Europe Home Security System Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.80 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Home Security System Market Analysis
The Europe Home Security System Market is expected to grow at a CAGR of 6.8% during the forecast period. The growing security concerns are a key factor expected to spur growth in demand for smart and wired homes during the forecast period. Also, introducing innovative wireless technologies such as HVAC control, security and access control, and entertainment control is expected to stimulate market growth.
- The Internet of Things made it easier to set up a smart home using a smartphone app to remotely control door locks, lights, thermostats, vacuum cleaners, lawn mowers, and even feeders. It's also made it easier (and relatively affordable) to monitor homes from almost anywhere. Smart security systems are favorably customizable and can be purchased as a DIY kit or as a complete set that includes professional installation and monitoring. It can be used as a simple setup.
- Wireless technology has witnessed significant application in hand-held and internet-enabled devices, voice and messaging devices, and data networking devices. Video surveillance market growth is expected to be driven by the introduction of new IP-based digital technologies to detect and prevent unwanted behavior such as shoplifting, vandalism, and terrorist attacks.
- The increasing number of collaborations and unveiling of new products by key European companies are driving market growth in this region. For instance, in May 2021, Essence Group, a developer of IoT solutions for security and care industries, launched WeR@Home+, next-generation security, and home management platform. To pilot the new product, Essence collaborates with European security service providers, including Securitas Direct Switzerland.
- With a rapidly growing industry, several challenges are faced in the smart home area, mainly with the security of devices. IoT devices are popular, and this growth in the industry has resulted in many start-up companies joining the market. Devices are now being designed and built quickly to profit from the demand, resulting in lower security standards being implemented during the build stage. Therefore, several devices are released which can be vulnerable and will provide an attacker with easy access to the secure network it has been connected to.
- Home security solutions within the residential area significantly raised the call for alarm monitoring- primarily based on virtual packages at some point during the COVID-19 pandemic. However, loss of availability of professionals and disruptions in the manufacturing of hardware systems with partial and whole lockdowns via way of means governments constrained the boom of this market.
Europe Home Security System Market Trends
This section covers the major market trends shaping the Europe Home Security System Market according to our research experts:
Security Cameras have a high demand for home security
- With the growing inclination towards advanced technologies such as 5G internet speeds and the increasing need for tech-driven surveillance systems, IT service firm Atos entered the video analytics market by acquiring Ipsotek in April 2021. Ipsotek'sIpsotek's VISuite provides multi-camera tracking capabilities and may be used across various use cases, including crowd management, smoke detection, intrusion detection, perimeter protection, number plate recognition, and traffic management.
- Securitas France partners with Quanergy to bring one of the first mobile surveillance solutions integrating 3D LiDAR technology to the security market. Securitas' Mobile Cam 3D mobile surveillance solution connects Quanergy's M-series LiDAR sensors and security cameras to protect temporary and remote areas such as construction sites, warehouses, parking lots, and homes. Mobile surveillance units are used for perimeter protection and intruder detection where infrastructure is permanently installed.
- Companies are focused on innovating new security cameras with better qualities and resolutions. For instance, in June 2021, i-PRO announced its new updated range of S-Series cameras, set a new standard with embedded AI capabilities, and improved image quality for more accurate analytics running on the camera. The first four indoor dome and box-type models with Full HD resolution were available in July 2021.
- According to a report published by Bundeskriminalamt in April 2021, German police recorded around 1.68 million cases of theft crime in the country. These included 75,023 cases of burglary with housebreaking in 2020. This has opened a lucrative opportunity for video surveillance providers to tap into the market, thereby boosting the market growth.
- Further, security cameras play a key role in driving smarter cities and the burgeoning industrial internet of things. Deep learning and AI are becoming more prevalent, as cameras can gather data more accurately and make predictions based on integrated analytical software manufacturers have developed. While shifting to a "smart home" environment is also playing its role, consumers have easier access than ever to easy-to-install wireless devices and doorbell cameras.
Increasing demand for IP cameras
- The market witnessed a change in terms of an increased acceptance and adoption of IP cameras. The transition from analog to IP cameras revolutionized the adoption of video surveillance solutions, with improvements, such as sharper, high-definition digital images and advancements in video analytics and neuro networks. As IP cameras transmit truly digital signals, they offer greater video detail, making them more suitable for facial recognition or detecting license plate numbers.
- In June 2022, CNIL began discussions on augmented public cameras. France's data protection authority, the Commission nationale de l'informatique et des libert茅s committee, has announced a public consultation on its position regarding the use of augmented cameras. Regulators believe that these cameras may allow to extraction of a variety of information from the resulting video stream.
- With the integration of software resolutions into video surveillance, it is possible to detect unexpected and unattended objects or packages, line crossing, path tracking, and detecting 'grab and run' events. These integrations are also supported in raising alarms, thus, reducing the need for security guard patrols. Facial recognition software and integration with advanced systems effectively identified suspicious individuals.
- The market is witnessing an increase in the implementation of Artificial Intelligence and Machine Learning with video analytics to manage security better and analyze data feeds. In April 2021, Milestone Systems, an open platform IP video management software (VMS) vendor, partnered with Two-i, a technology company specializing in AI software development. The collaboration intends to provide an AI-based video analytics solution for VMS. Two-i will enable users access to an AI interface dedicated to analyzing live or recorded video streams.
- Although various countries are making efforts to reduce the house crime rate, the low clearance rate of crimes, including housebreaking, encourages people to opt for home security systems, propelling the market growth.
Europe Home Security System Industry Overview
The Europe Home Security System market is fragmented and consists of various big and small players such as Honeywell International Inc., ADT Inc., Bosch Service Solutions GmbH, among others.
- July 2021 - Bosch launched the new Autodome IP starlight 5100i IR moving camera with a new 1/1.8-inch sensor offering 4-megapixel resolution and 30x optical zoom. It uses HDR X, starlight technology, and dual illumination, integrated IR, and white light to capture images that can distinguish individuals or objects for identification or proof.
Europe Home Security System Market Leaders
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Vivint, Inc.
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Assa Abloy AB
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Bosch Service Solutions GmbH
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ADT Inc
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Honeywell International Inc.
*Disclaimer: Major Players sorted in no particular order
Europe Home Security System Market News
- March 2022 - Vivint Smart Home, Inc, a smart home company, has been named by Forbes as the Best Home Security Company of 2022. Forbes Home compared information on two dozen top-rated home security companies based on cost, features, contracts, support, and customer reviews to create a list of the ten best home security companies in 2022.
- September 2021 - Bosch's Intrusion Control Panels (B and G Series) were integrated with LENSEC's Perspective Video Management Software (PVMS). This new partnership would allow security operators to manage intrusion, fire, and access control systems while monitoring video surveillance cameras behind one pane of glass.
Europe Home Security System Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness-Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Stakeholder Analysis
4.4 Impact of COVID-19 on the payments market in the country
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing demand for IP cameras
5.1.2 The emergence of video surveillance services (VSAAS)
5.2 Market Challenges
5.2.1 Lack of Awareness and Security and Privacy Concerns
6. MARKET SEGMENTATION
6.1 By Component
6.1.1 Hardware
6.1.1.1 Electronic Locks
6.1.1.2 Security Cameras
6.1.1.3 Fire Sprinklers
6.1.1.4 Window Sensors
6.1.1.5 Door Sensors
6.1.1.6 Other Hardware
6.1.2 Software
6.1.3 Services
6.2 By Type of System
6.2.1 Video Surveillance System
6.2.1.1 Alarm System
6.2.1.2 Access Control System
6.2.1.3 Fire Protection System
6.3 By Country
6.3.1 United Kingdom
6.3.2 Germany
6.3.3 France
6.3.4 Rest of Europe
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Honeywell International Inc
7.1.2 ADT Inc.
7.1.3 Assa Abloy AB
7.1.4 Bosch Service Solutions GmbH
7.1.5 Vivint Inc
7.1.6 FrontPoint Security Solutions
7.1.7 Brinks Home Security TM
7.1.8 AT&T Inc
7.1.9 SimpleSafe Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Europe Home Security System Industry Segmentation
The home security system integrates software and hardware devices intended to detect an intrusion or unauthorized access if a secured zone is breached. There are many home security systems ranging from light sensors or security cameras to fully integrated smart home solutions. The market studied briefs about the ongoing technological trends in the region and provided key information regarding the regional companies.
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Europe Home Security System Market Research FAQs
What is the current Europe Home Security System Market size?
The Europe Home Security System Market is projected to register a CAGR of 6.80% during the forecast period (2024-2029)
Who are the key players in Europe Home Security System Market?
Vivint, Inc., Assa Abloy AB, Bosch Service Solutions GmbH, ADT Inc and Honeywell International Inc. are the major companies operating in the Europe Home Security System Market.
What years does this Europe Home Security System Market cover?
The report covers the Europe Home Security System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Home Security System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Home Security System in Europe Industry Report
Statistics for the 2024 Home Security System in Europe market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Home Security System in Europe analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
