Security - Cameroon

Cameroon

The Security market in Cameroon is projected to reach a revenue of €5.5m in 2024.
This represents a significant growth potential for the market.
It is expected that the annual growth rate (CAGR 2024-2028) will be 16.04%, resulting in a projected market volume of €9.9m by 2028.
This indicates a positive trend in the Security market in Cameroon, with an increasing market size.
In terms of household adoption, the number of active households in the Security market is expected to amount to 164.4k users by 2028.
This suggests a growing interest and demand for security solutions among households in Cameroon.
Household penetration, which is currently at 1.7% in 2024, is projected to reach 2.8% by 2028.
This indicates an increasing percentage of households adopting security measures to protect their homes.
The average revenue per installed Smart_Home in Cameroon is expected to be €61.49.
This metric provides insights into the average revenue generated per Smart_Home installation in the country.
It indicates the potential market value and profitability of security solutions in Cameroon.
When comparing the Security market revenue globally, it is noteworthy that in the United States generates the most revenue.
In 2024, in the United States is projected to generate a revenue of €6,316.0m in the Security market.
This highlights the strong market presence and size of the Security market in the United States compared to other countries.
Overall, the Security market in Cameroon shows promising growth potential in terms of revenue, household adoption, and market size.
The projected figures for 2024 and 2028 indicate a positive trend and increasing demand for security solutions in the country.
Cameroon's security market is experiencing a surge in demand for advanced surveillance systems due to increasing concerns over terrorism and crime.

Key regions: Asia, Japan, United Kingdom, Norway, Europe

Marché

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Comparaison de régions

Monnaie

Analyst Opinion

The Security segment targets the prevention/detection of burglaries, notifications about hazards such as fire or water leakage, emergency calls and access control. Its development is mainly driven by the replacement of traditional devices with connected ones. Main growth products in this case are smart locks and smart security cameras. Companies from several different industries compete in this market. Next to traditional security companies (e.g. ADT) and tech start-ups (Canary or Alarm.com), media companies and connectivity providers (e.g. AT&T or Comcast) also play an important role due to the high amounts of data that need to be transferred, especially in the video surveillance case. Developments vary strongly with country-specific conditions like burglary rates.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.