Security - Egypt

Egypt

In Egypt, the Security market is projected to achieve a revenue of US$55.6m in 2024.
This indicates a promising growth potential in the market.
Looking ahead, the revenue is expected to exhibit an annual growth rate (CAGR 2024-2028) of 12.97%, resulting in a projected market volume of US$90.7m by 2028.
Furthermore, in Egypt's Security market, the number of active households is anticipated to reach 4.6m users by 2028.
This highlights the increasing demand for security solutions among households in the country.
Moreover, the household penetration rate is expected to rise from 5.7% in 2024 to 14.3% by 2028, indicating a growing adoption of security systems Egyptian households.
Currently, the average revenue per installed Smart_Home in Egypt is projected to be US$34.32.
This figure demonstrates the value that consumers are willing to invest in securing their homes.
In a global context, it is noteworthy that in the United States leads in terms of revenue generation in the Security market.
In 2024, in the United States is expected to generate a revenue of US$6,883.0m, showcasing its dominance in the market.
Overall, Egypt's Security market is poised for growth, with increasing revenue, household penetration, and a promising market volume.
This indicates a favorable market landscape for security providers in the country.
Egypt's security market is experiencing a surge in demand due to increasing threats of terrorism and political instability in the region.

Key regions: Asia, Japan, United Kingdom, Norway, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

The Security segment targets the prevention/detection of burglaries, notifications about hazards such as fire or water leakage, emergency calls and access control. Its development is mainly driven by the replacement of traditional devices with connected ones. Main growth products in this case are smart locks and smart security cameras. Companies from several different industries compete in this market. Next to traditional security companies (e.g. ADT) and tech start-ups (Canary or Alarm.com), media companies and connectivity providers (e.g. AT&T or Comcast) also play an important role due to the high amounts of data that need to be transferred, especially in the video surveillance case. Developments vary strongly with country-specific conditions like burglary rates.

Methodology

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 segment. 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 digital products and services 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 twice a year in case market dynamics change.