How big is the Smart Home Security Market?

The Smart Home Security Market size is expected to reach USD 32.46 billion in 2024 and grow at a CAGR of 13.81% to reach USD 61.97 billion by 2029. Read More

What is the current Smart Home Security Market size?

In 2024, the Smart Home Security Market size is expected to reach USD 32.46 billion. Read More

Which is the fastest growing region in Smart Home Security Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Smart Home Security Market?

In 2024, the North America accounts for the largest market share in Smart Home Security Market. Read More

What years does this Smart Home Security Market cover, and what was the market size in 2023?

In 2023, the Smart Home Security Market size was estimated at USD 27.98 billion. The report covers the Smart Home Security Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Smart Home Security Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Smart Home Security Market Share, Industry Report on Market Size and Trends

Smart Home Security Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Smart Home Security Market Report is Segmented by Component (Hardware, Software, Services), Device Type (Smart Alarms, Smart Locks, Smart Sensors and Detectors, Smart Camera and Monitoring Systems), Communication Module (Professionally Monitored, Self-Monitored), Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Smart Home Security Industry Overview

The smart home security market is highly fragmented due to low entry barriers. The major players in the market are ADT Inc., Honeywell International Inc., Johnson Controls International PLC, Hangzhou Hikvision Digital Technology Co. Ltd, and Abode Systems Inc., among others. Further strategic partnerships and innovations are the driving force for the industry, and the market is evolving faster in terms of technology and features.

July 2023 - Versuni, formerly known as Philips domestic appliances, has expanded into home safety products. The company launched its first-ever smart home security camera range in India, including three smart security cameras and a new Home Safety App. These new cameras help reduce false alarms, provide accurate alerts, and offer 24/7 control that allows viewing, recording, and responding to security events from anywhere.
June 2023 - Volt, a smart home solutions provider, formed a strategic partnership with Ring, an Amazon company, as a preferred Ring dealer. With this collaboration, Volt will get customers enhanced access to Ring’s popular smart home security products, such as video doorbells and security cameras.
March 2023 - ADT Inc., among the most trusted brands in smart home and small business security, made available the new ADT Self Setup Smart Home Security System, which is the most advanced and complete DIY system and the first fully integrated DIY offering from ADT and Google. The new system integrates Google Nest smart home products with ADT security and life safety technology as well as ADT SMART Monitoring with the convenient control of the new ADT+ app.