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Home security market set to grow to £100m

Published: 20 October 2010
Basic home security measures are being ignored, despite the risk of burglary creating a huge security equipment industry, according to new research from Mintel.
Home security market set to grow to £100m
While the security market is set to hit £100m for the first time in 2010, as many as a quarter of Brits fail to check their doors and windows before leaving home. Fewer than 46% have taken on board security measures such as installing extra window and door locks, while door chains and spy holes are present in just 35% of homes, and security lights in just a third of households.

By the end of the year, the market for burglary prevention equipment will be worth an estimated £100m, and Mintel forecasts further growth of 12% by 2015. Spending is currently dominated by intruder alarms (£59m), while consumers spend £39m on extra door and window security hardware.

Mintel senior retail analyst Jane Westgarth said: "Consumer caution pays off, as there is a far lower risk of burglary for those homes that take sensible steps to improve their security. Yet despite high awareness of the risk of burglaries, our research finds that no one type of burglary prevention equipment is owned by more than half of the population, illustrating the untapped potential in the home security market as a whole.

"As the economy recovers and the housing market picks up, spending on home security products is likely to benefit. The ageing population, the rise in the number of people living in flats, the increased affordability of electronic equipment, and the increasing use of remote items that do not require wiring into a home are all positive signs for development."

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