The Home Security System Market is Segmented by Component (Hardware, Software, and More), Connectivity (Wired and More), Type of System (Video Surveillance System, and More), Distribution Channel (Online Direct-To-Consumer, E-Commerce and Marketplaces and More), Home Type (Single-Family Homes, Multi-Family Units and Apartments and More) and Geography

In 2024, the global smart home security market was valued at around **** billion U.S. dollars. The smart home security market size is forecast to increase over the next few years to nearly ** billion U.S. dollars by 2029. Smart home security refers to a set of internet-connected devices that monitor, detect, and alert users about potential intrusions in their homes. These devices can include surveillance cameras, alarm systems, motion detectors, and smart locks, among others. Despite the privacy issues associated with smart home security devices, the importance of owning a home security system outweighs these concerns in most countries worldwide.

Interactive Residential Security Market Outlook

The global interactive residential security market size was valued at approximately $30 billion in 2023 and is projected to grow, reaching an estimated size of $65 billion by 2032, reflecting a compound annual growth rate (CAGR) of 9%. This robust growth is driven by increasing consumer awareness about home security solutions, technological advancements, and the rising adoption of smart home devices. The rising crime rates in urban areas, combined with the growing trend of smart homes, are further propelling market expansion. Additionally, government initiatives to enhance security infrastructure and the availability of cost-effective security solutions have also contributed to this upward trajectory.

One of the primary growth factors for the interactive residential security market is the increasing demand for smart home automation systems. With technological advancements, devices offering high levels of connectivity and user interaction have become more affordable, allowing a broader range of consumers to adopt these systems. The integration of IoT and AI technologies into security systems has enabled features such as real-time monitoring, automated alerts, and seamless control through smartphones and other connected devices. Such innovations not only enhance security but also offer convenience, which is a significant appealing factor for many homeowners, thus driving market growth.

The rise in urbanization and the surge in disposable income in developing economies are also major drivers for this market. As more people migrate to urban areas, the demand for security solutions has increased significantly. Urban dwellers are more susceptible to burglaries and property crimes, prompting them to invest in advanced residential security systems. Furthermore, the increase in disposable income has allowed more consumers to afford sophisticated security technologies, thereby expanding the market base. This trend is particularly notable in emerging markets in the Asia Pacific and Latin America, where economic growth has empowered consumers to prioritize home security spending.

Another critical growth factor is the increase in remote working arrangements that have become more prevalent post-pandemic. With more people working from home, there is a growing concern about home security as individuals spend more time indoors. This has led to an increased investment in interactive security solutions that offer real-time monitoring and control. Additionally, the growing awareness and concerns regarding personal and property safety have encouraged a proactive approach towards home security systems. Insurance companies also play a role, as they offer incentives and lower premiums to homeowners who install comprehensive security systems, which further promotes market growth.

Regionally, North America holds a significant share of the interactive residential security market, driven by the early adoption of smart technologies, a high standard of living, and a strong emphasis on home security. However, the Asia Pacific region is anticipated to exhibit the fastest growth over the forecast period. This is attributed to rapid urbanization, increasing disposable incomes, and heightened awareness regarding home security solutions. Government initiatives aimed at smart city development and digital infrastructure enhancement in countries like China and India are also contributing to the market's expansion in this region. Europe remains a mature market with steady growth, supported by technological advancements and stringent security regulations. In contrast, the Middle East & Africa and Latin America are witnessing gradual growth as they catch up in terms of technology adoption and infrastructure development.

Component Analysis

The interactive residential security market is divided into three primary components: hardware, software, and services. The hardware segment includes various devices such as cameras, sensors, control panels, and alarms, which constitute the backbone of residential security systems. This segment is witnessing substantial growth due to advancements in sensor technology and the increasing affordability of high-quality surveillance equipment. With innovations like motion detection, night vision, and smart integration capabilities, hardware components are becoming more efficient and user-friendly, thereby attracting a larger consumer base. Moreover, the proliferation of wireless technologies has eliminated the need for cumbersome wiring, further simplifying installation and maintenance.

Software, as a component, plays a

Snapshot img

Home Security System Market Size 2025-2029

The home security system market size is forecast to increase by USD 29.1 billion, at a CAGR of 8.4% between 2024 and 2029.

Major Market Trends & Insights

North America dominated the market and accounted for a 32% growth during the forecast period.
By the Product - Video surveillance system segment was valued at USD 24.60 billion in 2023
By the Distribution Channel - Offline segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 91.03 billion
Market Future Opportunities: USD 29.10 billion 
CAGR : 8.4%
North America: Largest market in 2023

Market Summary

The market continues to evolve, with innovations in wireless security cameras, smart home automation, and perimeter security systems driving growth. The market is evolving with enhanced security system installation processes and increased demand for smart lock compatibility and camera night vision. Key features like alarm system reliability, optimized system user experience, and strategic sensor placement strategies are improving safety. Advanced system integration options, adherence to data privacy regulations, and smooth system upgrade procedures ensure compliance and longevity. The market is experiencing significant growth, driven by the increasing popularity of Do-It-Yourself (DIY) systems. This trend is fueled by the convenience and affordability of self-installed systems, appealing to tech-savvy consumers seeking customizable and cost-effective solutions. Additionally, the evolution of the Internet of Things (IoT) is revolutionizing home security, enabling seamless integration of various smart devices and real-time monitoring capabilities.
However, the market faces challenges as well. False alarms continue to be a major concern, negatively impacting consumer trust and satisfaction. Addressing this issue requires advancements in technology to improve accuracy and reduce false alarms, ensuring homeowners feel secure without the nuisance of frequent, unnecessary notifications. By focusing on enhancing user experience and reliability, companies can capitalize on the market's potential while navigating these challenges effectively.

What will be the Size of the Home Security System Market during the forecast period?

Explore market size, adoption trends, and growth potential for home security system market Request Free Sample

The global home security system market is evolving with the growing adoption of smart home technologies, driven by the need for enhanced safety and automation. Modern solutions integrate AI-based video surveillance, real-time intrusion alerts, and cloud-enabled monitoring platforms, offering homeowners greater control and convenience. This trend aligns closely with the Smart Home Solutions Market, where intelligent ecosystems connect security with energy management and home automation. Rising urbanization and increased awareness of risk management tools have accelerated demand for advanced systems, including motion sensors, smart locks, and biometric authentication. Vendors are focusing on predictive maintenance software and data analytics dashboards to improve system reliability and operational efficiency, enabling proactive security management. The integration of building management systems and IoT in Home Automation Market further enhances connectivity, allowing users to monitor their homes remotely through mobile applications.
Industry data indicates that over 65% of new residential properties are expected to incorporate smart security systems by 2029, driven by affordability and regulatory compliance requirements for safety. Features like energy management systems, occupancy sensors, and cloud-based property solutions make home security an integral part of connected living.
Cloud storage security, proactive system troubleshooting, and robust mobile app features support seamless user control. Secure wireless network security, optimized camera field of view, and encrypted remote access protocols boost trust. Fine-tuned sensor sensitivity levels, smart alarm notification methods, and fast system response speed elevate performance. Factors like professional monitoring costs, system energy consumption, data transmission speed, and universal system integration standards guide decisions. Strong system maintenance contracts, intelligent home security system design, effective user account management, and flexible system expansion capability shape future growth. For instance, the adoption of facial recognition software in security cameras has led to a 15% increase in sales for one major player in the industry. This technology not only enhances security but also reduces false alarms caused by pets or passing pedestrians. Moreover, the integration of network security protocols and cloud-based security platforms into home s

Residential Security Market Outlook

According to our latest research, the global residential security market size reached USD 60.2 billion in 2024. The market is expected to grow at a steady CAGR of 8.1% from 2025 to 2033, driven by rising security concerns, technological advancements, and increased urbanization. By 2033, the residential security market is forecasted to achieve a value of USD 119.2 billion. Growing incidents of property crimes, the proliferation of smart home technologies, and heightened consumer awareness regarding safety solutions are key factors fueling this robust growth trajectory.

One of the primary growth drivers for the residential security market is the rapid adoption of smart home solutions and the integration of IoT-enabled devices. Homeowners are increasingly seeking advanced security systems that offer real-time monitoring, remote access, and seamless integration with other smart home devices. This shift is largely influenced by the convenience and enhanced protection offered by connected security solutions. Moreover, the rising penetration of high-speed internet and smartphones has made it easier for consumers to monitor their homes remotely, thereby accelerating the adoption of modern residential security systems. The demand for intelligent video surveillance, smart locks, and automated alarm systems is witnessing a significant surge, as consumers prioritize both safety and convenience.

Another significant factor propelling market growth is the increasing incidence of residential burglaries and property crimes worldwide. According to various law enforcement agencies, there has been a notable uptick in break-ins and thefts, particularly in urban and suburban areas. This has heightened the sense of vulnerability among homeowners, prompting them to invest in advanced security solutions. Additionally, governments and insurance companies are playing an active role by offering incentives and discounts for homes equipped with certified security systems. Such initiatives are encouraging homeowners to upgrade their existing security infrastructure, further driving the expansion of the residential security market.

Furthermore, the ongoing advancements in artificial intelligence, machine learning, and cloud computing are revolutionizing the residential security landscape. AI-powered analytics, facial recognition, and predictive threat detection are transforming traditional security systems into proactive and intelligent solutions. These technologies not only enhance the effectiveness of security measures but also reduce false alarms and improve user experience. Manufacturers are investing heavily in R&D to develop innovative products that cater to the evolving needs of consumers. The integration of voice assistants and automation platforms is also contributing to the increased adoption of residential security solutions, as users seek more intuitive and interactive systems.

From a regional perspective, North America currently dominates the residential security market, accounting for the largest share in 2024. This is attributed to the high awareness levels, early adoption of advanced technologies, and substantial investments in home automation. However, the Asia Pacific region is expected to exhibit the highest growth rate during the forecast period, driven by rapid urbanization, rising disposable incomes, and increasing security concerns in emerging economies such as China and India. Europe also holds a significant share, supported by stringent safety regulations and growing demand for integrated security solutions in residential buildings. The Middle East & Africa and Latin America are witnessing gradual growth, with increasing investments in smart city projects and infrastructure development.

In recent years, the concept of DIY Home Security has gained significant traction among homeowners looking for cost-effective and customizable solutions. This trend is driven by the availability of user-friendly security products that can be easily installed without professional assistance. DIY systems often include wireless cameras, smart locks, and motion sensors that can be integrated with existing smart home devices. The appeal of DIY Home Security lies in its flexibility, allowing homeowners to tailor their security setup to their specific needs and preferences. As more consumers seek to take control of their home security, the market fo

Residential Monitored Security Market size was valued at USD 47.45 Billion in 2023 and is projected to reach USD 94.54 Billion by 2031, growing at a CAGR of 9.00% during the forecast period 2024-2031.

Global Residential Monitored Security Market Drivers

The market drivers for the Residential Monitored Security Market can be influenced by various factors. These may include:

Crime Rates: As homeowners look to safeguard their homes and family, higher crime rates frequently result in a rise in demand for home security systems.

Technological Advancements: By providing increased convenience and security, innovations like smart home security systems with features like smartphone alerts, remote monitoring, and integration with other smart devices promote market growth.

Insurance Discounts: To encourage adoption and spur market expansion, a number of insurance firms provide homeowners with monitored security systems with discounts.

Homeownership Trends: Since homeowners are more likely to make investments in protecting their properties, the total percentage of homeownership in a region or nation might have an impact on the demand for residential security systems.

Urbanization: Demand for residential monitored security systems in urban areas is driven by correlations between increasing crime rates and a larger requirement for security measures.

Consumer Perception and knowledge: Shifting customer views about the cost and necessity of monitored security systems, as well as raising consumer knowledge of the value of home protection, can propel market expansion.

Regulatory Environment: Adoption and implementation of residential monitored security systems may be impacted by laws pertaining to surveillance, data privacy, and home security.

Economic Factors: Consumer inclination and ability to invest in home security systems can be impacted by a number of economic factors, including changes in the housing market and levels of disposable income.

Competitive Landscape: The home security market's established competitors and recent entries can have an impact on pricing policies, product innovation, and market dynamics as a whole.

Emerging Threats: The need for more sophisticated and secure home monitoring systems may be fueled by new kinds of security risks, such as cyberattacks that target smart home appliances.

Home Security Systems Market soars to USD 129,581.41 million by 2034! Rising crime rates fuel 8.55% CAGR growth. Discover IoT innovations & smart protection strategies homeowners need now!

Residential and Commercial Security Market Outlook

The global residential and commercial security market size was valued at approximately USD 100 billion in 2023 and is projected to reach around USD 200 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.5% during the forecast period. This growth can be attributed to the increasing adoption of advanced security systems driven by rising concerns over safety and security across both residential and commercial sectors. The proliferation of smart home technologies and the integration of AI and IoT into security systems are significant factors boosting market growth.

One of the primary growth factors for the residential and commercial security market is the increasing incidence of burglary and crime rates globally. This has led to heightened awareness and demand for sophisticated security solutions among homeowners and business establishments. The advancements in security technology, such as the development of smart cameras, biometrics, and integrated systems, have made these solutions more effective and accessible, further propelling market growth.

Another key driver is the growing trend of smart homes and smart cities, which is significantly impacting the security market. The integration of IoT (Internet of Things) in home and commercial security systems allows for real-time monitoring and control, enhancing the overall security infrastructure. Governments and private organizations are investing heavily in smart city projects, which include advanced security and surveillance systems, further driving the demand in this market.

Furthermore, the increasing adoption of cloud-based security solutions is contributing to market growth. Cloud technology offers several advantages such as remote access, scalability, and cost-effectiveness, making it an attractive option for both residential and commercial users. The ability to store and retrieve data from the cloud enhances the functionality of security systems, providing users with comprehensive security management capabilities.

As the demand for enhanced security measures continues to rise, Home Security Solutions have become an integral part of modern living. These solutions offer a range of products and services designed to protect residential properties from potential threats. With advancements in technology, home security systems now include features such as smart alarms, motion detectors, and remote monitoring capabilities. Homeowners can benefit from real-time alerts and control over their security systems through mobile apps, providing peace of mind whether they are at home or away. The integration of AI and IoT in these solutions further enhances their effectiveness, making them a preferred choice for many households.

Regionally, North America holds a significant share of the residential and commercial security market, primarily due to the early adoption of advanced security technologies and the presence of key market players. However, the Asia Pacific region is anticipated to witness the highest growth rate during the forecast period, driven by rapid urbanization, increasing disposable incomes, and growing awareness about security. Countries like China, India, and Japan are expected to be major contributors to this growth.

Component Analysis

The component segment of the residential and commercial security market is categorized into hardware, software, and services. Hardware components include surveillance cameras, access control devices, and alarm systems, which form the backbone of security systems. The hardware segment remains dominant in terms of market share due to the essential nature of physical security devices in any security setup. The continuous innovation in hardware technologies, such as high-definition cameras and advanced sensors, is further driving the segment's growth.

Software components, on the other hand, are gaining significant traction as they enable the integration and management of various security devices. Security software includes video management systems, access control management software, and intrusion detection software. The increasing complexity of security systems and the need for centralized management are propelling the demand for robust software solutions. The rise of SaaS (Software as a Service) models in security is also contributing to the segmentÂ’s growth, offering flexibility and reducing upfront costs for users.

The global home security systems market size was more than USD 59.75 billion in 2025 and is anticipated to witness a CAGR of around 7.2%, crossing USD 119.75 billion revenue by 2035, driven by Increasing Incidences of Theft and Robbery Across the World

Connected Home Security Market is segmented By Product (Locks and Sensors, Detectors, Alarms, Cameras, and Monitoring Systems), And Service (Professional Installation and Self-Installation)

The Smart Home Security Market Report is Segmented by Component (Hardware, Software, Services), Device Type (Smart Cameras and Monitoring Systems, Smart Locks, Smart Alarms, Smart Sensors and Detectors, and More), Communication Protocol (Wi-Fi, Zigbee, and More), End-User Dwelling Type (Independent Homes, Apartments, Condominiums/MDUs), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Smart Home Security Market Outlook

In 2023, the global smart home security market size is projected to be $XX billion, and it is expected to grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2032, reaching approximately $XX billion by 2032. This substantial market growth is driven by rising security concerns, increasing adoption of smart home devices, and technological advancements in IoT and AI. The demand for intelligent security solutions that provide real-time monitoring and control continues to be a key growth factor.

One of the primary growth factors in the smart home security market is the increasing rate of urbanization and the subsequent rise in residential construction. As more people move into urban areas, the need for enhanced security measures becomes critical. Smart home security systems offer a comprehensive solution by integrating various security devices such as cameras, sensors, and alarms, which can be monitored and controlled via smartphones. This convenience and added layer of security are compelling more homeowners to invest in these systems.

Another significant driver is the advancement in technology, particularly in the fields of the Internet of Things (IoT) and artificial intelligence (AI). These technologies enable the development of sophisticated security systems that can detect unusual activities and send immediate alerts to homeowners. For example, AI can recognize familiar faces and distinguish them from intruders, while IoT allows different security devices to communicate with each other seamlessly. These advancements are making smart home security systems more efficient and reliable, thereby boosting their adoption.

The increasing awareness about home security and the rising penetration of smart devices have also contributed to the marketÂ’s growth. With the proliferation of smart speakers, thermostats, and lighting systems, integrating security features into these devices has become a natural progression. Consumers are becoming more aware of the benefits of having an interconnected home security system that provides real-time updates and remote access. This growing awareness is driving the demand for smart home security systems across various segments, including residential, commercial, and industrial.

The concept of a Connected Home Security System is gaining traction as more households seek integrated solutions that offer seamless connectivity between various smart devices. These systems allow homeowners to manage and monitor their security setups through a unified platform, often accessible via smartphones or tablets. By linking cameras, alarms, and sensors, a connected system provides a comprehensive security solution that can be tailored to individual needs. This integration not only enhances the security of the home but also offers convenience and peace of mind, as users can receive real-time alerts and updates no matter where they are. As technology evolves, the capabilities of connected home security systems are expected to expand, offering even more sophisticated features and functionalities.

Regionally, North America holds a significant share of the smart home security market, driven by the high adoption rate of smart home technologies and the presence of major market players. Europe is also witnessing substantial growth due to increasing consumer awareness and favorable government initiatives promoting smart home solutions. The Asia Pacific region is anticipated to experience the highest growth rate, driven by rapid urbanization, increasing disposable incomes, and the growing middle class. In contrast, regions such as Latin America and the Middle East & Africa are gradually catching up, with growing investments in smart city projects and improving economic conditions.

Component Analysis

The smart home security market can be segmented by component into hardware, software, and services. Each of these components plays a crucial role in the overall functionality and effectiveness of smart home security systems. Hardware components include devices such as cameras, sensors, and smart locks, which are essential for monitoring and securing the home. The demand for these hardware devices is driven by their increasing affordability and the growing trend of DIY installations. As technology advances, these devices are becoming more sophisticated, offering features such as high-definition video, night vision, and motion detection.

Software is

Smart Home Security Market size was valued at USD 29.04 Billion in 2024 and is projected to reach USD 93.14 Billion by 2032, growing at a CAGR of 13.81% from 2026 to 2032. Global Smart Home Security Market DriversThe smart home security market is experiencing unprecedented growth, transforming how homeowners protect their most valuable assets. This surge is not merely a technological fad but a direct response to evolving consumer needs and remarkable advancements in interconnected technologies. Here's a deep dive into the pivotal drivers propelling this dynamic market forward:Rising Concerns Over Home Safety and Security: In an era where personal safety and property protection are paramount, increasing incidents of burglary, theft, and property crimes are creating a heightened sense of vulnerability among homeowners. This pervasive concern is a primary catalyst driving the adoption of advanced smart security systems. Unlike traditional alarms, these intelligent solutions offer real-time monitoring, instant alerts, and often visual verification capabilities, providing an unparalleled sense of security. Homeowners are actively seeking proactive measures to safeguard their families and possessions, making smart security an indispensable investment for peace of mind.Growing Adoption of Smart Home Ecosystems: The allure of a fully integrated smart home is becoming increasingly irresistible. As consumers embrace the convenience and efficiency of interconnected devices for lighting, HVAC, entertainment, and more, the natural progression is to incorporate security devices into this broader smart home ecosystem. This integration allows for seamless automation and centralized control, where security features can interact intelligently with other smart devices. For instance, a smart security system can trigger smart lights when motion is detected or adjust the thermostat when the house is empty. This holistic approach encourages consumers to invest in comprehensive smart home security packages, viewing them as an integral part of their modern, connected living experience.

Residential Security Systems Market Outlook

The global residential security systems market size was valued at approximately USD 35 billion in 2023 and is expected to reach over USD 70 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8%. This growth is primarily driven by increasing concerns about home security, the growing adoption of IoT technologies, and the rising disposable incomes that are enabling more consumers to invest in sophisticated security solutions for their homes. The demand for smart homes integrated with advanced security systems is also playing a crucial role in boosting the market growth. Furthermore, technological advancements and the increasing availability of affordable and efficient security devices are expected to further augment market expansion during the forecast period.

One of the most significant growth factors in the residential security systems market is the burgeoning awareness and concern over personal safety and property protection. As crime rates continue to fluctuate across various regions, homeowners are increasingly prioritizing security solutions that can provide real-time surveillance, alerts, and peace of mind. The integration of artificial intelligence and machine learning into security systems is enhancing their effectiveness, enabling features such as facial recognition, threat detection, and predictive analytics. These technological advancements are not only making security systems more reliable but are also driving their demand across different residential settings, including apartments and independent homes.

The proliferation of IoT and smart home technologies is another critical factor contributing to the market's growth. The seamless connectivity and interoperability offered by these technologies allow homeowners to monitor and control their security systems remotely through smartphones and other smart devices. This convenience and control have significantly increased the appeal of advanced security systems, leading to higher adoption rates. Moreover, the ability of these systems to integrate with other smart home devices—such as lighting, thermostats, and home assistants—further enriches their functionality and appeal, encouraging more consumers to invest in comprehensive home security solutions.

Increasing urbanization and the development of smart cities are also influencing the growth of the residential security systems market. As more people move to urban areas and high-rise residential buildings become more common, the need for sophisticated security solutions that can protect multiple entry points and communal spaces becomes essential. Smart city initiatives often include the deployment of advanced security infrastructure, which indirectly promotes the adoption of residential security systems. In addition, government regulations and initiatives aimed at enhancing national security are encouraging the installation of surveillance and security systems in residential areas.

From a regional outlook, North America currently holds a significant share of the residential security systems market. This dominance is attributed to the high rate of technology adoption, increased awareness about home security, and the presence of key market players in the region. Europe and Asia Pacific are also noteworthy markets, with rapid urbanization and increasing disposable incomes driving demand in these regions. In particular, Asia Pacific is expected to witness the highest growth rate during the forecast period, as countries like China and India continue to invest in smart city projects and the middle-class population becomes more aware of the importance of home security.

Component Analysis

The residential security systems market is segmented by component into hardware, software, and services, each playing a vital role in delivering comprehensive security solutions. Hardware components, including cameras, sensors, and control panels, form the backbone of any security system. These components have seen significant advancements in recent years, with enhanced features such as high-definition video, night vision, and motion detection becoming standard offerings. The demand for robust and reliable hardware is expected to continue growing as consumers seek to ensure the physical security of their homes. Additionally, the increasing availability of affordable yet sophisticated hardware solutions is making it possible for a broader range of consumers to invest in these systems.

Software components are crucial for processing and analyzing the data collected by hardware devices. The integration of artificial int

Global residential security market is expected to generate revenue of around USD 149.69 Billion by 2034, growing at a CAGR of around 9.1%.

The Europe Home Security System Market is Segmented by Component (Hardware, Software, and Services), System Type (Video Surveillance Systems, Alarm Systems, and More), Installation Type (Professionally Installed and DIY/Self-Installed), Communication Technology (Wired and Wireless), Distribution Channel (Offline Retail and Online Retail), End User (Single-Family Homes, Multi-Family Apartments, and Small Businesses), and Country.

In North America Home Security System Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision.

Home Security Systems Market earned revenues of USD 56.5 billion in 2022 and estimated to touch USD 105.4 billion in 2030 will grow at a CAGR of 8.1% from 2023-2030.

Global Smart Home Security Market size valued at US$ 5.28 Billion in 2023, set to reach US$ 13.49 Billion by 2032 at a CAGR of about 11% from 2024 to 2032.

The global residential alarm monitoring market, which has historically been a relatively recession-resistant industry, is expected to be negatively impacted by the coronavirus (COVID-19) pandemic. The market during 2020 was forecast to remain relatively flat, however, 2021 is expected to see more gains, reaching a high of 46 million monitoring accounts. For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.