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In North America, the number of monitored alarm systems is forecasted
to grow at a CAGR of 3.0 percent, from 33.6 million in 2021 to 39.0
million in 2026.
The report states that mobile connection is rapidly be-
coming a standard function in security alarm systems
for the consumer and small business markets.
Berg Insights estimate the numbers of cellular
IoT connections for home and small busi-
ness security systems in Europe and North
America is growing at a CAGR rate of 6.7
percent from 39.9 million in 2021 to 55.2
million in 2026.
Three categories
Security systems for small businesses and
private homes can be divided into three main
categories:
· Local security systems.
It emits an alarm sound to alert the surroundings
and scare off intruders. Such systems are not moni-
tored and cannot be accessed remotely.
· Self-monitored security system.
The system is connected and when an alarm goes
off it informs the owner of the premises by sending a text message, email
or push notification through a smartphone app.
· Professionally monitored security systems.
The system is connected to an Alarm Receiving Centre (ARC). When
an alarm is triggered, the ARC can dispatch a security patrol and contact
emergency services.
The market vendors
The traditional home and small business security systems market in
Europe and North America is fragmented. It is served by specialist home
security companies such as ADT, Verisure, Brinks Home (Monitronics)
and Sector Alarm, but also by security service companies such as Prose-
gur, Securitas and G4S; telecommunications and cable television com-
panies such as Comcast, Telus, Cox Communications and Bell Canada.
Furthermore it is also served by utilities, banks and insurance companies
such as EPS (Crédit Mutuel), Crédit Agricole and Groupama.
DIY market vendors
Traditional home security systems include professional alarm monitor-
ing. Providers of DIY home security systems include Simplisafe, Front-
point, Ring (Amazon), Yale (Assa Abloy), Arlo, Somfy, Scout
Security, Canary, Minut and Wyze Labs. DIY security
systems typically include self-monitoring as a standard
feature and professional alarm monitoring services
are offered as an option.
ADT and Verisure the market leaders
ADT and Verisure are the two largest providers
of professionally monitored alarm systems for
homes and small businesses, with 6.3 million
and 4.3 million customers respectively at the end
of 2021.
ADT is only active in the US while Verisure is
active in 13 European countries and four countries
in South America.
Shift to interactive systems
Martin Bäckman, Senior Analyst at Berg Insight, com-
ments on the report.
"The market for security systems for homes and small
businesses in Europe and North America continues to
grow steadily, driven by a shift to interactive systems that
provide increased safety and convenience for users", he says.
Cameras add value
Martin Bäckman also emphasises that security cameras are now also
commonly part of new home security system installations, as the price
for such devices has dropped in recent years and developments of video
software has enabled a greater value for home and small business owners.
"Modern security camera solutions can distinguish between hu-
mans, pets, vehicles and other objects and notify the user only if there
is an actual threat to the premises" continues Martin Bäckman.
The cameras provide an extra layer of security as the security system
extends to the perimeter of the property.
"Security and safety are basic human needs and therefore the home
and small business security system market is anticipated to stay strong
in the coming years despite high inflation and rising costs of living and
doing business", concludes Martin Backman.
In a new report on home security systems and small
businesses, Berg Insight predicts that the number of
professionally monitored alarm systems in Europe will
grow at a compound annual growth rate (CAGR) of 4.5
percent, from 17.6 million in 2021 to 21.9 million installa-
tions in 2026.
Shift to interactive systems drives
the market for home security systems
Martin Bäckman, Senior Analyst at Berg Insight.
Martin Bäckman also emphasises that
security cameras are now also commonly
part of new home security system
installations.
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