Home Surveillance Market to Reach $116.6 Billion, Globally, by 2032 at 9.2% CAGR: Allied Market Research
WILMINGTON, Del., March 5, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Home Surveillance Market by Product Type (Security Cameras, Video Doorbells, Smart Locks and NVRs/DVRs), Category (Wired and Wireless), and Distribution Channel (Security Equipment Retailers and Online E-Commerce Sites): Global Opportunity Analysis and Industry Forecast, 2022–2032". According to the report, the global home surveillance market was valued at $48,978.7 million in 2022, and is projected to reach $116.6 Billion by 2032, registering a CAGR of 9.2% from 2023 to 2032.
- Wireless cameras eliminate the need for complex cable installations and allow users to set up their surveillance network effortlessly.
- Security equipment retailers provide a one-stop-shop for individuals who seek comprehensive security solutions which includes surveillance cameras, alarms, and monitoring systems.
- North America has a high awareness of security and safety concerns which drives the demand for advanced home surveillance systems.
- Furthermore, government initiatives prompt home security and the presence of a tech-savvy population further contribute to the growth of the home surveillance market.