Residential Security Market (Size of USD 55.6 billion in 2021) to Witness 8.5% CAGR During 2022 – 2028

Published Date: May, 2022

The global Residential Security market is expected to grow at an 8.5% CAGR during 2022-2028. With the increased adoption of smart security solutions in the residential sector like remote arming and disarming, watching saved video footage of several events, accessing household appliances, and monitoring of movements while away from home, etc., increased integration of IoT technology and extensive adoption of wireless technologies in residential security solutions resulted in the growth of the residential security industry. Furthermore, rising economic growth in developed countries and increasing awareness about developed technologies have propelled the builders and public to install residential security systems. Residential security systems include several applications such as live streaming to watch pets or kids, as well as smoke and fire detectors. Other advantages of establishing residential security systems include the convenience with which house insurance policies can be recovered, as well as the ease with which they can be operated.

In April 2022, Stanley Access Technologies LLC ("Access Technologies") and assets linked to the automatic entrance solutions business from Stanley Black & Decker, Inc. have been acquired by Allegion plc, prominent worldwide security products, and solutions supplier, for $900 million in cash.

The decrease in demand for residential security systems and ongoing trade tension with China amidst COVID-19 crisis has hampered the growth of the residential security solutions market.

Browse 52 market data Tables and 35 Figures spread through 190 Pages and in-depth TOC on " Residential Security Market by Product (Smart Locks, Security Cameras, Fire Sprinklers & Extinguishers, Sensors, and Security Alarms), by Solution (System (Fire Protection System, Video Surveillance System, Access Control System, Entrance Control System, Intruder Alarm System) and Services (Security System Integration Services, Remote Monitoring Services, Fire Protection Services, Video Surveillance Services, and Access Control Services)), by Residential Type (Independent Residence and Apartment), and Region - Global Forecast to 2028"

By product, the security camera will contribute significantly in the residential security market.

Based on product, the global residential security industry is fragmented into security cameras, smart locks, fire sprinklers and extinguishers, sensors, and security alarms based on product. Smart locks are further divided into electronic door locks, keypad locks, wireless locks, and biometric locks. Security cameras will contribute significantly to the residential security market as they are central component of all security systems. Technological development and reduction in cost has led to increased adoption of video surveillance cameras which are affordable and improves picture quality. Wireless security cameras have become increasingly prominent because of their adaptability, flexibility, and ease of use.  They are easy to install, thus lowering installation costs by eliminating the need for long (and expensive) wires or professional installation. This useful feature enables users to install the cameras in locations that are inaccessible to regular CCTV cameras.

Global Residential Security Market Segmentation Analysis

Segment

Categorization

Leading Category

Product

 Smart Locks, Security Cameras, Fire Sprinklers & Extinguishers, Sensors and Security Alarms

Security Cameras (Largest)

Solution

System (Fire Protection System, Video Surveillance System, Access Control System, Entrance Control System, Intruder Alarm System) and Services (Security System Integration Services, Remote Monitoring Services, Fire Protection Services, Video Surveillance Services, and Access Control Services)

Video Surveillance System (Largest)

Residential Type

Independent Residence and Apartment

Apartment

(Significant growth)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America

(Largest)

Asia-Pacific

(Fastest)

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“Asia-Pacific is anticipated to witness the fastest market growth in the residential security market during the forecast period.”

The Asia-Pacific market is expected to witness the fastest growth in the residential security market during the forecast period owing to the increased security concerns, rising number of potential manufacturers, the introduction of digital platforms, and widespread adoption of connected devices will fuel the growth in the region. Furthermore, technical advancements in building & construction activities, such as the automation of security equipment, and increased government initiatives like the development of smart cities, are driving the market expansion of the residential security business in the region.

Some of the major players in the global residential security market include Bosch Security Systems Inc, Allegion PLC, Control4 Corporation, Honeywell Security Group, Alarm.Com, Nortek Security & Control LLC, United Technologies Corporation, Ingersoll Rand, and Godrej & Boyce Mfg. Co. Ltd.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2016–2028

Historical Period

2016–2021

Base Year

2021

Forecast Period

2022–2028

Segments Covered in the Study

Product, Solutions, Residential Type, and  Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Bosch Security Systems Inc, Allegion PLC, Control4 Corporation, Honeywell Security Group, Alarm.Com, Nortek Security & Control LLC, United Technologies Corporation, Ingersoll Rand, and Godrej & Boyce Mfg. Co. Ltd.

Global Residential Security Market Coverage

Product Insight and Forecast 2016-2028

  • Smart Locks
  • Security Cameras
  • Fire Sprinklers & Extinguishers
  • Sensors
  • Security Alarms

Solution Insight and Forecast 2016-2028

  • System
    • Fire Protection System
    • Video Surveillance System
    • Access Control System
    • Entrance Control System
    • Intruder Alarm System
  • Services
    • Security System Integration Services
    • Remote Monitoring Services
    • Fire Protection Services
    • Video Surveillance Services
  • Access Control Services

Residential Type Insight and Forecast 2016-2028

  • Independent Residential
  • Apartment

Geographical Segmentation

Residential Security Market by Region

North America

  • By Product
  • By Solution
  • By Residential Type
  • By Country – U.S., Canada, and Mexico

Europe

  • By Product
  • By Solution
  • By Residential Type
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Product
  • By Solution
  • By Residential Type
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Product
  • By Solution
  • By Residential Type
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries