What Makes Home Security Important? [2020-2030 Statistics]
Is home security important? Is the industry growing? What about smart security devices and AI? Check the statistical data in this article.
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Is Home Security Important?
Yes!
We began with a short question and replied with a short answer.
But, we don’t want to end the article here. Let us show you why is a home security important and how to start with it.
First, how can we determine if home security is important?
We can ask our neighbors, run an online survey, count the number of surveillance cameras and alarm systems, and then determine what is happening.
However, sometimes it’s better to look at things from an economic perspective.
So, if we want to ask the right question, it would be:
Is the home security industry growing?
Let us show you something from Statista:
Source: Statista
The chart shows the global penetration rate of smart home security from 2017 to 2026.
It’s published under the name of “Smart Home security penetration rate 2026, by segment” by Statista Research Department, on Apr 8, 2022.
You can see that smart security cameras (light blue), smart locks (dark blue) and motion detectors (red) have seen an increase since 2017.
Other devices in the home security market share similar characteristics.
However, smart devices are experiencing a high increase in sales.
This is due to their ability to achieve more than the traditional home security devices.
What level of importance do smart home devices hold in terms of home security?
Traditional home security devices are still pretty useful even today.
Home surveillance, motion detectors, glass break sensors, alarm systems – the basic versions will do the job.
But, if you want to have everything connected into one system that has the ability to recognize human movement, send notifications, have a cloud backup, facial recognition software, voice activation and similar – we have to give advantage to smart home security devices.
On the first chart we see that the smart security cameras had the best results:
"In 2021, smart security cameras had the highest penetration rate among smart home security devices worldwide. Penetration of such devices is expected to clime to 7.1 percent by 2026" - Statista
It is clear that there were two reasons for this to occur:
- The importance of home security has increased.
- Smart home security devices are becoming widely available and affordable.
Indeed, another report on Statista confirms how important home security is in comparison to the overall smart home market:
"The smart home security market is one of the most important smart home market segments and was expected to reach approximately 32.5 billion U.S. dollars in 2024, before nearly doubling in size by 2029." - Statista
Another chart shows us the size of IP video surveillance and video surveillance as a service (VSaaS) worldwide market predictions until 2030:
Source: Statista
Here is the statement related to the chart:
"The global IP video surveillance and video surveillance as a service (VSaaS) market was valued at around 34.7 billion U.S. dollars in 2021. By 2030, the market is forecast to have a value exceeding 88 billion U.S. dollars." - Statista
This tells us that the smart home security will probably become the leading segment at some point, especially when AI becomes a regular thing in every home.
Why home security matters?
The importance of home security cannot be overstated.
A secure home not only deters criminal activities, but also ensures the safety and well-being of its occupants.
With the increasing prevalence of home break-ins, vandalism, and cyber threats, investing in robust home security systems has become essential.
We talked about this in our article about common security threats to homes.
The following chart shows the crime rate in the US for the year of 2022:
Source: Statista
Here is are the summary:
"In 2022, the violent crime rate in the United States was at 380.7 cases per 100,000 inhabitants. However, the total rate of property crime was far higher, at 1,954.5 cases per 100,000 inhabitants." - Statista
Property crime, which involves things such as burglaries, vehicle theft, shoplifting, vandalism, and so on, was the leading segment of total crime in 2022.
Effective home security provides peace of mind, knowing that your property and loved ones are protected.
Moreover, it helps in safeguarding valuable possessions and maintaining a sense of control and security in an ever-changing world.
Are home security systems more important than the standalone devices?
It depends.
Sometimes you can have one simple motion detection device, such as this outdoor light, and it’ll suffice.
However, if you want to fully protect your home, then home security systems are necessary.
It doesn’t matter whether you choose traditional home security devices or smart versions, these systems will play a large role in your home’s safety.
Selecting the right home security system begins with a thorough assessment of your specific needs.
Consider the following factors:
- Home Size and Layout
- Neighborhood Crime Rates
- Family Lifestyle
- Family Lifestyle
Larger homes with multiple entry points, windows, and floors may require more extensive coverage compared to smaller homes or apartments.
We have an advanced guide and outdoor security plan for the small square houses.
The second factor is the local crime, i.e. what’s happening in your neighborhood.
Research local crime statistics to understand the most common threats in your area, such as burglary, vandalism, or car theft.
You can do this by checking the local papers or talking with someone who works in the law enforcement.
The third factor is your family lifestyle. Do you travel frequently? Do you have children or pets that might trigger motion sensors?
These are the questions that will determine which home security systems are best for you.
Lastly, you have to see what you have already, such as locks, fences, or basic alarm systems, to determine what additional protection you need.
Maybe you don’t need to get something expensive.
Lastly, will AI become an important component of home security?
It’s important even now.
Certain systems can recognize the owner’s face and refrain from sending notifications even when they are operating mode.
Human motion tracking, prediction of the potential risks and outcomes, detection of injuries and automatic 911 calls are already present in home security devices.
Here is how the adults in the USA used the AI in 2023:
Source: Statista
Here is the summary:
"According to a survey conducted in February 2023, almost half of the adults in the United States showed interest in artificial intelligence (AI) powered online search products, among other AI-related products. Already established mainstream services like smart assistants and roadside assistants were mentioned by 48 and 44 percent of the respondents. " - Statista
The segments we highlighted definitely have security tasks at a certain level.
The upcoming AI systems will include better interaction with the entire house, so expect to have a personal J.A.R.V.I.S. soon.
Marvin McAlister is an enthusiastic advocate for home safety and security, possessing a solid grasp of the subject through years of personal and professional involvement with security equipment. Check more about Marvin here.
The content of this page is meant exclusively for informational purposes. Conducting a professional safety audit is our recommendation when there is a proven danger.
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