Security - Israel | Statista Market Forecast

Revenue in the Security market is projected to reach US$24.6m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.25%, resulting in a projected market volume of US$41.9m by 2029.
In the Security market, the number of active households is expected to amount to 1.2m users by 2029.
Household penetration will be 34.8% in 2024 and is expected to hit 40.5% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$21.59.

Definition:

The Security market includes the sale of devices for networked access control and management for buildings and premises. This includes surveillance products (e.g., security cameras, motion sensors, programmable and remote control door locks) as well as equipment for risk monitoring (connected smoke detectors and humidity sensors).
Remote surveillance and emergency services from specialized security firms that are not related to smart home are not included.

Additional Information:

The market comprises revenue, average revenue per smart home, number of smart homes so as the household penetration rate by smart home, and key players. Figures are generated through both online and offline sales channels and include exclusive spending by consumers (B2C). Market leaders include TP-LINK, Ring, Google, LG, Xiaomi, and other brands renowned for their innovation, brand recognition, and expansive distribution channels within their respective categories. For more information on the data displayed, use the info button right next to the boxes.

Digitally connected and controlled devices for burglar prevention and other security issues
Motion sensors, door locks, security cameras (with or without face recognition)
Surveillance gadgets with connection to a broader smart home (e.g., eufyCam S330, Bosch Smart Home - Starter Set Alarm (Gen. 2))
Hazard prevention devices like water, smoke or gas sensors (e.g., TESLA Smart Intelligent Gas Sensor)

Classical security devices without smart home connection
B2B/C2C sales of any kind (e.g., to hotels or office buildings)

The Security market in Israel has been experiencing significant growth in recent years, driven by various factors such as increasing customer preferences for advanced security solutions, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Security market in Israel have shifted towards more advanced and sophisticated security solutions.

With the rise in cyber threats and increasing awareness about the importance of security, customers are seeking innovative technologies and solutions to protect their assets. This includes the adoption of advanced surveillance systems, biometric access control systems, and integrated security management platforms. Additionally, there is a growing demand for cloud-based security solutions, as they offer scalability, flexibility, and cost-effectiveness.

Trends in the market also play a significant role in the development of the Security market in Israel. One of the key trends is the convergence of physical and cybersecurity. As organizations recognize the interconnectedness between physical and digital security, they are investing in integrated solutions that provide comprehensive protection.

This trend is driving the demand for solutions that combine video surveillance, access control, and cybersecurity measures. Another trend in the market is the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. These technologies are being used to enhance security systems by enabling real-time threat detection, predictive analytics, and automated response capabilities.

AI-powered video analytics, for example, can identify suspicious behavior or objects, alert security personnel, and initiate appropriate actions. Local special circumstances in Israel also contribute to the growth of the Security market. Israel faces unique security challenges due to its geopolitical situation and the constant threat of terrorism.

This has led to the development of a robust security industry that is known for its expertise in counterterrorism, surveillance, and intelligence. Israeli security companies have gained international recognition for their innovative solutions, which has further fueled the growth of the local market. Underlying macroeconomic factors also play a role in the development of the Security market in Israel.

The country has a strong economy and a thriving technology sector, which provides a conducive environment for the growth of the security industry. Israel is known as the "Startup Nation" and has a vibrant ecosystem of technology startups, many of which are focused on developing cutting-edge security technologies. This entrepreneurial spirit and technological innovation contribute to the overall growth and competitiveness of the Security market in Israel.

In conclusion, the Security market in Israel is experiencing significant growth due to customer preferences for advanced security solutions, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for sophisticated security systems, the convergence of physical and cybersecurity, the adoption of AI and ML technologies, the unique security challenges in Israel, and the strong economy and technology sector all contribute to the development of the Security market in Israel.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Smart homes use connected devices and appliances to perform actions, tasks, and automated routines to save money, time, and energy. They are the ongoing revolution of the humble home appliance mixed with AI, robotics, and improvement in IoT technologies. AI in particular, speeding up response times and working as an automation bridge between homeowner and home is already having an impact.