Why the Home Controls Market Is Forecast to Eclipse $62B by 2024

Imperial Capital estimates that 29.5% of homes with an internet subscription have some form of security/smart home solution. Of those, an estimated 65% have a fee-based, professionally monitored integrated security system installed. The penetration rate for the total security segment for projected to increase from 29.5% in 2017 to 38.5% in 2020, and could grow to 54.5% by 2024.

During this period, the fee-based, professionally monitored integrated security system penetration is projected to remain at 65%; however, the number of those households should increase from 19.2 million in 2017 to 27.6 million in 2020 and then to 42.1 million in 2024.

The penetration rate for total fee-based security systems (both integrated security and DIY solutions) would increase from 22.7% in 2017 to 29.6% in 2020 and then to 42.0% by 2024. During this period, the estimated number of those households will increase from 22.7 million in 2016 to 32.7 million in 2020 and then to 49.9 million in 2024.