Smart Security Market Growth Report | 2021 to 2031
The Smart Security Market is expected to register a CAGR of 13.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product (Electronic Security Products, Video Surveillance Products, Safety and Security Products, Access Control Systems, and Others), End user (Residential and Non residential). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the Report
The report Smart Security Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Smart Security Market Segmentation
Product
- Electronic Security Products
- Video Surveillance Products
- Safety and Security Products
- Access Control Systems
- Others
End user
- Residential and Non residential
Strategic Insights
Smart Security Market Growth Drivers- Increasing Cybersecurity Threats: The proliferation of cyber attacks is one of the chief factors driving the smart security market. As cyberattacks cost trillions annually and more, organizations are being forced to upgrade security solutions to protect sensitive data from getting compromised and maintain overall business integrity, which stimulates the demand for smart security technologies.
- Increasing regulatory compliance requirements: More stringent regulations related to data protection and privacy are compelling organizations to adopt smart security solutions. Compliance with the likes of GDPR and HIPAA necessitates strong security measures, which in turn results in increased investments in smart security systems that ensure adherence to such standards.
- Advancements in Technology: The rapid development of technology, such as artificial intelligence and machine learning, is making smart security systems more capable. These technologies will enable real-time threat detection and response, and thus smart security solutions will become more effective and appealing to organizations looking to strengthen their defenses.
- Shift Toward Smart, Connected PERS Solutions: A major trend in the PERS market is the shift toward smart, connected systems that go beyond basic emergency alerts. These devices are becoming more integrated with smart home technologies, health devices, and mobile apps. Features like real-time location tracking, voice activation, geofencing, and notifications sent to family members or caregivers are becoming more common. This integration with smart home and IoT ecosystems allows for a more seamless and effective emergency response, enhancing the overall user experience.
- Focus on Non-Invasive Health Monitoring: As part of the growing trend of health and wellness technology, PERS devices are increasingly focusing on non-invasive health monitoring features. Modern PERS devices are incorporating sensors that can monitor vital signs such as heart rate, blood pressure, and oxygen levels. This trend allows for better preventive healthcare, as these devices can alert users or caregivers to potential health issues before they escalate into emergencies. Non-invasive monitoring also makes it easier for users to wear these devices continuously without discomfort, contributing to improved adoption rates.
- Smart Home Security Solutions Development: The growing trend of smart homes offers opportunities for the smart security market. Consumers are increasingly seeking integrated security solutions that can be managed remotely, creating demand for smart home security systems that combine surveillance, alarms, and automation features.
- Focus on Cybersecurity Solutions: The growing interest in cybersecurity solutions for smart security providers represents an increased opportunity. As businesses focus increasingly on protecting their digital assets, innovative security solutions that can effectively protect users from emerging cyber threats boost market trends.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Smart Security Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Smart Security Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Increasing Cybersecurity Threats, Increasing regulatory compliance requirements, Advancements in Technology
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility
Increased Use of Cloud-Based Security Solutions
The Smart Security Market is estimated to witness a CAGR of 13.3% from 2023 to 2031
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Smart Security Market - By Product
1.3.2 Smart Security Market - By End user
1.3.3 Smart Security Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SMART SECURITY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SMART SECURITY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SMART SECURITY MARKET - GLOBAL MARKET ANALYSIS
6.1. SMART SECURITY - GLOBAL MARKET OVERVIEW
6.2. SMART SECURITY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SMART SECURITY MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. ELECTRONIC SECURITY PRODUCTS
7.3.1. Overview
7.3.2. Electronic Security Products Market Forecast and Analysis
7.4. VIDEO SURVEILLANCE PRODUCTS
7.4.1. Overview
7.4.2. Video Surveillance Products Market Forecast and Analysis
7.5. SAFETY AND SECURITY PRODUCTS
7.5.1. Overview
7.5.2. Safety and Security Products Market Forecast and Analysis
7.6. ACCESS CONTROL SYSTEMS
7.6.1. Overview
7.6.2. Access Control Systems Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. SMART SECURITY MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. RESIDENTIAL
8.3.1. Overview
8.3.2. Residential Market Forecast and Analysis
8.4. NON RESIDENTIAL
8.4.1. Overview
8.4.2. Non residential Market Forecast and Analysis
9. SMART SECURITY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Smart Security Market Overview
9.1.2 North America Smart Security Market Forecasts and Analysis
9.1.3 North America Smart Security Market Forecasts and Analysis - By Product
9.1.4 North America Smart Security Market Forecasts and Analysis - By End user
9.1.5 North America Smart Security Market Forecasts and Analysis - By Countries
9.1.5.1 United States Smart Security Market
9.1.5.1.1 United States Smart Security Market by Product
9.1.5.1.2 United States Smart Security Market by End user
9.1.5.2 Canada Smart Security Market
9.1.5.2.1 Canada Smart Security Market by Product
9.1.5.2.2 Canada Smart Security Market by End user
9.1.5.3 Mexico Smart Security Market
9.1.5.3.1 Mexico Smart Security Market by Product
9.1.5.3.2 Mexico Smart Security Market by End user
9.2. EUROPE
9.2.1 Europe Smart Security Market Overview
9.2.2 Europe Smart Security Market Forecasts and Analysis
9.2.3 Europe Smart Security Market Forecasts and Analysis - By Product
9.2.4 Europe Smart Security Market Forecasts and Analysis - By End user
9.2.5 Europe Smart Security Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Smart Security Market
9.2.5.1.1 Germany Smart Security Market by Product
9.2.5.1.2 Germany Smart Security Market by End user
9.2.5.2 France Smart Security Market
9.2.5.2.1 France Smart Security Market by Product
9.2.5.2.2 France Smart Security Market by End user
9.2.5.3 Italy Smart Security Market
9.2.5.3.1 Italy Smart Security Market by Product
9.2.5.3.2 Italy Smart Security Market by End user
9.2.5.4 United Kingdom Smart Security Market
9.2.5.4.1 United Kingdom Smart Security Market by Product
9.2.5.4.2 United Kingdom Smart Security Market by End user
9.2.5.5 Russia Smart Security Market
9.2.5.5.1 Russia Smart Security Market by Product
9.2.5.5.2 Russia Smart Security Market by End user
9.2.5.6 Rest of Europe Smart Security Market
9.2.5.6.1 Rest of Europe Smart Security Market by Product
9.2.5.6.2 Rest of Europe Smart Security Market by End user
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Smart Security Market Overview
9.3.2 Asia-Pacific Smart Security Market Forecasts and Analysis
9.3.3 Asia-Pacific Smart Security Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Smart Security Market Forecasts and Analysis - By End user
9.3.5 Asia-Pacific Smart Security Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Smart Security Market
9.3.5.1.1 Australia Smart Security Market by Product
9.3.5.1.2 Australia Smart Security Market by End user
9.3.5.2 China Smart Security Market
9.3.5.2.1 China Smart Security Market by Product
9.3.5.2.2 China Smart Security Market by End user
9.3.5.3 India Smart Security Market
9.3.5.3.1 India Smart Security Market by Product
9.3.5.3.2 India Smart Security Market by End user
9.3.5.4 Japan Smart Security Market
9.3.5.4.1 Japan Smart Security Market by Product
9.3.5.4.2 Japan Smart Security Market by End user
9.3.5.5 South Korea Smart Security Market
9.3.5.5.1 South Korea Smart Security Market by Product
9.3.5.5.2 South Korea Smart Security Market by End user
9.3.5.6 Rest of Asia-Pacific Smart Security Market
9.3.5.6.1 Rest of Asia-Pacific Smart Security Market by Product
9.3.5.6.2 Rest of Asia-Pacific Smart Security Market by End user
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Smart Security Market Overview
9.4.2 Middle East and Africa Smart Security Market Forecasts and Analysis
9.4.3 Middle East and Africa Smart Security Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Smart Security Market Forecasts and Analysis - By End user
9.4.5 Middle East and Africa Smart Security Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Smart Security Market
9.4.5.1.1 South Africa Smart Security Market by Product
9.4.5.1.2 South Africa Smart Security Market by End user
9.4.5.2 Saudi Arabia Smart Security Market
9.4.5.2.1 Saudi Arabia Smart Security Market by Product
9.4.5.2.2 Saudi Arabia Smart Security Market by End user
9.4.5.3 U.A.E Smart Security Market
9.4.5.3.1 U.A.E Smart Security Market by Product
9.4.5.3.2 U.A.E Smart Security Market by End user
9.4.5.4 Rest of Middle East and Africa Smart Security Market
9.4.5.4.1 Rest of Middle East and Africa Smart Security Market by Product
9.4.5.4.2 Rest of Middle East and Africa Smart Security Market by End user
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Smart Security Market Overview
9.5.2 South and Central America Smart Security Market Forecasts and Analysis
9.5.3 South and Central America Smart Security Market Forecasts and Analysis - By Product
9.5.4 South and Central America Smart Security Market Forecasts and Analysis - By End user
9.5.5 South and Central America Smart Security Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Smart Security Market
9.5.5.1.1 Brazil Smart Security Market by Product
9.5.5.1.2 Brazil Smart Security Market by End user
9.5.5.2 Argentina Smart Security Market
9.5.5.2.1 Argentina Smart Security Market by Product
9.5.5.2.2 Argentina Smart Security Market by End user
9.5.5.3 Rest of South and Central America Smart Security Market
9.5.5.3.1 Rest of South and Central America Smart Security Market by Product
9.5.5.3.2 Rest of South and Central America Smart Security Market by End user
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SMART SECURITY MARKET, KEY COMPANY PROFILES
11.1. ADT
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ALPHABET INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ALARM.COM INCORPORATED.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CANARY CONNECT, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. COMCAST
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. HONEYWELL INTERNATIONAL INC.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. NETGEAR®
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. RING PROTECT INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SAMSUNG
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. ADT
2. Alphabet Inc.
3. Alarm.com Incorporated.
4. Canary Connect, Inc.
5. COMCAST
6. Honeywell International Inc.
7. Hangzhou Hikvision Digital Technology Co., Ltd.
8. NETGEAR®
9. Ring Protect Inc.
10. Samsung
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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