Security - LATAM
LATAM- Revenue in the Security market is projected to reach US$940.4m in 2024.
- Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.94%, resulting in a projected market volume of US$1.7bn by 2029.
- In the Security market, the number of active households is expected to amount to 59.5m users by 2029.
- Household penetration will be 33.9% in 2024 and is expected to hit 41.2% by 2029.
- The average revenue per installed Smart Home currently is expected to amount to US$17.56.
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.
In-Scope
- 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)
Out-Of-Scope
- Classical security devices without smart home connection
- B2B/C2C sales of any kind (e.g., to hotels or office buildings)
