GITNUX MARKETDATA REPORT 2024

Wireless Security System Industry Statistics

The Wireless Security System Industry is expected to experience significant growth due to increasing demand for smart home technology and the rising concerns around security and safety.

Highlights: Wireless Security System Industry Statistics

  • 68% of businesses claim that they are increasingly using remote monitoring and remote control over their business processes happen over wirelessly connected devices.
  • By 2023, the global wireless security system market is expected to reach $138.34 billion.
  • About 54% of American homeowners with alarm systems say their system is fully wireless.
  • The Asia-Pacific region is expected to achieve a significant growth rate of 16.8% in the wireless security systems market between 2020-2027.
  • In 2020, the wireless security system market valued at USD 52.32 billion.
  • The commercial segment is anticipated to grow at a larger pace in the global wireless security system market, reaching $92.6 billion by 2027.
  • By 2023, it is predicted that the number of home security systems installed in North America will surpass 30 million.
  • The number of smart homes, which are potential customers for wireless security systems, in North America is expected to reach 73 million by 2021.
  • Wireless security systems offering remote controlling feature is expected to grow at a CAGR of 8.7% from 2019 to 2025.
  • 94% of businesses believe the security of their IoT devices could be improved.
  • Physical security controls or surveillance is reported to be the second-largest segment of IoT spending in 2020, indicating potential investment in wireless security systems.
  • The wireless security systems market in Latin America is expected to grow at a CAGR of 15.9% between 2017 and 2025.
  • More than one-quarter of U.S. households with broadband (27%) have a home security system.
  • Global IoT security spending will hit $6 billion by 2023, indicating potential adoption rate of wireless security systems.
  • By 2023, the wireless security system market in Europe is expected to grow by 12.36%.

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The Latest Wireless Security System Industry Statistics Explained

68% of businesses claim that they are increasingly using remote monitoring and remote control over their business processes happen over wirelessly connected devices.

The statistic indicating that 68% of businesses are reporting an increasing reliance on remote monitoring and control of their business processes via wirelessly connected devices reflects a growing trend towards digitalization and automation in the business world. This shift allows businesses to streamline operations, improve efficiency, and adapt to changing market conditions. Utilizing remote monitoring and control technologies enables businesses to access real-time data, monitor performance metrics, and make timely decisions from anywhere, enhancing their agility and competitiveness. The widespread adoption of wireless connectivity signifies the pivotal role that technology plays in modern business operations, enabling organizations to stay connected and responsive in an increasingly interconnected world.

By 2023, the global wireless security system market is expected to reach $138.34 billion.

The statistic indicates a projected value for the global wireless security system market by the year 2023, estimated to be approximately $138.34 billion. This figure reflects the anticipated growth and expansion of the market, driven by factors such as the increasing prevalence of wireless technologies, the growing concerns over cyber threats and data breaches, and the rising demand for enhanced security measures in various industries. This forecast suggests a substantial market opportunity for manufacturers, vendors, and service providers operating in the wireless security sector, indicating a promising outlook for the industry in the coming years.

About 54% of American homeowners with alarm systems say their system is fully wireless.

The statistic that about 54% of American homeowners with alarm systems say their system is fully wireless indicates that a little more than half of the homeowners surveyed have alarm systems that do not require physical wired connections for operation. This suggests that wireless technology is increasingly popular in the home security sector, providing homeowners with more flexibility in system installation and potentially enhanced security features. The finding may also imply that advancements in wireless technology have made it more accessible and reliable for homeowners seeking to protect their properties. Understanding the prevalence of fully wireless alarm systems among American homeowners can inform industry trends and consumer preferences in the home security market.

The Asia-Pacific region is expected to achieve a significant growth rate of 16.8% in the wireless security systems market between 2020-2027.

This statistic indicates that the Asia-Pacific region is forecasted to experience a substantial growth rate of 16.8% in the wireless security systems market over the period spanning from 2020 to 2027. This growth rate suggests a strong upward trend in the adoption and implementation of wireless security systems across various sectors and industries in the region. Factors driving this growth could include increasing awareness about the importance of cybersecurity, advancements in wireless technology, and rising concerns about data protection and privacy. The projected growth rate of 16.8% indicates a significant expansion in the market size and potential opportunities for businesses operating in the wireless security systems sector within the Asia-Pacific region during the specified timeframe.

In 2020, the wireless security system market valued at USD 52.32 billion.

In 2020, the wireless security system market achieved a valuation of USD 52.32 billion, indicating the total monetary worth of this industry segment during that year. This statistic showcases the significant size and importance of the wireless security system market, reflecting the growing adoption and demand for wireless security solutions to safeguard properties and assets from potential security threats. The value of USD 52.32 billion underscores the substantial investment and expenditure made by consumers, businesses, and industries globally to enhance their security measures through wireless technology, emphasizing the market’s economic significance and growth potential.

The commercial segment is anticipated to grow at a larger pace in the global wireless security system market, reaching $92.6 billion by 2027.

The statistic indicates a projected rapid growth trend in the commercial segment of the global wireless security system market, with an expected value of $92.6 billion by the year 2027. This suggests that companies and businesses are increasingly recognizing the importance of investing in wireless security systems to protect their assets and data from potential cybersecurity threats. The anticipated surge in market value highlights a growing demand for advanced security solutions in the commercial sector, driven by factors such as increasing digitization, remote working trends, and the rising frequency of cyberattacks. As a result, vendors and service providers in the wireless security system market are poised to capitalize on these opportunities by offering innovative products and services tailored to meet the evolving security needs of commercial enterprises.

By 2023, it is predicted that the number of home security systems installed in North America will surpass 30 million.

The statistic predicts that the number of home security systems installed in North America will exceed 30 million by the year 2023. This indicates a growing trend towards the adoption of home security systems for protection and peace of mind among homeowners in the region. Factors contributing to this increase may include rising concerns about property safety, advancements in technology making security systems more affordable and easier to use, and the desire for remote monitoring capabilities. The projection suggests a significant market growth opportunity for the home security industry, reflecting a heightened emphasis on home protection and security among consumers in North America.

The number of smart homes, which are potential customers for wireless security systems, in North America is expected to reach 73 million by 2021.

The statistic indicates that the number of smart homes in North America, which represents potential customers for wireless security systems, is projected to increase to 73 million by the year 2021. This growth highlights a significant market opportunity for companies offering wireless security solutions as smart homes increasingly adopt these technologies for enhanced convenience, control, and safety. The rising trend of smart home devices and connected technologies underscores the growing demand for innovative security systems that cater to the evolving needs and preferences of consumers in the region. As the number of smart homes continues to rise, the market for wireless security systems is expected to expand, presenting a promising and lucrative sector for businesses operating in the security industry.

Wireless security systems offering remote controlling feature is expected to grow at a CAGR of 8.7% from 2019 to 2025.

This statistic indicates that the market for wireless security systems with remote controlling capabilities is projected to experience a Compound Annual Growth Rate (CAGR) of 8.7% between the years 2019 and 2025. This suggests a steady increase in demand and adoption of wireless security systems with remote control features over the forecasted period. Factors driving this growth may include the convenience and flexibility offered by remote controlling capabilities, as well as the increasing trend towards smart home technology integration. The projected CAGR provides insight into the anticipated pace of expansion within this segment of the wireless security systems market, highlighting the expected opportunities for market players and potential stakeholders in this industry.

94% of businesses believe the security of their IoT devices could be improved.

The statistic ‘94% of businesses believe the security of their IoT devices could be improved’ suggests that the overwhelming majority of businesses express a lack of confidence in the security measures of their Internet of Things (IoT) devices. This statistic highlights the prevalent concern regarding the vulnerability of IoT devices to cyber threats and breaches. The high percentage indicates a near consensus among businesses that there is room for enhancing the security practices and mechanisms surrounding their IoT infrastructure. This underscores the importance for businesses to prioritize improving the security of their IoT devices to mitigate potential risks and safeguard their data and operations from cyber threats.

Physical security controls or surveillance is reported to be the second-largest segment of IoT spending in 2020, indicating potential investment in wireless security systems.

The statistic implies that in 2020, a significant portion of IoT spending was allocated towards physical security controls or surveillance systems, making it the second-largest segment in terms of investment. This suggests a growing interest and potential investment in wireless security systems within the Internet of Things (IoT) landscape. The prioritization of physical security measures indicates a recognition of the importance of safeguarding physical spaces and assets in an increasingly interconnected and digital world, highlighting a shift towards adopting advanced technologies to enhance security measures. This trend reflects a broader movement towards leveraging IoT solutions to improve overall security infrastructure and mitigate risks in various environments.

The wireless security systems market in Latin America is expected to grow at a CAGR of 15.9% between 2017 and 2025.

The statistic indicates that the market for wireless security systems in Latin America is projected to experience significant growth over the period from 2017 to 2025, with a Compound Annual Growth Rate (CAGR) of 15.9%. This suggests a steady increase in the demand for wireless security systems in the region, driven by factors such as rising concerns about safety and security, technological advancements, and increasing awareness about the benefits of wireless security solutions. The strong CAGR forecast implies that the market is poised for substantial expansion, presenting opportunities for companies operating in the wireless security industry to capitalize on the growing market potential in Latin America.

More than one-quarter of U.S. households with broadband (27%) have a home security system.

This statistic indicates that a substantial portion of U.S. households with broadband internet access, specifically 27%, have installed a home security system. This figure suggests that there is a considerable level of interest and investment in home security among broadband-using households in the United States. The presence of a home security system can offer peace of mind to residents by providing protection against theft, intrusions, and other potential threats to their property and safety. Additionally, it may imply a growing awareness and prioritization of home security measures among households who have access to high-speed internet connectivity, possibly due to the convenience and ease of monitoring such systems remotely.

Global IoT security spending will hit $6 billion by 2023, indicating potential adoption rate of wireless security systems.

The statistic suggests that the global expenditure on Internet of Things (IoT) security solutions is projected to reach $6 billion by 2023, indicating a rising trend in the adoption of wireless security systems. This expected increase in spending highlights the recognition of the importance of securing IoT devices and networks from cyber threats and vulnerabilities. As more organizations and industries integrate IoT technologies into their operations, there is a growing emphasis on implementing robust security measures to protect sensitive data and prevent cybersecurity breaches. The substantial investment in IoT security reflects a proactive approach towards addressing the unique security challenges posed by the interconnected nature of IoT devices and the potential risks associated with their deployment.

By 2023, the wireless security system market in Europe is expected to grow by 12.36%.

The statistic that the wireless security system market in Europe is expected to grow by 12.36% by 2023 indicates a projected increase in market size and demand for wireless security solutions in the region. This growth rate suggests a positive trend towards the adoption of wireless technology in security systems, which may be driven by factors such as advancements in wireless communication technology, increasing concerns about security and privacy, and the growing popularity of smart home automation. With this projected growth, companies operating in the wireless security system market are likely to benefit from expanding opportunities in Europe as demand for more advanced and convenient security solutions continues to rise.

References

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How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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