Global Smart Home Security Cameras Market by Product (Wired, Wireless), by Application (Outdoor Camera, Indoor Camera, Doorbell Camera) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global smart home security camera market was valued at USD 3.71 Billion in 2019. It is projected to grow at a compound annual rate (CAGR of 15.7%) between 2020 and 2027. The demand for smart home security cameras is increasing due to the growing penetration of smart houses in both developed and developing countries. The increasing use of home automation to gain access to security 24/7 is driving the demand for smart home security cameras. Consumers are increasingly looking for home automation devices such as lights, locks and security cameras that can be controlled remotely from smartphones, tablets, or wearables. This is to ensure maximum safety.

Frontpoint reports that smart home device sales are rising by more than 20% annually. This is due to the demand for interactive security which is driving up consumer spending on home hardware and services. Many smart security cameras can be equipped with artificial intelligence that recognizes and analyzes human anatomy, behavior, as well as environmental activity. These innovative features are offered by smart products like Amazon's Cloud Cam and Google's Nest Cam.

This product is being adopted more frequently because of the higher penetration of smart home technology in developed countries of America and Europe. The studies show that there were approximately 30.5 million smart home in Europe at the close of 2018. Houzz's 2019 overview of the U.S. also shows this. Homeowners spend around USD 500 on renovations. This includes smart home and security equipment such as outdoor security, voice assistants and video doorbells. Consumer spending on these devices has also increased due to rising security concerns about interconnected devices. PC Mag's survey found that 34% of homeowners rely on smart security devices to protect their homes.

The market is seeing an increase in smart cities across many countries, which has boosted the demand for surveillance and safety products. Due to limited space, many people live in multi-story apartments. This is driving the demand for smart security systems that are robust and reliable. The popularity of cloud-based technology has led to a higher preference for smart home security cameras. These are based on central control of the gateway and intelligence has shifted towards cloud networks. Residential users are becoming more aware of cloud-based residential security systems that can be remotely operated and are easy to use.

Consumers are more interested in product launches by retailers and companies. Amazon Cloud Cam, a smart home security camera that captures video at 1080p and has a night mode, was launched by Amazon in November 2017. It can be activated via an app or Alexa devices.

Product Insights

With a 55.8% share in 2019, wired devices were the market leader in smart home security cameras, with a revenue share of $55.8 million. The device is more durable and reliable, making it an important category in home security. Because they are easier to install and maintain than wireless models, wired smart home security cameras are popular in many households. The failure rate of smart wired security cameras is low, which will help to drive the segment's growth in the future.

The fastest growing category in wireless is expected to be 15.9% between 2020 and 2027. Remote control of wireless smart home security cameras is possible using a controller. These cameras can be linked via Bluetooth or Wi-Fi. Consumers are increasingly adopting wireless electronics due to increased spending and lifestyles. Over the next few years, the market will see growth opportunities in the form of product innovations and technology integration via various smart devices like Amazon Alexa or Google Home.

Application Insights

The indoor camera segment was the leader in terms of market share with a 40.2% share in 2019. This can be attributed to an increase in burglary cases that are drawing more attention from residential homes towards indoor security. Safewise reports that a burglary happens every 26 seconds in the United States as of 21 April 2020. Consumers can now have complete control over their homes through remote access. Therefore, smart home security cameras are recommended for indoor use. According to the State of Safety survey, burglaries are the most common property crime. According to the FBI, 51% of all reported burglaries took place during the daytime in 2018 compared with 32% at night. Consumers are increasing their use of these devices because they don't have anyone home during the day.

From 2020 to 2027, the doorbell camera segment is expected grow at a 15.9% CAGR. This can be attributed to the increased visibility of high-rise buildings that have a doorbell security camera as a default. These devices are often seen in large multi-occupancy buildings. Doorbell cameras are commonly used in these buildings because they require safe entry for visitors. Network doorbell cameras, which can be connected to the central security area to provide greater safety for building residents, are also gaining popularity.

Segment growth is also influenced by factors such as strict government policies, technological advances, and infrastructural developments in many countries. Other than the latest technology trends, such as the gradual transition from network-video door phones to smart security cameras, which are responsible for shaping the market. Regional factors like government policies, infrastructural developments, and consumer preferences also contribute to product adoption.

Regional Insights

North America was the dominant market, with a 40.1% share in 2019. The market's 40.1% share in 2019 was dominated by North America. The region's increasing penetration of smart homes is driving demand for smart home security cameras as an aid in access control of safety. According to the European Commission in 2017, smart home revenue in America is expected to increase by more than threefold between 2016-2020, surpassing USD 32 billion.

Asia Pacific will grow at a 16.3% CAGR between 2020 and 2027. China holds a large share of the region's market due to its infrastructure development and increasing construction activities to meet the needs of the growing population. Consumers are undertaking major home improvements due to rapid urbanization. This is driving the demand for smart home security products such as smart security cameras. The regional market is being driven by the growing trend towards smart homes and demand for smart appliances to improve security and home automation. Smart security cameras are also being adopted because of the rising crime rate.

Market Share Insights & Key Companies

High competition has characterized the global market. To meet the growing demand for smart home security cameras, companies are expanding their product lines. The market is also growing due to the increasing number of companies that are entering the sector and strategizing for new product launches. Abode Systems, Inc., for example, launched an outdoor/indoor smartwired video camera in January 2020 with various features, including facial recognition and 24/7 recording. It can also be used as a video doorbell. The market leader in smart home security cameras is:

• Vivint, Inc.

• ADT

• SimpliSafe, Inc.

• Frontpoint Security Solutions, LLC

• Brinks Home Security

• iSmart Alarm, Inc.

• LiveWatch Security LLC

• Skylinkhome

• Protect America, Inc.

• SAMSUNG

Up Market Research published a new report titled “Smart Home Security Cameras Market research report which is segmented by Product (Wired, Wireless), by Application (Outdoor Camera, Indoor Camera, Doorbell Camera), By Players/Companies SimpliSafe Inc, SAMSUNG, Protect America Inc, Frontpoint Security Solutions LLC, LiveWatch Security LLC, iSmart Alarm Inc, Vivint Inc, Brinks Home Security, Skylinkhome, ADT”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Smart Home Security Cameras Market Report Segments:

The market is segmented by Product (Wired, Wireless), by Application (Outdoor Camera, Indoor Camera, Doorbell Camera).

Smart Home Security Cameras Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Smart Home Security Cameras Market

Overview of the regional outlook of the Smart Home Security Cameras Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Smart Home Security Cameras Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Smart Home Security Cameras Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Wired

                2. Wireless

                1. Outdoor Camera

                2. Indoor Camera

                3. Doorbell Camera

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Smart Home Security Cameras Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Smart Home Security Cameras Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.