Home Security Systems Market Share

North American Market Forecast

North America industry is predicted to account for largest revenue share of 38% by 2037. The growth of the market can be attributed majorly to the increasing awareness about home safety and security, coupled with the growing adoption of advanced technologies such as artificial intelligence and machine learning. In addition, there are many mandatory fire protection and safety regulations in the region, such as those issued by the National Fire Protection Association and the U.S. Consumer Product Safety Commission in response to the increasing number of fires in the recent past. Every year, approximately 4,800 - 5,000 people in this country die as a result of fire, with another 25,000 being injured. Over 1,317,000 fires were reported in the United States in 2018 by public fire departments. These regulations enforce the installation of smoke detectors, fire extinguishers, and emergency exits in all residential and commercial properties. The regulations also require regular inspections to ensure that all safety systems are in proper working order.

APAC Market Statistics

The Asia Pacific home security systems market is estimated to be the second largest, registering a share of about 24% by the end of 2037. The growth of the market can be attributed majorly to the growing awareness among consumers about home security systems and the increasing number of smart city initiatives across the region. These initiatives promote the use of home security systems in the Asia Pacific region, providing an impetus to the growth of the market. Moreover, rising concerns over security and surveillance, and the increasing urban population are further projected to drive regional market growth. The urban population of the Asia Pacific region has been increasing in recent years owing to a combination of factors, such as economic development, migration patterns, and population growth. As cities become more populated, the need for security systems increases. People are more inclined to install security systems in their homes in densely populated areas to protect their property from theft and vandalism.

Europe Market Forecast

Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the increasing concerns about personal and property security, coupled with the rising demand for advanced and reliable security systems in Europe. Additionally, government initiatives to promote the adoption of home security systems such as the EU Strategy for a Secure Information Society are also expected to further boost the market growth in Europe. The strategy is aimed at enhancing the security of citizens’ online activities, protecting them from cyber threats and criminal activities, and ensuring the safety of their data. This includes the implementation of home security systems in both residential and commercial buildings. Additionally, rising levels of urbanization, and the increasing preference for home automation systems, are also contributing to the growth of the market in the region.