Security - Mozambique | Statista Market Forecast

Revenue in the Security market is projected to reach US$9.3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.23%, resulting in a projected market volume of US$18.9m by 2029.
In the Security market, the number of active households is expected to amount to 156.7k users by 2029.
Household penetration will be 1.3% in 2024 and is expected to hit 1.9% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$101.30.

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 Mozambique has been experiencing significant growth in recent years, driven by several factors including increasing crime rates, the need for enhanced security measures, and the growth of the construction industry.

Customer preferences: Customers in Mozambique are increasingly prioritizing their personal and property security due to the rising crime rates in the country. This has led to a growing demand for security products and services, including surveillance systems, alarm systems, and security guards. Additionally, with the growth of the middle class in Mozambique, there is an increasing desire for higher-end security solutions that offer advanced features and technologies.

Trends in the market: One of the key trends in the security market in Mozambique is the increasing adoption of technology-based security solutions. This includes the use of surveillance cameras, access control systems, and biometric identification systems. These technologies provide more effective and efficient security measures, allowing for better monitoring and control of access to various premises. Another trend in the market is the growing demand for integrated security solutions. Customers are looking for comprehensive security systems that combine different components such as video surveillance, access control, and alarm systems. Integrated solutions offer a more holistic approach to security, providing better protection and ease of use for customers.

Local special circumstances: Mozambique has faced significant security challenges in recent years, including political instability and armed conflicts in certain regions. These circumstances have further fueled the demand for security products and services, as individuals and businesses seek to protect themselves and their assets. Additionally, the country's geographical location, with its long coastline and porous borders, presents unique security challenges that require specialized solutions.

Underlying macroeconomic factors: The security market in Mozambique is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth, which has contributed to an increase in disposable income and consumer spending. This has allowed individuals and businesses to invest more in security solutions. Furthermore, the construction industry in Mozambique has been booming, with numerous infrastructure projects and real estate developments taking place across the country. This has created a demand for security services to protect these assets during and after construction. The growth of the construction industry has also led to an increased need for security solutions in residential and commercial buildings. In conclusion, the security market in Mozambique is experiencing significant growth due to increasing crime rates, the need for enhanced security measures, and the growth of the construction industry. Customers are prioritizing their personal and property security, leading to a growing demand for security products and services. The market is witnessing a shift towards technology-based solutions and integrated security systems. The local special circumstances, including political instability and geographical challenges, further contribute to the demand for security solutions. The underlying macroeconomic factors, such as economic growth and the booming construction industry, also play a role in driving the market forward.

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.