Revenue in the Security segment is projected to reach US$17.41bn in 2022.
Revenue is expected to show an annual growth rate (CAGR 2022-2026) of 14.17%, resulting in a projected market volume of US$29.58bn by 2026.
In the Security segment, the number of active households is expected to amount to 376.0m users by 2026.
Household penetration will be 6.4% in 2022 and is expected to hit 16.4% by 2026.
The average revenue per installed Smart Home currently is expected to amount to US$126.20.
A global comparison reveals that most revenue is generated in the United States (US$5,434.00m in 2022).
The Smart Home segment Security includes the sale of devices and services for networked access control and management for buildings and premises. This includes surveillance products (e.g. security cameras and related data storage and transmission services, motion sensors, programmable and remote control door locks) as well as equipment for risk monitoring (connected smoke detectors and humidity sensors). Remote surveillance and emergency services from specialized security firms which are not related to smart home are not included.
Digitally connected and controlled devices for burglar prevention and other security issues
Motion sensors, door locks, security cameras (with or without face recognition)
Surveillance services with connection to a broader smart home
Hazard prevention devices like water, smoke or gas sensors
Classical security devices without smart home connection
B2B/C2C sales of any kind (e.g. to hotels or office buildings)