Security - Ethiopia
Ethiopia- The Security market in Ethiopia is poised to experience significant growth in the coming years.
- According to projections, the revenue in this market segment is expected to reach US$22.8m in 2024.
- This represents a promising outlook for the industry.
- Furthermore, the Security market is anticipated to exhibit a compound annual growth rate (CAGR) of 16.07% from 2024 to 2028.
- This steady growth is expected to drive the market to a projected volume of US$41.3m by 2028.
- In terms of market penetration, the number of active households in the Security market is projected to reach 532.2k users by 2028.
- This indicates a growing interest and adoption of security solutions among Ethiopian households.
- Additionally, household penetration is expected to increase from 1.1% in 2024 to 1.9% by 2028.
- This suggests that an increasing number of households in Ethiopia are recognizing the importance of investing in security measures.
- The average revenue per installed Smart_Home is currently estimated at US$79.27, highlighting the value that consumers place on security solutions in Ethiopia.
- When comparing the Security market globally, it is worth noting that United States generates the highest revenue.
- In 2024, the market United States is projected to generate a revenue of US$6.9bn, indicating its dominance in the global market.
- Overall, the Security market in Ethiopia is expected to witness robust growth in the coming years, driven by increasing household penetration and a rising demand for security solutions.
- Ethiopia's security market is experiencing a surge in demand for advanced surveillance systems due to increasing urbanization and the need for enhanced public safety.
- Key regions:
- Asia,
- Japan,
- United Kingdom,
- Norway,
- Europe
The Smart Home market Security includes the sale of devices and services for networked access control and management for buildings and premises. This includes surveillance products (e.g. security cameras and related data storage and transmission services, 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 which are not related to smart home are not included.
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 services with connection to a broader smart home
- Hazard prevention devices like water, smoke or gas sensors
Out-Of-Scope
- Classical security devices without smart home connection
- B2B/C2C sales of any kind (e.g. to hotels or office buildings)
