Residential security market growth to be driven by AI, crime rate

NEW YORK —The interactive residential security market size in US is estimated to grow by USD 2.96 billion from 2024-2028, according to Technavio.

The market research company estimates that residential security will grow at a CAGR of 10.26% during the forecast period, with rising crime rates across US is driving market growth and a trend towards increasing focus of vendors on new product launches.

Technavio writes that the interactive residential security market in the US is witnessing significant growth due to vendors' increasing focus on new product development, especially those focused on artificial intelligence (AI).

“This new product development includes integrating advanced technologies such as AI and machine learning for enhanced threat detection and improving system compatibility with smart home ecosystems for greater convenience and control,” the company said. “For instance, Brinks Home, a leading home security and alarm monitoring company, introduced Vacation Watch and Package Detection features in August 2024. Vacation Watch allows users to create temporary rules for automatic recording during their absence, while Package Detection alerts homeowners upon package delivery and retrieval, providing video clips for identification.”

While Technavio indicates that the Interactive Residential Security market in the US is thriving thanks to a focus on advanced safety measures for homes, research from the Council on Criminal Justice (CCJ) found that residential burglary has been steadily falling since 2024. According to research analysis done by Technavio that can be attributed to interest from homeowners in energy-saving solutions, remote monitoring, and smart features.

“Smart Home Security systems are becoming increasingly popular, integrating with other smart devices and the internet for convenient and efficient control,” Technavio wrote. “However, technical flaws and cybersecurity concerns are areas of improvement.”

The full report can be purchased online at www.technavio.com.