Security - Mozambique

Mozambique

The Security market in Mozambique is poised to witness remarkable growth in the coming years.
According to projections, the revenue in this market is expected to reach US$9.3m in 2024.
This indicates a substantial increase in the country's security sector.
Moreover, the market is anticipated to showcase a promising annual growth rate of 16.22% between 2024 and 2028, resulting in a projected market volume of US$17.0m by 2028.
This demonstrates the potential for significant expansion and development within the Security market in Mozambique.
In line with the market growth, the number of active households in the Security market is expected to rise to 281.9k users by 2028.
This signifies an increasing demand for security solutions among Mozambican households.
Furthermore, household penetration is predicted to experience substantial growth, with a penetration rate of 1.8% in 2024 expected to reach 3.0% by 2028.
This indicates a growing awareness and adoption of security measures among Mozambican households.
The average revenue per installed Smart_Home currently stands at US$62.47, highlighting the value and importance placed on security systems withMozambique.
In a global comparison, in the United States leads the way in terms of revenue generation in the Security market, with a staggering US$6,883.0m projected for 2024.
This showcases the significant market presence and dominance of the United States in this industry.
Overall, the Security market in Mozambique is expected to experience substantial growth and development, driven by increasing revenue, household penetration, and market volume.
This presents lucrative opportunities for businesses operating within this market segment in the country.
Mozambique is experiencing a rise in demand for private security services due to increasing crime rates.

Key regions: Asia, Japan, United Kingdom, Norway, Europe

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Analyst Opinion

The Security segment targets the prevention/detection of burglaries, notifications about hazards such as fire or water leakage, emergency calls and access control. Its development is mainly driven by the replacement of traditional devices with connected ones. Main growth products in this case are smart locks and smart security cameras. Companies from several different industries compete in this market. Next to traditional security companies (e.g. ADT) and tech start-ups (Canary or Alarm.com), media companies and connectivity providers (e.g. AT&T or Comcast) also play an important role due to the high amounts of data that need to be transferred, especially in the video surveillance case. Developments vary strongly with country-specific conditions like burglary rates.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.