The global home security system market is expected to see significant growth, with a projected increase of USD 25.8 billion from 2024-2028, according to Technavio. The market is set to grow at a rate of 8.1% during this period, driven by the rise of DIY home security systems and the evolution of IoT technology. However, challenges such as false alarms are on the horizon.
Key players in the market include ABB Ltd., ADT Inc., Alarm.com Holdings Inc., Allied Universal, Amazon.com Inc., and others. The market is segmented by product, distribution channel, and geography, with a focus on video surveillance systems and other essential components for modern homes.
The market is also facing challenges related to false alarms and the integration of various security technologies. Despite these hurdles, the market is evolving to meet the needs of homeowners, offering advanced features and convenience.
For more information on this market and its trends, you can view the full report from Technavio here.