PACT Magazine

MARKET SIZE & SHARE
In 2015 to 2016, the domestic market accounted for around 20% of industry
revenue in the security systems market. This is influenced by both perceived and
actual shifts in criminal activity as well as a need to feel safe and secure in one’s
home, regardless if you own, rent or board. The security system installation and
monitoring market and the industry as a whole has grown at 2.8% annually
since 2011, despite data from the Australian Bureau of Statistics saying that
over the past 5 years, crime rates have generally declined (Crime Victimisation,
Australia, 2014-15, 2016). It is slowly becoming common place for households
to integrate security systems with other systems within their house, but this is
only really evident in either major renovations or the construction of new houses.
There has been a trend leaning away from traditional security methods but this
market is still relatively unfulfilled within Australia. Due to this, the market seems
to be increasing, and there is expected growth of 1.9% til 2021.
The security system installation and monitoring market in 2016 is worth $1.7
billion, with the domestic market segments making up 20% of this market,
giving it a value of around $340 million (Security System Installation and
Monitoring in Australia Market Research, 2016). By definition, the domestic
home security market is where Pact will compete, but from our research, our
target markets fall outside of this market. Pact works to overcome the barriers of
entry to this market that many of our target market may face.
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